South Pacific Metals Raises CA$20 Million

09:47 AM EDT, 09/23/2026 (MT Newswires) -- South Pacific Metals (SPMC.V) closed its best-efforts private placement of units, raising CA$20 million, it said in a statement on Wednesday. Each unit consisted of one common share and one two-year warrant, with each warrant entitling the holder to buy a share for CA$1.40. A total of 24.1-million units were issued at CA$0.83 apiece as part of the offering, which includes proceeds from the full exercise of the agents' option to purchase an additional 6-million units, it said. Proceeds will be used to expand exploration activities and for general corporate needs. Shares of the company were last seen up 1.3% at CA$0.81 on the TSX Venture Exchange. Price: 0.81, Change: +0.01, Percent Change: +1.25