Canada’s Abitibi Metals (CSE AMQ / Frankfurt A3EWQ3) is filling its coffers to continue the development of the promising B26 copper and gold deposit at full speed. In total, the company led by CEO Jonathon Deluce will receive gross proceeds of approximately 9.73 million CAD. The portion of the placement that was not conducted through tax-advantaged flow-through shares was done at 0.28 CAD, which is above the current share price!
It is also interesting that the financing was carried out as a so-called bought deal, a type of financing that has been observed only very rarely among explorers in recent years. In this process, a bank or consortium of banks acquires – in this case lead by BMO – the entire package of shares and sells them on later.
In detail, Abitibi issued 8,928,571 common shares at a price of 0.28 CAD as part of the offering, resulting in gross proceeds of 2,499,999.88 CAD. In addition, there were 16,071,429 common shares of the company issued in the form of so-called ‘flow-through shares’, which provide a tax advantage to the (exclusively Canadian) subscribers. These were issued at a price of 0.45 CAD per flow-through share, resulting in gross proceeds of 7,232,143.05 CAD. In total, Abitibi recorded gross proceeds of 9,732,142.93 CAD.
Abitibi Metals CEO Deluce had already explained to us at PDAC 2025 in Toronto what he plans to do with the company this year. And these plans can now be pursued with even greater urgency given the better-filled coffers.
