Purecore Metals Inc. Closes $3.52M Private Placement

VANCOUVER, British Columbia, Oct. 19, 2026 /CourierPR/ -- Purecore Metals Inc., a Canadian mineral exploration company focused on uranium and copper assets, has successfully closed a non-brokered private placement, raising C$3,523,754.50 in gross proceeds. This financing will support the company's exploration activities and corporate operations.

The private placement included the issuance of 1,000,668 flow-through units (FT Units) at C$1.50 per unit, generating C$1,501,002. Each FT Unit consists of one common share and one common share purchase warrant. These warrants will allow the holder to acquire one additional non-flow-through common share at an exercise price of C$2.00 per share for a period of 36 months from the closing date, subject to acceleration if the common share price reaches C$2.50 or higher for 10 consecutive trading days.

Additionally, 1,498,335 hard dollar units (HD Units) were issued at C$1.35 per unit, raising C$2,022,752.50. Each HD Unit comprises one common share and one warrant, with the same exercise terms as the FT Units. The company will use the proceeds from the HD Units to advance its mineral exploration activities, acquire properties, and engage in consulting and marketing efforts.

Purecore Metals Inc. also paid a cash finder’s fee of C$28,175.17 and issued 20,871 non-transferable non-flow-through finder’s warrants. These warrants are exercisable to acquire one common share at C$2.00 per share for a period of 36 months from the date of issuance. The company intends to renounce qualifying expenditures to FT Unit subscribers, with an effective date no later than December 31, 2026, in an amount not less than the gross proceeds allocated to the common shares comprising the FT Units.

To support liquidity in the market, Purecore Metals Inc. has engaged ICP Securities Inc. to provide market-making services. ICP will trade the company’s common shares on the Canadian Securities Exchange (CSE) and other venues, aiming to maintain a reasonable market and improve liquidity. ICP will be paid a monthly fee of C$7,500 plus applicable taxes, with the agreement set to commence on October 13, 2026, and renew for additional one-month terms unless terminated by either party with 30 days’ notice.

The net proceeds from the private placement will be used to advance the company’s mineral exploration activities, for property-related expenditures and acquisitions, consulting and advisory services, and for general corporate and working capital purposes, including marketing and investor relations activities. The company’s strategy is focused on building a portfolio of high-quality exploration and development opportunities with the potential to host significant scale.