TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV:MOON; OTCQX: BMOOF), (TSXV: MOON; OTCQX:BMOOF), is pleased to announce that as a result of strong investor demand, the Company has entered into an amended letter agreement with Scotiabank and Canaccord Genuity Corp., acting as joint bookrunners on behalf of a syndicate of underwriters, including Cormark Securities Inc., acting as co-lead underwriter, Haywood Securities Inc. and Fearnley Securities AS (collectively, the "Underwriters"), to increase the size of its previously announced "bought deal" public offering from aggregate gross proceeds of C$60,060,000 to C$75,240,000 (the "Upsized Offering"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis from the Company, 22,800,000 common shares of Blue Moon (the "Common Shares") at a price of C$3.30 per Common Share.
Blue Moon has granted the Underwriters an over-allotment option (the "Over-Allotment Option") to purchase, on the same terms and conditions of the Upsized Offering, up to an additional 15% of the Common Shares issued in connection with the Upsized Offering. The Over-Allotment Option is exercisable, in whole or in part, by the Underwriters at any time until and including 30 days after closing of the Upsized Offering. The maximum gross proceeds raised under the Upsized Offering will be C$86,526,000 in the event the Over-Allotment Option is fully exercised.
The Upsized Offering is expected to close on or about October 1, 2025, and is subject to customary closing conditions, including all necessary stock exchange and other regulatory approvals.
The net proceeds from the Upsized Offering are expected to be used to develop the Blue Moon project in California, confirm the ideal processing solution for the mineralized material from the Blue Moon project, ...
