Sun Peak Metals Announces $5.0 Million Private Placement Offering of Subscription Receipts
Sun Peak Metals (OTCQB:SUNPF) announced a non‑brokered private placement of up to 14,285,714 subscription receipts at $0.35 per receipt for aggregate gross proceeds of up to $5.0 million to fund property advancement, working capital and general corporate purposes in connection with a planned business combination with Saudi Discovery Company SPV Limited.
Each receipt will convert to one unit (one share + 1/2 warrant) on satisfaction of escrow release conditions; warrants convert to Sun Peak warrants exercisable at $0.50 for 36 months with an accelerated expiry at a $1.00 VWAP trigger. Escrow funds return to purchasers if conditions are not met within 90 days. Company may increase the placement by 50%.
Sun Peak Metals (OTCQB:SUNPF) ha annunciato un collocamento privato non intermediato fino a 14.285.714 certificati di sottoscrizione a $0,35 per certificato per un importo lordo aggregato fino a $5,0 milioni per finanziare lo sviluppo delle proprietà, il capitale circolante e gli scopi aziendali generali in relazione a una prevista fusione/operazione aziendale con Saudi Discovery Company SPV Limited.
Ogni certificato si convertirà in una unità (un'azione + 1/2 warrant) al soddisfacimento delle condizioni di rilascio del deposito; i warrant si convertiranno in warrant Sun Peak exercitabili a $0,50 per 36 mesi con una scadenza accelerata al trigger VWAP di $1,00. I fondi in deposito verranno restituiti agli acquirenti se le condizioni non saranno soddisfatte entro 90 giorni. La società può aumentare il collocamento del 50%.
Sun Peak Metals (OTCQB:SUNPF) anunció una colocación privada no intermediada de hasta 14.285.714 recibos de suscripción a $0,35 por recibo para ingresos brutos agregados de hasta $5,0 millones para financiar el avance de propiedades, capital de trabajo y fines corporativos generales en relación con una futura operación de combinación empresarial con Saudi Discovery Company SPV Limited.
Cada recibo se convertirá en una unidad (una acción + 1/2 warrant) al cumplirse las condiciones de liberación de la custodia; los warrants se convertirán en warrants de Sun Peak exerciables a $0,50 por 36 meses con una expiración acelerada al disparador VWAP de $1,00. Los fondos en custodia se devolverán a los compradores si no se cumplen las condiciones dentro de 90 días. La empresa puede aumentar la colocación en 50%.
Sun Peak Metals (OTCQB:SUNPF)는 중개인 없이 비공개 배정으로 최대 14,285,714 구독 영수증을 $0.35에 발행하여 총 $5.0 백만의 총수익을 확보하고 재산 개발, 운전자본 및 일반 기업 목적을 위해 사우디 디스커버리 컴퍼니 SPV Limited와의 예정된 기업 결합과 관련하여 자금을 조달합니다.
각 영수증은 에스크로 해제 조건이 충족되면 1주당 1유닛(주식 1주 + 워런트 1/2)으로 전환되며, 워런트는 $0.50에 36개월 동안 행사 가능하고 $1.00의 VWAP 트리거로 가속 만료됩니다. 에스크로 자금은 조건이 90일 이내 충족되지 않으면 구매자에게 반환됩니다. 회사는 배정 규모를 50%까지 늘릴 수 있습니다.
Sun Peak Metals (OTCQB:SUNPF) a annoncé un placement privé non assorti par des intermédiaires jusqu'à 14 285 714 reçus de souscription à $0,35 par reçu pour un produit brut total pouvant atteindre $5,0 millions afin de financer l'avancement des propriétés, le fonds de roulement et les finalités générales de l'entreprise dans le cadre d'une opération de fusion prévue avec Saudi Discovery Company SPV Limited.
Chaque reçu se convertira en une unité (une action + 1/2 warrant) une fois les conditions de libération de l'entiercement remplies; les warrants se convertiront en warrants Sun Peak exerçables à $0,50 pendant 36 mois avec une expiration accélérée à un déclencheur VWAP de $1,00. Les fonds déposés seront retournés aux acheteurs si les conditions ne sont pas remplies dans 90 jours. La société peut augmenter le placement de 50%.
Sun Peak Metals (OTCQB:SUNPF) kündigte eine nicht börsengebundene Privatplatzierung von bis zu 14.285.714 Abonnementsbelegen zu je $0,35 pro Beleg an, was Bruttoerlöse von bis zu $5,0 Millionen ergibt, um die Vermögensentwicklung, das Betriebskapital und allgemeine Unternehmenszwecke im Zusammenhang mit einer geplanten Unternehmenszusammenführung mit Saudi Discovery Company SPV Limited zu finanzieren.
Jeder Beleg wandelt sich bei Erfüllung der Treuhandfreigabebedingungen in eine Einheit um (eine Aktie + 1/2 Warrants); Warrants wandeln sich in Sun Peak Warrants mit Ausübungspreis $0,50 für 36 Monate um, mit einer beschleunigten Ablauf bei einem VWAP-Trigger von $1,00. Treuhandmittel werden an die Käufer zurückgegeben, wenn die Bedingungen nicht innerhalb von 90 Tagen erfüllt werden. Das Unternehmen kann den Platzierungsumfang um 50% erhöhen.
Sun Peak Metals (OTCQB:SUNPF) أعلن عن طرح خاص غير وسيط حتى 14,285,714 إيصالات الاشتراك بسعر $0.35 للإيصال الواحد للحصول على عائدات إجمالية قدرها حتى $5.0 مليون لتمويل تقدم الملكية ورأس المال العامل والأغراض العامة للشركة فيما يتعلق بصفقة اندماج تجاري مخطط لها مع Saudi Discovery Company SPV Limited.
سيتم تحويل كل إيصال إلى وحدة واحدة (سهم واحد + 1/2 وارنـت) عند استيفاء شروط الإفراج عن الحفظ؛ تتحول الفوارن إلى وارنـت Sun Peak قابلة للممارسة بسعر $0.50 لمدة 36 شهراً مع انتهاء أسرع عند تفعيل VWAP بقيمة $1.00. سيتم إعادة أموال الحفظ إلى المشترين إذا لم يتم استيفاء الشروط خلال 90 يوماً. يمكن للشركة زيادة حجم الطرح بـ 50%.
Sun Peak Metals (OTCQB:SUNPF) 宣布不经经纪人私募配售，最多可达 14,285,714份认购凭证，每份价格为 $0.35，总毛额募集资金最高为 $5.0 million，用于资助物业开发、营运资金及一般公司用途，关联于与 Saudi Discovery Company SPV Limited 的计划商业合并。
每份认购凭证在托管释放条件满足时将转换为一份单位（1股+1/2认股权证）；认股权证将转换为 Sun Peak 的可执行认股权证，执行价格为 $0.50，有效期为 36 个月，在 VWAP 达到 $1.00 时加速到期。若条件在 90 天内未满足，托管资金将退还给购买者。公司可能将配售规模扩大 50%。
- Gross proceeds up to $5.0M
- Each Unit includes a 0.5 warrant exercisable at $0.50 for 36 months
- Issuer may increase the Offering by 50%
- Escrow structure returns funds if transaction conditions fail
- Up to 14,285,714 subscription receipts could create dilution upon conversion
- Warrants exercisable at $0.50 may dilute shareholders if exercised
- Escrow release contingent on approvals and transaction conditions within 90 days
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / October 16, 2025 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) ("Sun Peak" or the "Company") is pleased to announce a non-brokered private placement of up to 14,285,714 subscription receipts (the "Subscription Receipts") of a wholly owned subsidiary of the Company ("FinCo") at a price of
The net proceeds of the Offering are expected to be used for advancement of its properties and for working capital and general corporate purposes.
Subscription Receipt Terms
The Subscription Receipts will be governed by the terms of a subscription receipt agreement (the "Subscription Receipt Agreement") to be entered into between FinCo and a subscription receipt agent. Each Subscription Receipt will be automatically exchanged upon the satisfaction of Escrow Release Conditions (as defined below), without any further action by the holder of such Subscription Receipt and for no additional consideration, for one unit of FinCo (a "Unit"). Each Unit shall consist of one (1) common share of FinCo ("FinCo Share") and one-half (1/2) of one warrant of FinCo (each whole warrant, a "FinCo Warrant").
Following closing of the Offering, FinCo is expected to amalgamate with another wholly owned subsidiary of the Company, with FinCo surviving as a wholly owned subsidiary of Sun Peak. Upon completion of the Transaction, FinCo and the resulting issuer of the Transaction are expected to amalgamate under the name "Sun Peak Metals Corp.", and each FinCo Share will be exchanged for one common share of Sun Peak ("Sun Peak Share") and each FinCo Warrant will be exchanged for one warrant of Sun Peak ("Sun Peak Warrant"), exercisable to acquire one Sun Peak Share at an exercise price of
Escrow and Escrow Release Conditions
The gross proceeds of the Offering, net of certain expenses as set out in the Subscription Receipt Agreement, will be placed in escrow and held by the subscription receipt agent pending satisfaction of the Escrow Release Conditions, which are expected to include, among other things: (i) completion, satisfaction or waiver of all conditions precedent to the Transaction in accordance with its terms; and (ii) receipt of all required shareholder and regulatory approvals, as applicable. Upon satisfaction of the Escrow Release Conditions, the escrowed funds (less any applicable costs as provided in the Subscription Receipt Agreement) will be released to FinCo and the Subscription Receipts will be automatically converted into Units.
If (i) the Escrow Release Conditions are not satisfied by 5:00 p.m. (Toronto time) on the date that is 90 days following the closing of the Offering, or (ii) the Company announces that the Transaction will not proceed, then the Subscription Receipts will be cancelled and the escrowed funds, together with any interest earned thereon, will be returned to the holders of the Subscription Receipts. To the extent that the escrowed funds are insufficient to return to holders an amount equal to the original purchase price of the Subscription Receipts, the Company will be responsible for any shortfall.
The Offering is subject to customary closing conditions. The Company may pay finder's fees in connection with the Offering, in accordance with applicable securities laws and the policies of the TSXV, if applicable. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction.
ABOUT SAUDI DISCOVERY COMPANY
Saudi Discovery Company is a pioneering exploration company advancing high-potential mineral projects in Saudi Arabia, aligned with Vision 2030.
ABOUT SUN PEAK METALS CORP.
Sun Peak is advancing the district-scale Shire VMS Project in the Tigray Region of northern Ethiopia. The project covers six exploration licenses totaling approximately 1,450 square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha Mine and the Asmara Projects in Eritrea.
ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.
Greg Davis,
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution to US Investors
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 absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. 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. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S Securities Act.
Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, the terms, timing and completion of the Offering and the Transaction; the anticipated use of proceeds; the satisfaction of the Escrow Release Conditions; the timing and mechanics of converting the Subscription Receipts into Units and the subsequent exchange of FinCo securities for Sun Peak securities; the payment of any finder's fees; and the receipt of all necessary approvals. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: including the risk that the Offering or the Transaction is delayed or not completed on the terms described herein or at all; the risk that required approvals are not obtained; and market conditions. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Prospectus filed with Canadian security regulators.
SOURCE: Sun Peak Metals Corp.
View the original press release on ACCESS Newswire
FAQ
What is the size and price of Sun Peak Metals' private placement (SUNPF) announced October 16, 2025?
How do the subscription receipts for SUNPF convert into shares and warrants?
What are the Sun Peak warrant terms (SUNPF) from the October 16, 2025 offering?
What happens to escrowed funds if the Sun Peak transaction does not close within 90 days?
Can Sun Peak (SUNPF) increase the private placement size?
