Sun Peak Metals Closes Around CA$11.4 Million Non-Brokered Private Placement

10:56 AM EDT, 10/19/2026 (MT Newswires) -- Sun Peak Metals (PEAK.V) raised gross proceeds of around CA$1.7 million from the second and final tranche of its non-brokered private placement that raised total gross proceeds of around CA$11.4 million, it said Monday. The company has now issued a total of around 28.5-million units at a price of CA$0.40 each with the closing of the final tranche, it said. Each unit is made up of a share and one-half of a warrant, with each whole warrant entitling the holder to buy a share at a price of CA$0.55 per warrant share for a period of two years from the date of closing of the applicable tranche of the offering, the company said. The warrants will be subject to an accelerated expiry provision, it added. The company will use the net proceeds for exploration on its projects in the Kingdom of Saudi Arabia and Ethiopia, the costs of the offering and for general working capital, it said. The offering remains subject to the final acceptance of the TSX Venture Exchange, added Sun Peak Metals. The company's shares were last seen up CA$0.015, or 4.4%, at CA$0.355 on the TSX Venture Exchange. Price: 0.36, Change: +0.02, Percent Change: +4.41