Blue Moon Metals Raises CA$35 Million Via Non-Brokered Private Placement with The Elmet Group

08:06 AM EDT, 10/19/2026 (MT Newswires) -- Blue Moon Metals (MOON.V, BMM) closed its non-brokered private placement with The Elmet Group (ELMT), raising gross proceeds of CA$35 million, it said Monday. Under the equity subscription, which was made in connection with The Elmet Group's investment in the Springer Tungsten Complex, Blue Moon Metals issued 3.5 million units at a price of CA$10.00 each, it said. Each unit is made up of a share and a three-year warrant entitling the holder to buy an additional share at an exercise price of CA$10.80, it said. The equity subscription remains subject to the final approval of the TSX Venture Exchange and the net proceeds will be used to fund the development of the Springer Project, it added. The company entered into an investor rights agreement with The Elmet Group, in connection with the equity subscription, which, among other things, grants Elmet a board nomination right, equity participation rights, top-up rights and information rights, said the company. Under the investor rights agreement, the company appointed William Jacob Homiller to the board of directors, effective Oct. 16, added Blue Moon Metals.