Patriot Battery Metals Inc. announced a private placement of 5,160,000 charity flow-through common shares at a price of CAD 14.54 per share for the gross proceeds of CAD 75,026,400 on May 21, 2024. The closing of the Flow-Through Offering is subject to certain conditions including, but not limited to approval of the TSX and receipt of all required regulatory and other approvals. Shareholder approval is not required to complete the Flow-Through Offering.

The shares will be subject to a four month statutory hold period. The transaction included participation from from existing and new institutional, professional and sophisticated investors. Existing substantial investors also maintained their pro-rata in the placement, which included committing to a four month hold on its new securities.