Pivotal Metals secures $3.0m funding for Quebec projects

Pivotal Metals Limited (ASX:PVT) has successfully secured firm commitments to raise $3.0 million to significantly advance its 100% owned Horden Lake and BAGB copper projects in Quebec, Canada. The funding includes a combination of a Flow-Through Shares (FTS) placement under the Income Tax (Canada) and a placement of fully paid ordinary shares pursuant to s708(8) of the Corporations Act (Cth) 2001.

Executive Commentary on Funding and Project Advancement

We are extremely pleased to successfully execute this financing, where we were able to issue more than half the shares at a significant premium by accessing the flow through share scheme. Quebec critical minerals FTS incentives are the most generous in Canada; and it's an incentive scheme which is unparalleled globally. The premium share issuance carries the benefits of Canadian tax credits that bring 90% leverage on committed exploration focused funding, without dilution or overhang risk. Put another way, effectively the Canadian government is providing up-front payment for almost half of our exploration cost - it simply doesn't get better than that. The proceeds from the capital raising further strengthen the Company's balance sheet and allow us to expand the work program in Canada, in particular at Horden Lake where we will deliver metallurgical testwork, upgraded resources and continue exploration of this exciting deposit which we've shown has tremendous potential to continue to grow, and contribute considerable value to Pivotal Metals.

Summary of Pivotal Metals' Funding and Project Advancement

Pivotal Metals Limited (ASX:PVT) has successfully secured $3.0 million in funding to advance its Horden Lake and BAGB copper projects in Quebec, Canada. The funding includes a combination of a Flow-Through Shares (FTS) placement under the Income Tax (Canada) and a placement of fully paid ordinary shares. The company's Managing Director, Ivan Fairhall, expressed extreme satisfaction with the financing, highlighting the benefits of accessing the flow through share scheme and the unparalleled incentive scheme offered by Quebec. The capital raised will further strengthen the Company's balance sheet and enable the expansion of the work program in Canada, particularly at Horden Lake. Pivotal aims to deliver metallurgical testwork, upgraded resources, and continue exploration of the deposit, demonstrating its potential for growth and substantial value contribution to Pivotal Metals.