Casa Minerals Inc. Announces Closing of First Tranche of Private Placement

Rhea-AI Summary

Casa Minerals (OTCQB: CASXF) closed the first tranche of a non-brokered private placement on February 3, 2026, issuing 4,917,000 units at $0.125 per unit for gross proceeds of $614,625. Each Unit includes one share and one two-year warrant exercisable to February 4, 2028, with a staged strike price of $0.15 for three months then $0.20. Securities carry a 4-month plus one day hold period. A finder fee of $24,000 was paid to registered financial institutions. Net proceeds will fund administration, exploration and development in Arizona and British Columbia. The balance of the placement remains to be raised and TSXV approval is required.

Positive

• Raised $614,625 through issuance of 4,917,000 units
• Net proceeds earmarked for exploration and development in Arizona and British Columbia

Negative

• Issued 4,917,000 warrants creating potential dilution if exercised
• Paid a $24,000 finder fee, reducing net financing proceeds

News Market Reaction – CASXF

-20.36%

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-20.36% News Effect

On the day this news was published, CASXF declined 20.36%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - February 3, 2026) - Casa Minerals Inc. (TSXV: CASA) (OTCQB: CASXF) (FSE: 0CM) (the "Company" or "Casa"), is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the "Offering"). The Company has closed on a total of 4,917,000 units (each, a "Unit") at a price of $0.125 per unit for gross proceeds of up to $614,625.00.

Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (each full warrant, a "Warrant"). Each of the 4,917,000 Warrants entitles the holder to acquire one additional share for a period of two years until February 04, 2028. The warrant exercise strike price is $0.15/share in the first three months and automatically converts to $0.20 per share then after for the remainder of the two years period.

All issued Securities will be subject to a 4-month and one day hold-period, during which any resale or other transfer will be restricted in accordance with applicable securities laws.

A Finder's Fees of $24,000 has been paid to registered financial institutions.

Net proceeds from the offering will be used for general administration, exploration and development activities on the Company's projects in Arizona, and British Columbia, Canada. The Company will continue to raise the remaining placement in the coming week.

The completion of the private placement remains subject to approval of the TSX Venture Exchange.

None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada and the USA. Casa owns ninety percent (90%) interest in the Congress gold mine (Arizona, USA). Additionally, the Company owns a one hundred percent (100%) interest in the polymetallic Pitman (BC, Canada) and has an option to acquire a seventy-five percent (75%) interest in the Arsenault VMS Property (BC, Canada).

On Behalf of Board of Directors,
Farshad Shirvani, M.Sc. Geology
President and CEO

For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 678-9587
Email: contact@casaminerals.com
https://www.casaminerals.com

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282620

FAQ

How much did Casa Minerals (CASXF) raise in the first tranche of its February 2026 private placement?

Casa Minerals raised $614,625 in the first tranche. According to the company, proceeds came from 4,917,000 units at $0.125 each and will fund administration and exploration work.

What does each unit in Casa Minerals' (CASXF) private placement include and how long do warrants last?

Each unit includes one share and one warrant exercisable for two years. According to the company, warrants expire February 4, 2028 with a staged strike price of $0.15 then $0.20.

Will Casa Minerals' (CASXF) new securities be immediately tradable after issuance?

No, the securities are subject to a 4-month plus one day hold period. According to the company, resale or transfer is restricted under applicable securities laws during that period.

How will Casa Minerals (CASXF) use the net proceeds from the private placement?

Net proceeds will be used for general administration and exploration and development activities. According to the company, funds target projects in Arizona and British Columbia, Canada.

Are the securities from Casa Minerals' (CASXF) private placement registered for sale in the United States?

No, the securities are not registered under the U.S. Securities Act of 1933. According to the company, they cannot be offered or sold in the U.S. absent registration or an available exemption.