Peruvian Metals Closes Private Placement

Rhea-AI Summary

Peruvian Metals (OTC: DUVNF) closed a non-brokered private placement on March 26, 2026, issuing 5,200,000 Units at $0.15 per Unit for gross proceeds of $780,000. Each Unit includes one common share and one-half warrant exercisable at $0.20 for one year.

The company paid $15,999 cash in finders fees and issued 106,659 finders warrants. Insiders purchased 81,300 Units. Securities are restricted from resale until July 26, 2026, and closing remains subject to TSX Venture Exchange approvals. Net proceeds will fund Aguila Norte plant expansion, potential acquisitions, and working capital.

Positive

• Gross proceeds of $780,000 raised
• Funding allocated to Aguila Norte plant expansion
• Insider participation of 81,300 Units ($12,195), aligning management with shareholders

Negative

• Potential dilution from up to 2,706,659 warrants exercisable at $0.20
• Closing subject to TSX Venture Exchange approval, creating conditional completion risk
• Resale restrictions in place until July 26, 2026, limiting immediate liquidity

News Market Reaction – DUVNF

-12.87%

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-12.87% News Effect

On the day this news was published, DUVNF declined 12.87%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Edmonton, Alberta--(Newsfile Corp. - March 26, 2026) - Peruvian Metals Corp - (TSXV: PER) ("Peruvian Metals" or the "Company") is pleased to announce the closing of its non-brokered private placement (the "Offering") previously announced on March 12 and 13, 2026. Pursuant to the Offering, the Company issued an aggregate of 5,200,000 units ("Units") at an issue price of $0.15 per Unit, for aggregate gross proceeds of $780,000. Each Unit consists of one (1) common share of the Company, and one-half (1/2) non-transferable share purchase warrant (the "Warrants") of the Company. Each Warrant will be exercisable to acquire one (1) additional common share for one year from the closing date of the Offering at a price of $0.20 per share, subject to certain acceleration conditions.

In connection with the Offering, the Company paid finders fees of an aggregate of $15,999 in cash and issued an aggregate of 106,659 finders warrants (the "Finders Warrants") of the Company to certain arm's length finders. The Finders Warrants were issued with the same terms of the Warrants. All the securities issued will be subject to resale restrictions until July 26, 2026. The net proceeds of the Offering will be used to make improvements and additions for expansion to its Aguila Norte processing plant, for potential new acquisitions, and for general working capital requirements. The completion of the Offering, including all issuances of Units, remains subject to certain regulatory approvals, including the approval of the TSX Venture Exchange.

Insiders of the Company have subscribed for and acquired an aggregate of 81,300 Units in the Financing ($12,195), which participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange (which incorporates the requirements of MI 61-101). However, such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the Shares acquired by the insiders of the Company, nor the consideration for the Shares paid by such insiders, exceed 25% of the Company's market capitalization for the purposes of MI 61-101.

About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to acquire and develop precious and base metal properties in Peru and to provide clients with toll milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Company with the ability to expand operations past the current 100 tonnes per day level.

ON BEHALF OF PERUVIAN METALS
CORP.

(Signed) Jeffrey Reeder

For additional information, contact:
Jeffrey Reeder, C.E.O.
Telephone: (647) 302-3290
Email: jeffrey.reeder@peruvianmetals.com

Neither the 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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions, and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289916

FAQ

How much did Peruvian Metals (DUVNF) raise in the March 26, 2026 private placement and at what price?

The company raised $780,000 by issuing 5,200,000 Units at $0.15 each. According to the company, each Unit includes one common share and one-half warrant exercisable to purchase a share at $0.20 for one year.

What will the net proceeds from Peruvian Metals (DUVNF) private placement be used for?

Net proceeds will fund Aguila Norte processing plant improvements and expansion, potential new acquisitions, and general working capital. According to the company, these are the stated primary uses of the funds from the Offering.

How many warrants were issued in Peruvian Metals (DUVNF) financing and what are the exercise terms?

The Offering created 2,600,000 warrants from Units plus 106,659 finders warrants, exercisable at $0.20 for one year. According to the company, finders warrants carry the same terms as the Warrants.

Did insiders participate in Peruvian Metals (DUVNF) private placement and does it require shareholder approval?

Insiders subscribed for 81,300 Units ($12,195); the participation is a related party transaction but exempt from formal valuation and minority approval under MI 61-101. According to the company, exemptions applied under specified MI 61-101 sections.

Are there resale restrictions or closing conditions for Peruvian Metals (DUVNF) Offering?

Yes. Securities issued are restricted from resale until July 26, 2026, and completion remains subject to TSX Venture Exchange regulatory approvals. According to the company, final closing is conditional on those approvals.

What were the finders' compensation details in the Peruvian Metals (DUVNF) private placement?

The company paid $15,999 in cash and issued 106,659 finders warrants with the same terms as the Offering Warrants. According to the company, these fees were paid to certain arm's length finders.