Peruvian Metals Upsizes Private Placement

Rhea-AI Summary

Peruvian Metals (OTC: DUVNF) upsized a non‑brokered private placement to raise up to $1,050,000 by issuing 7,000,000 units at $0.15 per unit. Each unit includes one common share and one‑half warrant exercisable at $0.20 for two years.

Warrants include an acceleration clause if shares trade at or above $0.40 for five consecutive trading days. Securities will be subject to a four‑month plus one‑day hold. Closing remains subject to TSX Venture Exchange final approval.

Positive

• Upsized private placement to $1,050,000 gross proceeds
• Issuance of 7,000,000 units at $0.15 per unit
• Warrants exercisable at $0.20 for a two‑year term

Negative

• Potential dilution from 7,000,000 new shares and warrants
• Finders fees up to 7% payable in cash and/or warrants
• Securities subject to four months and one day hold period

Edmonton, Alberta--(Newsfile Corp. - March 13, 2026) - Peruvian Metals Corp. (TSXV: PER) ("Peruvian Metals" or the "Company") is pleased to announce that it has increased the size of its non-brokered private placement previously announced on March 12, 2026, due to increased shareholder and investor demand. The Company will now raise gross proceeds of up to $1,050,000 via the issuance of 7,000,000 units at a price of $0.15 per unit, each unit being comprised of one common share and one-half non-transferable share purchase warrant.

Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.20 per common share for a period of two years following the closing date. The warrants will be subject to an acceleration clause; in the case that market price for the Company's common shares is equal to or greater than $0.40 per share for a period of five consecutive trading days at any point during the term of the warrants, then the Company may deliver a notice that the warrants must be exercised within thirty days from the date of delivery of such notice.

The common shares, warrants, and any shares issued on the exercise of warrants will be subject to a hold period expiring four months and one day following the date of issue. Finders fees of 7% (or such other amount as determined by the Company) may be paid to arm's length finders in cash and/or finders warrants on some or all proceeds raised in the private placement. Completion of the private placement is subject to final approval of the TSX Venture Exchange.

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. The Company's business model is to produce high grade concentrates from its 100% owned Properties. The Company continues to acquire and develop precious and base metal properties in Peru.

For further information on Peruvian Metals Corp., please visit www.peruvianmetals.com.

Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange: Symbol "PER"
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com 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/288355

FAQ

What exactly is Peruvian Metals (DUVNF) raising in the March 2026 private placement?

The company is raising up to $1,050,000 through a non‑brokered private placement. According to the company, proceeds come from issuance of 7,000,000 units at $0.15 per unit, each with one common share and one‑half warrant.

What are the warrant terms in Peruvian Metals' (DUVNF) upsized offering?

Each warrant allows purchase of one common share at $0.20 for two years from closing. According to the company, warrants include an acceleration clause if the share price reaches $0.40 for five consecutive trading days.

How will the private placement affect DUVNF shareholder dilution?

The placement issues 7,000,000 units, creating potential dilution from those shares plus up to 7,000,000 warrants. According to the company, exercised warrants would add shares if holders convert at $0.20 within the two‑year term.

Are there fees or restrictions tied to Peruvian Metals' (DUVNF) private placement?

Finders fees of up to 7% may be paid in cash and/or finders warrants on some proceeds. According to the company, all issued securities and any shares from exercised warrants carry a four‑month plus one‑day hold period.

Is the Peruvian Metals (DUVNF) private placement final or conditional?

The private placement is conditional and requires final TSX Venture Exchange approval before closing. According to the company, the upsized offering reflects increased investor demand but remains subject to regulatory sign‑off.