Metalero Closes Oversubscribed Private Placement

Rhea-AI Summary

Metalero Mining (OTC: CRTTF) closed an oversubscribed non-brokered private placement on March 18, 2026, issuing 3,333,331 common shares at $0.15 for gross proceeds of $499,999.65.

The company paid $12,000 cash and issued 79,999 finder's warrants exercisable at $0.15 for two years. Proceeds will fund exploration, development and general working capital. Securities are subject to a hold period until July 18, 2026. An insider subscribed for 334,000 units; the company relied on MI 61-101 exemptions.

Positive

• Gross proceeds of $499,999.65 raised via private placement
• Proceeds earmarked for exploration, development and working capital
• Oversubscribed offering indicates investor demand at $0.15

Negative

• Issued 3,333,331 new shares causing immediate dilution to existing holders
• Issued 79,999 finder's warrants exercisable at $0.15, potential future dilution
• Insider purchased 334,000 units, a related-party subscription under MI 61-101

Edmonton, Alberta--(Newsfile Corp. - March 18, 2026) - Metalero Mining Corp. (TSXV: MLO) (OTC Pink: CRTTF) ("Metalero" or the "Company") is pleased to announce that it has closed its non-brokered private placement (the "Offering") previously announced on February 12, 2026. Metalero issued 3,333,331 common shares (the "Shares") at a price of $0.15 per Share, for total gross proceeds of $499,999.65.

In connection with the sale of these Shares, Metalero paid a total of $12,000 in cash and issued 79,999 non-transferable finder's warrants (the "Finder's Warrants") to eligible finders for certain of the Shares sold. Each Finder's Warrant entitles the holder to purchase one (1) common share of Metalero at a price of $0.15 per share, for up to two (2) years from the date of issuance.

The net proceeds from the Offering are intended to fund ongoing exploration and development activities on the Issuer's mineral properties and for general working capital purposes. All securities issued are subject to a hold period until July 18, 2026.

One insider participated in the Offering, acquiring a total of 334,000 Units. Such subscription by the insider of Metalero for a portion of the Offering constitute a related party transaction for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the subscription, insofar as it involves the insider of the Company, does not exceed 25% of the market capitalization of the Issuer, as determined in accordance with MI 61-101. The Offering did not result in the creation of a new control person.

For additional information with respect to this Offering, please refer to Metalero's news release dated February 12, 2026, available for viewing on Metalero's SEDAR+ profile (www.sedarplus.ca).

About Metalero Mining Corp.

Metalero Mining Corp. is a Canadian-based junior exploration company focused on copper and gold projects in North America. Its 173 square kilometer, road-accessible Benson Project serves as Metalero's flagship and is host to five prospects containing gold and copper within porphyry-related mineralized systems.

On behalf of the Board of Directors

"Rob L'Heureux"
Rob L'Heureux,
Chief Executive Officer and President
Email: robl@metalsgroup.com
Telephone: +1.780.916.5482

www.metalsgroup.com

Metalero is part of the Metals Group of Companies, managed by exploration professionals who stand for technical excellence, robust project selection and strong corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.

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.

Forward-Looking Statements This news release may contain certain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements in this press release are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These include, but are not limited to, structure and terms of the Offering, the anticipated closing date(s) of the Offering, the intended use of proceeds of the Offerings, and approval of the Offerings by the TSX-V, risks associated with the mining industry in general, the exploration and development of mineral properties, the Company's ability to obtain necessary financing, and general economic, market or business conditions. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. Metalero disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289023

FAQ

How much did Metalero (CRTTF) raise in the March 18, 2026 private placement?

Metalero raised $499,999.65 by issuing 3,333,331 shares at $0.15 each. According to Metalero, the Offering closed oversubscribed and generated those gross proceeds to fund exploration, development and general working capital.

What are the terms of the finder's warrants issued by Metalero (CRTTF)?

Finder's warrants total 79,999, each exercisable at $0.15 for two years. According to Metalero, these non-transferable warrants were issued to eligible finders and may convert to common shares if exercised within the two-year term.

Did any insiders participate in Metalero's (CRTTF) March 2026 offering and what does that mean?

An insider subscribed for 334,000 units in the Offering. According to Metalero, this constitutes a related-party transaction under MI 61-101, and the company relied on exemptions from formal valuation and minority approval requirements.

When do the securities issued in Metalero's (CRTTF) private placement become tradable?

All securities issued are subject to a hold period until July 18, 2026. According to Metalero, investors and warrant holders must respect the hold period before the issued shares can be freely traded.