Giga Metals Completes Final Tranche of Upsized Private Placement
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VANCOUVER, British Columbia, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Scott Lendrum, CEO of Giga Metals Corp. (“Giga Metals” or the “Company”) (TSX-V: GIGA; OTCQB: GIGGF; FSE: BRR2) is pleased to announce that Giga has completed the private placement previously announced on October 15, 2025.
The Company closed 3,904,109 Units at $0.11 per Non-Flow-Through Unit for gross proceeds of $429,451 and 8,637,693 Units at $0.13 per Flow-Through Unit for gross proceeds of $1,122,900. Each NFT and FT Unit consists of one share and one share purchase warrant. Each full warrant is exercisable at Cdn. $0.25 for three years, expiring October 29, 2028 and November 6, 2028 respectively. The securities issued have a hold period expiring 4 months plus one day after issuance, being March 2, 2026 and March 9, 2026 respectively.
“With the completion of the second and final tranche of our private placement, Giga Metals is well-funded to advance exploration at Turnagain,” said CEO Scott Lendrum. “Our immediate focus is on evaluating underexplored areas, including the Attic zone, which shows promising potential for copper and PGE mineralization. This funding sets the stage for a productive 2026.”
Finder's fees were paid on 12,250,893 Units for a total of $106,424 in cash plus a total of 857,563 finder's warrants. Each finder's warrant is exercisable into one common share of the Company at a price of $0.13 per common shares for a period of three years from the date of issuance, being October 29, 2025 and November 6, 2025 respectively.
The proceeds of the private placement will be used for general corporate purposes and the Company’s exploration program.
No control blocks were created as a result of the private placement.
Further to the press release dated July 2, 2025, Giga is settling an aggregate of approximately $63,250 in debt through the issuance of common shares to be issued at a deemed price of $0.10 per common share. Of the liabilities proposed to be settled in shares, $25,000 is payable to a former officer for management services rendered. The balance is payable to arm’s length parties. Completion of the debt settlement remains subject to the finalization of definitive documentation and the approval of the TSX Venture Exchange.
About Giga Metals Corporation
Giga Metals Corporation’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned jointly by Giga Metals Corporation and Mitsubishi Corporation. The Pre-Feasibility Study was released in October 2023.
The Turnagain ultramafic complex is also prospective for copper, platinum and palladium mineralization in the Attic Zone, an area adjacent to the known nickel resource.
Forward-looking Statements
Certain statements in this news release are forward-looking statements, which reflect the expectations of the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements include, but are not limited to, completion of the Private Placement and any additional funding for the Turnagain Project. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: the conditions to closing of the Private Placement may be not be satisfied; the Company may not be able to locate suitable investors for the Private Placement and the terms for any additional funding of the Turnagain Project may not be finalized. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
On behalf of the Board of Directors of Giga Metals Corporation
“Scott Lendrum”
SCOTT LENDRUM,
CEO and Director
Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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