Toronto, Ontario–(Newsfile Corp. – February 2, 2026) – Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (“Mogotes”, or the “Company”) is pleased to announce that, further to its press releases of January 5, 2026 and January 6, 2026, it has successfully completed: (i) a non-brokered private placement of 86,792,425 Units at a price of $0.265 per Unit; and (ii) a non-brokered private placement of 12,500,000 units (each, a “Unit”) at a price of $0.32 per Unit for aggregate gross proceeds of C$26,999,992.63 (the “Offering”).
Each Unit is comprised of one common share (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of $0.53 per Common Share for a period of three (3) years from the closing of the Offering. The gross proceeds from the sale of the Units will be used for general corporate and working capital purposes.
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