Blue Moon Announces Follow on Investment of C$4.8M from Hartree

Blue Moon Metals (NASDAQ: BMM / TSXV: MOON) announced a follow-on investment by strategic partner Hartree Partners totaling approximately C$4.8 million.

Rhea-AI Summary

Blue Moon Metals (NASDAQ: BMM / TSXV: MOON) announced a follow-on investment by strategic partner Hartree Partners totaling approximately C$4.8 million. Hartree intends to purchase 526,617 common shares at $9.06 per share under a top-up right from the investor rights agreement.

Completion is subject to TSX Venture Exchange approval and is expected to close by about April 29, 2026. Proceeds are expected to fund project development at the company's brownfield polymetallic projects and for general corporate purposes. Issued shares will be subject to a statutory four-month-plus-one-day hold period in Canada.

Positive

• C$4.8 million gross proceeds to fund project development
• 526,617 common shares purchased by strategic partner Hartree
• Hartree exercises top-up right to retain its interest

Negative

• Financing subject to TSX Venture Exchange approval, closing not guaranteed
• Hartree Shares will be subject to a statutory 4-month-and-one-day hold period

Argus Apr 22 session

+4.32% close to close Open Argus

Details

News Market Reaction – BMM

On Apr 22, the day this news came out, BMM closed 4.32% above the previous close.

Data tracked by StockTitan Argus for the Apr 22 session.

Market Context

This announcement details a follow-on equity investment of C$4.8 million from Hartree at $9.06 per s...

Analysis

This announcement details a follow-on equity investment of C$4.8 million from Hartree at $9.06 per share, with 526,617 new shares and a statutory hold period. It reinforces Hartree’s role as a strategic partner while directing proceeds to brownfield polymetallic project development and corporate purposes. In context of recent feasibility, drilling, and listing milestones, investors may watch for future project progress and additional funding steps.

Key Figures

Hartree shares issued: 526,617 shares Issue price: $9.06 per share Financing size: C$4.8 million +1 more

Hartree shares issued

526,617 shares

Common shares to be issued to Hartree under top-up right

Issue price

$9.06 per share

Price per Hartree Share in the Financing

Financing size

C$4.8 million

Total gross proceeds from Hartree follow-on investment

Hold period

4 months and 1 day

Statutory hold period on Hartree Shares in Canada

Historical Context

5 past events · Latest: Apr 21

5 events

1. Apr 21

   Asset combination LOI

   24h Move

   -6.0%

   Non-binding LOI to combine Sulitjelma district holdings in Norway.

2. Apr 20

   Nasdaq ceremony

   24h Move

   +5.2%

   Participation in Nasdaq Closing Bell Ceremony highlighting new listing.

3. Apr 16

   Feasibility Study

   24h Move

   +3.7%

   Nussir Feasibility Study with defined reserves and project economics.

4. Apr 15

   Drill results

   24h Move

   +3.7%

   Deep step-out and infill drilling results at Nussir copper-gold-silver project.

5. Apr 15

   Partner update

   24h Move

   -1.5%

   Altius project generation update including activity at Blue Moon.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

top-up right

1 terms

top-up right financial

"intention to exercise their "top-up right" as it relates certain share issuances"

A top-up right lets an existing shareholder buy extra shares in a future offering so their percentage ownership in the company doesn’t shrink. Think of it like being offered an option to buy more slices of the same pie when the baker makes a bigger pie, so your share stays the same; for investors, it protects influence and potential returns when new shares are issued.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, April 22, 2026 /PRNewswire/ - Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV: MOON) (NASDAQ: BMM) is pleased to announce that further to its investor rights agreement dated March 7, 2025 (the "Hartree IRA") Hartree Partners LP ("Hartree"), a strategic partner to the Blue Moon, has issued to the Company notice of their intention to exercise their "top-up right" as it relates certain share issuances completed by the Company through March 31, 2026.

Subject to the approval of the TSX Venture Exchange, an aggregate of 526,617 common shares (the "Hartree Shares") will be issued to Hartree at a price of $9.06 per Hartree Share for total gross proceeds of approximately C$4.8 million (the "Financing"), calculated in accordance with the Hartree IRA, to retain its interest in the Company.

Completion of the Financing is subject to approval by the TSX Venture Exchange and is expected to close by about April 29, 2026. No finder's fees were paid in connection with the Financing, and the Hartree Shares issued pursuant to the Financing will be subject to a statutory 4-month and one day hold period in Canada from the date of issuance. The proceeds from the Financing are expected to be used for project development at the Company's brownfield polymetallic projects, as well as for general corporate purposes.

About Blue Moon

Blue Moon is advancing 5 brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States and the Apex germanium-gallium-copper project in the United States. All 5 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU lists of metals critical to the global economy and national security, and germanium and gallium are also on the USGS list of critical metals. Major shareholders include Teck Resources Limited, funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial. More information is available on the Company's website (www.bluemoonmetals.com).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable Canadian and United States securities laws. All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions.

Any forward-looking information contained in this news release represents management's current expectations and is based on information currently available to management and is subject to change after the date of this news release. Accordingly, the Company warns investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding the Company's future results or plans.

The Company cannot guarantee that any forward-looking information will materialize and readers are cautioned not to place undue reliance on this forward-looking information. Except as required by applicable securities laws, the Company is under no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

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SOURCE Blue Moon Metals

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Blue Moon (BMM) announce on April 22, 2026 about Hartree's investment?

Hartree intends to invest approximately C$4.8 million by acquiring 526,617 shares at $9.06 per share. According to the company, this follows a top-up right under the March 7, 2025 investor rights agreement and targets retention of Hartree's interest.

When will the Hartree financing for Blue Moon (BMM) close and what approvals are required?

The transaction is expected to close by about April 29, 2026, subject to TSX Venture Exchange approval. According to the company, completion depends on that regulatory approval and customary closing conditions.

How will Blue Moon (BMM) use the proceeds from Hartree's C$4.8M investment?

Proceeds are expected to be used for project development at brownfield polymetallic projects and for general corporate purposes. According to the company, funds will support ongoing development activities and corporate needs.

Will the Hartree shares issued to Hartree be restricted after issuance to Blue Moon (BMM)?

Yes. The Hartree Shares will be subject to a statutory 4-month-and-one-day hold period in Canada from issuance. According to the company, that hold period applies under Canadian securities rules.

How many shares and at what price is Hartree acquiring in the Blue Moon (BMM) financing?

Hartree intends to acquire 526,617 common shares at a price of $9.06 per share, for gross proceeds of about C$4.8 million. According to the company, the price and share count are calculated under the Hartree investor rights agreement.