Prospector Metals Corp. announced a non-brokered private placement to raise gross proceeds of up to CAD 27,658,351 through the issuance of 5,500,000 flow-through common shares (the FT shares) at a price of CAD 1.00 per FT share and 22,843,661 non-flow-through common shares (the NFT shares) at a price of CAD 0.97 per NFT share on November 7, 2025. In connection with the offering of the NFT shares, Alpayana SAC has agreed to subscribe for an aggregate of 14,631,283 NFT shares.
Upon completion of the offering, Alpayana will have aggregate beneficial ownership and control over approximately 9.9 per cent of the issued and outstanding common shares of the company. In addition: the company's largest shareholder, B2Gold Corp., has agreed to exercise an aggregate of 2,133,636 outstanding warrants and subscribe for an additional 7,181,451 NFT shares, in addition to its previously announced subscription for 10,309,278 common shares, bringing its strategic investment in the company on closing of the offering to 29,410,357 common shares representing 19.9 per cent of the issued and outstanding shares of the company; and 2) an investment group led by John Robins of Discovery Capital has agreed to subscribe for 6.5 million total shares. There are no finders' fees or commissions payable in connection with the offering.
The offering is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange. The securities issued under the offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the offering.
