GlobeNewswire·Oct 23, 2026, 10:18 AM ET

Hercules Metals Announces Upsize of "Bought Deal" Private Placement of Common Shares to $45 Million

Hercules Metals Corp. amended its private placement agreement with Canaccord Genuity Corp. and BMO Capital Markets due to strong investor demand.
The offering size was increased to 51,725,000 common shares at $0.87 per share for gross proceeds of $45,000,750.
Underwriters received an option to purchase up to 5,747,200 additional shares at the same price for up to $5,000,064 in proceeds.
Net proceeds will fund the Hercules Project, working capital, and general corporate purposes.
The offering is conducted via private placement in Canada (excluding Quebec) with closing anticipated around November 12, 2026.
Regulatory approvals including conditional TSX Venture Exchange approval are required before closing.
Issued securities are subject to a hold period of four months and one day from the closing date.
The Hercules Project is a 100% owned porphyry copper system in Idaho supported by a strategic investment from Barrick Mining Corporation.