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PMET Resources Inc (ASX:PMT)

ALERT: Price-sensitive ASX Announcement for PMT
Current share price for PMT : $0.480 -0.07 (-12.73%)+
Announcement
Release
20 Feb 2026 8:23AM
Price at Release
$0.550
Full Release
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Summary
PMET Resources Inc. announced the successful closing of its flow-through private placement and public offering, raising approximately C$138 million. This funding aims to bolster the company's financial position to advance exploration and development at the Shaakichiuwaanaan Project. The offerings included a public offering of common shares and a concurrent private placement of flow-through shares, sold at a significant premium. A new Technical Committee was established to oversee project development, and Volkswagen Finance Luxemburg S.A. plans to participate in a separate private placement. Settlement on the ASX is expected on February 20, 2026.
Key Points
  • PMET Resources Inc. successfully closed a flow-through private placement and public offering.
  • Aggregate gross proceeds amounted to approximately C$138 million.
  • The proceeds will fund exploration and development at the Shaakichiuwaanaan Project.
  • Offerings included a public offering of common shares and a concurrent private placement of flow-through shares.
  • The flow-through shares were sold at a 48% premium to the last traded share price on TSX.
  • A Technical Committee was established for oversight of key technical workstreams.
  • Settlement on the Australian Securities Exchange (ASX) is anticipated to occur on February 20, 2026.
  • Volkswagen Finance Luxemburg S.A intends to participate in a separate private placement.
  • PMET aims to advance the CV13 towards preliminary economic assessment.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.