VANCOUVER, British Columbia, Sept. 30, 2025 (GLOBE NEWSWIRE) -- SAGA Metals Corp. ("SAGA" or the "Company") (TSXV:SAGA) (OTCQB:SAGMF) (FSE: 20H), a North American exploration company focused on critical minerals, is pleased to announce that it intends to complete a financing by way of a non-brokered private placement for aggregate gross proceeds of up to C$2,988,000 (collectively, the "Offering") comprised of: (i) 7,100,000 flow-through common share units of the Company (the "FT Units") at C$0.28 per FT Unit for gross proceeds of C$1,988,000, and, (ii) 4,000,000 hard dollar common share units of the Company (the "HD Units", and together with the FT Units, the "Securities") at C$0.25 per HD Unit for gross proceeds of C$1,000,000.
Financing Overview:
Each FT Unit consists of one flow-through common share as defined in subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"), and one transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle its holder to purchase one-half of one common share in the capital of the Company (a "Warrant Share") at a price of C$0.50 for 24 months from the closing date of the Offering (the "Closing Date"). The Warrant Shares underlying the FT Units will not qualify as "flow-through shares" under the Tax Act.
Each HD Unit consists of one common share and one-half one Warrant. Each Warrant will entitle its holder to purchase one whole Warrant Share at a price of C$0.50 for 24 months from the Closing Date.
Each of the Warrants will be subject to the right of the Company to accelerate the expiry date of the Warrants to a date that is 30 days following dissemination of a news release announcing such acceleration if, at any time, after the Closing Date, the closing price of the Company's common shares equals or exceeds C$0.75 for a period of ten consecutive trading days on the TSX Venture Exchange.
All securities issued in connection with the Offering are subject to a hold period of four months and one day following the Closing Date pursuant to applicable securities laws. The Company may pay finder's fees in connection with the Offering.
The gross proceeds from the FT Units will be used by the Company for "Canadian exploration expenses" that are "flow-through critical mineral mining expenditures" (as such terms are defined in the Tax Act) on the Company's Canadian mineral resource properties. The net proceeds of the HD Units will be used by the Company for administrative and general working capital, which may include investor relations activities.
The securities of SAGA have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold, within the United States, unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.
No securities regulatory authority has reviewed or approved of the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of SAGA in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Saga Metals Financing Sets the Stage for Advanced Exploration at the Radar Project
Key Highlights:
Saga's field team is on-site preparing for the planned 15,000-metre drill program at the Radar Ti-V-Fe Project in Labrador, Canada.
Drilling is focused on advancing the Trapper Zone's 3+ km strike toward a maiden MRE highlighting titanium, vanadium, and iron ore—critical minerals for the global energy transition.
Ongoing site work includes trench mapping, surveying, and full camp establishment to optimize drill execution.
Infrastructure is in place with new access trails along the oxide layering strike through the Trapper Zone.
The preparation phase is expected to conclude in the coming weeks, with the 15,000m drilling program scheduled to commence in early November 2025.
Preparation begins for a 15,000m Drill Program at the Radar Ti-V-Fe Project:
Field preparations are underway across the Radar Project's Trapper Zone, which spans over a 3+ km strike of oxide mineralization. This mobilization marks a significant step in preparing for a major drill program aimed at expanding known mineralization and advancing toward the completion of a maiden mineral resource estimate (MRE) on the project.
Current work is designed to strengthen drill targeting, maximize efficiency, and ensure high-quality geological data accuracy for the MRE, including:
1. Enhanced Trench Analysis
Building on approximately 504 square metres (5,425 ft²) of trenching completed to date, SAGA is conducting additional high-pressure power washing and detailed geological mapping in three trenches within the Trapper Zone. This work exposes clean bedrock surfaces by removing overburden and vegetation, allowing geologists to document rock types, mineral textures, and oxide layering trends with precision. The process will help refine 3D geological models, confirm continuity of vanadiferous titanomagnetite (VTM) mineralization, and identify the most prospective ...
