Vancouver, British Columbia — January 15, 2026 — Leads & Copy — Borealis Mining Company Limited has closed a “bought deal” private placement offering, raising gross proceeds of C$23,011,500. The offering involved the issuance of 15,341,000 common shares at a price of C$1.50 per share, which included the full exercise of the option granted to the underwriters.
Stifel Canada served as the lead underwriter and sole bookrunner, with Haywood Securities Inc. and Red Cloud Securities Inc. acting as underwriters under the terms of an underwriting agreement dated January 15, 2026.
The company intends to use the net proceeds from the offering to advance its gold projects in Nevada and for general working capital.
The common shares were issued to purchasers resident in certain provinces of Canada, excluding Quebec, under the listed issuer financing exemption under Part 5A of National Instrument 45-106. As a result, the shares are not subject to a statutory hold period under Canadian securities laws. The shares were also offered in the United States and other jurisdictions via private placement, in compliance with applicable laws.
In connection with the offering, Borealis paid the underwriters an aggregate cash commission of $1,370,689.98 and issued 913,793 compensation warrants. Each warrant allows the holder to acquire a common share at C$1.50 for 24 months from the closing date. The compensation warrants and shares issuable upon exercise are subject to a hold period expiring on May 16, 2026.
The offering is subject to final approval by the TSX Venture Exchange.
An offering document is available on SEDAR+ and the company’s website.
Borealis is a gold mining and exploration company focused on its Borealis Mine and Sandman project in Nevada. The Borealis Mine is a fully permitted site with heap leach pads, an ADR facility, and necessary infrastructure. The Sandman project, acquired through Gold Bull Resources Inc., has a NI 43-101 compliant resource and a recent Preliminary Economic Assessment.
Kelly Malcolm, President and Chief Executive Officer
info@BorealisMining.com
Office: (289) 371-3371
Source: Borealis Mining Company Limited
