Defense Metals to Raise CA$6 Million Via Non-Brokered Private Placement

11:40 AM EDT, 09/24/2026 (MT Newswires) -- Defense Metals (DEFN.V) intends to complete a non-brokered private placement for up to about CA$6 million pursuant to the "listed issuer financing exemption," it said in a statement late Wednesday. The offering will consist of up to 42.9-million units at CA$0.14 apiece. Each unit will consist of one common share and one-half of one three-year warrant, each warrant entitling the holder to buy a share for CA$0.21. The company expects to receive a significant lead order of about CA$500,000 from Guy de Selliers, executive chairman of the company, it said. Proceeds, together with its current working capital, will be used to continue to advance the Wicheeda project in Prince George, BC; as well as towards a feasibility study, to advance environmental and social baseline work to support future permitting, and for general and administrative expenses and general corporate needs. The offering may close in one or more tranches. Shares of the company were last seen down 6.3% at CA$0.15 on the TSX Venture Exchange. Price: 0.15, Change: -0.01, Percent Change: -6.25