PTX Metals Inc. Announces Increase In Size Of Its Private Placement

April 27, 2026 2:20 PM EDT | Source: PTX Metals Inc.

Toronto, Ontario--(Newsfile Corp. - April 27, 2026) - PTX Metals Inc. (TSXV: PTX) (" PTX " or the " Company ") is pleased to announce that it has increased the size of its previously announced non-brokered private placement of flow-through shares from up to $3,750,000 to up to $4,750,000. The size of the offering of units remains unchanged at up to $2,000,000. The Company anticipates completing the offering by the end of the month.

As set forth in its press release dated April 6, 2026, the Company offering flow-through common shares (" FT Shares ") at a price of $0.125 per FT Share and units of the Company (the " Units ") at a price of $0.11 per Unit. Each Unit will consist of one (1) common share of the Company (a " Common Share ") and one-half of one (1/2) common share purchase warrant (each whole such share purchase warrant, a " Warrant "). Each Warrant is exercisable to acquire one (1) additional Common Share (each, a " Warrant Share ") at a price of $0.18 for a period of 36 months from the date of issuance. No fractional Warrant Shares will be issued, and no cash or other consideration will be paid in lieu of fractional shares. The Warrants will be subject to an acceleration provision, whereby the Company may accelerate the expiry date of the Warrants if the closing price of the Company's Common Shares on the TSX Venture Exchange (the " TSXV ") is at or above $0.40 for more than twenty (20) consecutive trading days, in accordance with the terms of the Warrants.

The Company intends to use the proceeds from the issuance of the Units for general corporate expenses and working capital purposes and to use the gross proceeds from the issuance of the FT Shares to incur eligible "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the " Tax Act ") that qualify as "flow-through critical mineral mining expenditures" as defined in subsection 127(9) of the Tax Act (the " Qualifying Expenditures ") related to the Company's projects in Ontario. The Qualifying Expenditures will be incurred on or before December 31, 2027 and will be renounced by the Company to the purchasers with an effective date no later than December 31, 2026 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

Unless issued pursuant to a prospectus exemption that does not require a statutory hold period, the Units and FT Shares offered and sold pursuant to the offerings will be subject to a statutory hold period in Canada of four (4) months and one (1) day after the closing date.

Additional Information

The closing of the offerings may occur in multiple tranches. The closings of the offerings are subject to certain conditions, including applicable regulatory approvals and acceptance by the TSXV. The Company does not anticipate increasing the size of the offerings further.

Insiders of the Company may participate in the offerings. The issuance of Units or FT Shares to insiders will be considered "related party transactions" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company intends to rely on the exemption set forth in section 5.5(a) of MI 61-101 from the formal valuation requirements of MI 61-101 and the exemption set forth in section 5.7(1)(a) of MI 61-101 from minority shareholder approval requirements of MI 61-101 in respect of such insider participation as the fair market value of the offerings, insofar as it involves interested parties, is not expected to exceed 25% of the Company's market capitalization.

In connection with the offerings (as permitted by the policies of the TSXV), eligible finders may be paid a cash amount equal to 7% of the gross amount raised by finders. In addition, a number of finders warrants equal to 7% of the number of Units and FT Shares issued pursuant to the offerings (the " Finders Warrants ") may be issued to eligible finders. Each Finders Warrant will entitle the holder thereof to purchase one common share at a price of $0.125 (subject to adjustment) for a period of two (2) years following the issuance of the Finders Warrants. The Finders Warrants will be subject to a statutory hold period in Canada of four (4) months and one (1) day after the issuance of the Finders Warrants.

About PTX Metals Inc.

PTX is a proudly Canadian mineral exploration company advancing gold and critical minerals projects in Northern Ontario, including its W2 copper-nickel-PGE project in the Ring of Fire and the Shining Tree Gold Project in the Timmins Gold Camp. PTX offers shareholders exposure to copper, gold, nickel, and platinum group element (PGE) discoveries. The province of Ontario is a mining jurisdiction renowned for both its abundance of critical minerals and stable regulatory environment.

Our corporate objective is to advance our assets, unlocking the full potential of two flagship projects, the W2 Cu-Ni-PGE located close to existing winter road infrastructure at the gateway to the strategic Ring of Fire region, and the Shining Tree Gold Project, neighboring other known deposits in the Timmins Gold Camp.

PTX's portfolio of assets was strategically acquired for their geologically favorable attributes and proximity to established mining companies.

PTX is based in Toronto, Canada, with a primary listing on the TSX Venture Exchange under the symbol PTX. The Company is also listed in Frankfurt under the symbol 9PX.F and on the OTCQB in the United States as PANXF.

For additional information on PTX, please visit the Company's website at .

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