Defense Metals Corp. announced a non-brokered private placement of 2,557,795 common shares at a price of CAD 0.26 per share for aggregate gross proceeds of CAD 665,026.70 on January 17, 2024. The company may issue up to an additional 283,883 common shares for additional gross proceeds of up to CAD 73,809.58 to RCF Opportunities Fund II L.P. The transaction will be completed promptly following TSX Venture Exchange approval.

In addition to the statutory hold period of four months and one day, the common shares issued under the offering will be subject to a two-year voluntary hold period from the date of issuance.