Green Bridge Announces Closing of Non-Brokered Private Placement for Gross Proceeds of C$4 Million

Rhea-AI Summary

Green Bridge Metals (OTCQB:GBMCF) closed a fully subscribed non-brokered private placement of 33,333,333 Units at C$0.12 per Unit for gross proceeds of C$4,000,000 on February 3, 2026. Each Unit includes one common share and one warrant exercisable at C$0.15 until Feb 3, 2029.

Net proceeds are for existing operations and general working capital. Securities carry a statutory hold of four months and one day. The company paid finders cash fees of $102,700.01, issued finder shares and finder warrants, and issued 333,333 admin fee shares (1%). Investor Russell Starr bought 6,000,000 Units and joined as Strategic Advisor. Securities are not registered for US sale.

Positive

• Raised C$4.0M through a fully subscribed private placement
• Strategic investor Russell Starr bought 6,000,000 Units and joined as Strategic Advisor
• Warrants exercisable at C$0.15 until Feb 3, 2029 providing long-dated capital optionality

Negative

• Issued 33,333,333 Units, creating immediate shareholder dilution and warrant overhang
• Paid $102,700.01 in cash finders fees plus finder shares and 855,833 finder warrants

News Market Reaction

-24.59%

1 alert

-24.59% News Effect

On the day this news was published, GBMCF declined 24.59%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, BC / ACCESS Newswire / February 3, 2026 / Green Bridge Metals Corporation (CSE:GRBM)(OTCQB:GBMCF)(FWB:J48, WKN:A3EW4S) ("Green Bridge" or the "Company") is pleased to announce, further to its news release dated January 14, 2026, that it has closed its fully-subscribed, non-brokered private placement (the "Offering") of 33,333,333 units of the Company ("Units") at a price of $0.12 per Unit for aggregate gross proceeds of $4,000,000.

Each Unit is comprised of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one Common Share until, February 3, 2029 (the "Expiry Date") at an exercise price of C$0.15 (the "Exercise Price").

The net proceeds from the Offering are expected to be used to support the Company's existing operations, as well as for general working capital purposes. The securities issued under the Offering will be subject to a statutory hold period of four months and one day from the Closing Date. In connection with the Offering, the Company paid certain finders aggregate cash fees of $102,700.01 and granted an aggregate of 100,000 finder shares and 855,833 finder warrants (the "Finder Warrants"). Each Finder Warrant entitles the holder to purchase one Common Share at the Exercise Price until the Expiry Date. The Company also issued 333,333 Common Share, equal to 1.0% of the total Units issued in the Offering (the "Admin Fee Shares"), to an arm's-length third party, as an administrative fee for their assistance with the Private Placement.

The Company is pleased to announce that famed mining investor, Mr. Russell Starr, acquired 6,000,000 Units under the Offering and has joined the Company as a Strategic Advisor. Mr. Starr is a former Bay Street executive and associate hedge fund manager. Mr. Starr is also a seed investor in Echelon Wealth Partners (now Ventum Financial Corp.), a large Canadian investment dealer. Mr. Starr held executive and board positions at Cayden Resources Inc. and Auryn Resources Inc. amongst other public issuers. As a senior executive, board member and corporate finance specialist with Cayden Resources Inc., Mr. Starr was involved in marketing and financing development efforts including the sale of Cayden Resources Inc. for C$205M to Agnico Eagle Mines Limited in 2014. As chief executive officer of Trillium Gold Mines Inc. (now Renegade Gold Inc.), Mr. Starr was involved in the consolidation of the confederation greenstone belt in the Red Lake mining camp and the establishment of an exploration portfolio in both precious metals and critical elements. Mr. Starr's most recent role was with DeFi Technologies Inc. as Head of Capital Markets, where he was part of the team that helped the company list on the Nasdaq Capital Market. Mr. Starr holds a bachelor's degree in economics from Queen's University, a master's degree in econometrics from the University of Victoria and an MBA from the Ivey Business School at Western University.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. Persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Green Bridge Metals

Green Bridge is a Canadian based exploration company focused on the acquisition and development of "critical mineral" rich assets in North America. Two projects of merit are the focus of the Company's activity which include the Serpentine property ("Serpentine") and the South Contact District ("South Contact Project"). The South Contact Project includes the Titac property ("Titac") and the Skibo property which exist along the basal contact of the Duluth Complex, north of Duluth, Minnesota. The projects together contain bulk-tonnage copper-nickel and titanium-vanadium mineral resources hosted in mafic, ultramafic, and oxide ultramafic intrusions. Serpentine is a magmatic sulphide style deposit with an inferred and indicated mineral resource estimates for copper and nickel. A portion of the Titac property, known as "Titac South" contains an inferred mineral resource estimate for titanium dioxide mineralization, details of which are available in a NI 43-101 compliant technical report entitled, "Technical Report and Mineral Resource Estimate for the South Contact Zone Project, St. Louis County, Minnesota, USA" with an effective date of September 18, 2024, and is available on the Company's SEDAR+ profile at www.sedarplus.ca.

ON BEHALF OF GREEN BRIDGE METALS,

"David Suda"

President and Chief Executive Officer

For more information, please contact:

David Suda
President and Chief Executive Officer
Tel: 604.928-3101
investors@greenbridgemetals.com

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

Forward-Looking Statements

This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur, including statements regarding: the intended use of proceeds of the Offering; Mr. Starr's role as special advisor to the Company; and the exercise or expiry of the Warrants.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. In some instances, material assumptions and factors are presented or discussed in this news release in connection with the statements or disclosure containing the forward-looking information and statements. Readers are cautioned that the following list of material factors and assumptions is not exhaustive. The factors and assumptions include, but are not limited to, assumptions concerning: the Company using the net proceeds of the Offering as anticipated; the price of metals; costs of exploration and development; and the Company's ability to operate in a safe and effective manner.

Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is 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 information, including, without limitation: the proceeds from the Offering being used as planned; competitive risks and the availability of financing; precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors as detailed from time to time. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's latest Management's Discussion and Analysis filed on the Company's SEDAR+ profile at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE: Green Bridge Metals Corporation

View the original press release on ACCESS Newswire

FAQ

What did Green Bridge (GBMCF) raise in the February 3, 2026 private placement?

The company raised C$4.0 million in a fully subscribed non-brokered private placement. According to the company, 33,333,333 Units were sold at C$0.12 each, each Unit including one share and one warrant exercisable at C$0.15 until Feb 3, 2029.

How many Units did investor Russell Starr purchase in the GBMCF private placement and what is his role?

Russell Starr acquired 6,000,000 Units and joined as a Strategic Advisor. According to the company, his investment and advisory role aim to support capital markets and financing initiatives based on his prior mining and capital markets experience.

What are the warrant terms issued in Green Bridge's (GBMCF) financing round?

Each Unit included a warrant exercisable to buy one share at C$0.15 until Feb 3, 2029. According to the company, finder warrants and initial Unit warrants share the same exercise price and expiry date, creating potential future share issuance if exercised.

How will Green Bridge (GBMCF) use the net proceeds from the C$4.0M placement?

Net proceeds are intended to support the company's existing operations and provide general working capital. According to the company, funds will be allocated to operational needs and liquidity rather than a designated acquisition or capital project.

Were there any fees or admin shares issued in Green Bridge's (GBMCF) private placement?

Yes. The company paid $102,700.01 in finder cash fees, issued 100,000 finder shares, 855,833 finder warrants, and 333,333 admin fee shares (1% of Units). According to the company, these were paid for placement and administrative assistance.