SAGA Metals Corp. Finishes Final Stage of Initial Public Offering

SAGA Metals Corp. (TSXV: "SAGA") (FSE: "20H"), a North American company dedicated to exploring critical minerals in Canada, has announced the completion of the second and final tranche of its initial public offering (IPO). This effort has successfully raised a total of $1,116,460.68 in gross proceeds.

The offering included the full exercise of an over-allotment option awarded to Research Capital Corporation, the sole agent of this IPO. It comprised a total of 554,250 hard dollar units (each referred to as an "HD Unit") priced at $0.40 per unit. Additionally, the offering included 1,030,751 standard flow-through units ("Standard FT Units") priced at $0.48 each, and 666,667 charity flow-through units ("Charity FT Units") priced at $0.60 each, all in alignment with the final prospectus dated August 30, 2024.

Each HD Unit consists of one common share of SAGA and one-half of a transferable common share purchase warrant ("HD Warrant"). These warrants allow the holder to purchase one common share at a price of $0.60 per warrant share until September 23, 2026. The Standard FT Units include a flow-through share and half of a Standard FT Warrant, which also allows for future share purchases under similar conditions. The Charity FT Units follow the same structure but are designated for charitable contributions.

In connection with the offering, the Company compensated Research Capital Corporation with a cash commission of $69,666.85 and a corporate finance fee, in addition to granting non-transferable warrants allowing the purchase of 146,308 common shares at $0.40 per share until September 23, 2026.

Funds generated from this offering will be allocated primarily to exploration programs on the Company's flagship Double Mer Uranium Project. These resources will also assist in maintaining other properties and general administrative expenses.

The company notes that the securities involved in this offering are not registered under the U.S. Securities Act of 1933 and cannot be sold in the United States without proper exemptions.

“Securing funding for our maiden drilling program at the Double Mer Uranium project is a major step forward for SAGA,” stated Michael Garagan, Chief Geological Officer and Director of SAGA Metals Corp.

CEO & Director Mike Stier expressed pride in the team’s dedication, stating, “We have finalized our IPO, achieving the maximum threshold raised, including the overallotment option, totaling around $2,875,000. Given market conditions, this is a significant accomplishment, which positions us to drive growth and enhance shareholder value.”

About SAGA Metals Corp.

SAGA Metals Corp. focuses on the exploration and discovery of critical minerals necessary for the global shift toward clean energy. The Double Mer Uranium Project, located in Labrador, Canada, spans 25,600 hectares and features uranium readings that indicate a potentially rich 18-kilometer mineral trend. In addition to uranium, SAGA also owns the Legacy Lithium Property in Quebec and the secondary properties targeting titanium, vanadium, and iron ore.

Currently, SAGA’s properties cover a total area of 65,849 hectares and maintain significant geological continuity with notable players in the industry, including Rio Tinto. Through its diverse mineral portfolio, SAGA aims to strategically contribute to the advancement of the clean energy transition and enhance its position in the evolving mining landscape.

SAGA, IPO, Securities