Vancouver, British Columbia — February 11, 2026 — Leads & Copy — Perseverance Metals Inc. (TSXV: PMI) will complete a non-brokered private placement financing of up to C$3,000,000. The company, a critical minerals explorer with projects in key North American regions, will use the proceeds to fund exploration projects in Michigan and Quebec and for general corporate purposes.
The offering will consist of up to C$3,000,000 in hard dollar units (HD Units) priced at C$0.65 per HD Unit. Each HD Unit will comprise one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will allow the holder to acquire one additional common share at a price of C$0.95 for 36 months from the date of issuance.
The warrants’ expiry date is subject to acceleration. If the common shares’ closing price on the TSX Venture Exchange equals or exceeds C$1.30 for ten consecutive trading days, the Company may accelerate the expiry date to 30 calendar days following the date on which notice of acceleration is given by news release, with the new expiry date specified in the release. The company has termed this the “Acceleration Clause”.
The proceeds from the offering will fund the inaugural diamond drill campaign on the Voyageur project in the Upper Peninsula of Michigan, continued exploration of the Lac Gayot project in Quebec, and for general corporate purposes.
The Company may pay finder’s fees in connection with the Offering, and insiders of the Company may participate. Any such participation will be considered a related party transaction under Multilateral Instrument 61-101. However, the Company expects that any insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to insiders nor the consideration paid by insiders is expected to exceed 25% of the Company’s market capitalization.
All securities issued under the Offering will be subject to the approval of the TSX Venture Exchange and a statutory hold period of four months and one day under applicable securities laws.
Perseverance Metals is a critical minerals explorer with a project portfolio strategically located in key North American Ni-Cu-Co-PGE and hard rock lithium regions, including Québec’s James Bay district and Michigan’s productive Mid-Continent Rift.
The company says that its science-driven approach and track record of discovery, leveraged via an exceptional technical advisory board and a team armed with next-generation exploration tools, provide a competitive advantage. This offers a chance for investors to be exposed to a portfolio of projects with the potential for multiple discoveries. Perseverance’s exploration assets include:
* The Lac Gayot high-grade Ni-Cu-Co-PGE and lithium pegmatite project, which covers the entirety of the 30km Venus Greenstone Belt in Québec, featuring high-grade Ni-Cu-Co-PGE showings and zones along with spodumene-bearing pegmatites with lithium grades in channel sampling.
* The Voyageur Ni-Cu-Co-PGE project covers 680 km2 of the Upper Peninsula in Michigan, 65 kilometres west of the only producing nickel mine in the United States.
* The Armit Lake Ni-Cu-Co project is the consolidated and underexplored western half of the nickel- and gold-rich Savant Lake Greenstone Belt in Ontario.
Michael J. Tucker, CEO and Director, made the announcement on behalf of the Board.
Source: Perseverance Metals
