EraNova Metals plans $880,000 private placement for 2027 drill program

EraNova Metals Inc. (TSXV: NOVA) (OTCQB: STXPF) announced a non-brokered private placement of up to 6,769,231 units at $0.13 per unit, targeting gross proceeds of up to $880,000, according to a company statement.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to acquire one additional common share at $0.25 for three years following issuance.

The company said proceeds will be directed toward expanding its corporate profile in international markets, strengthening its technical team, advancing exploration target definition, and preparing for a planned summer 2027 drill program at its Ruby Creek Property in British Columbia. A portion will also support general working capital.

Certain directors, officers, or insiders are expected to participate in the placement, which the company characterized as a related party transaction under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements, as the transaction value is not expected to exceed 25% of the company's market capitalization.

The placement is subject to regulatory approval, including from the TSX Venture Exchange. Securities issued will carry a four-month and one-day statutory hold period. No finders' fees will be paid.

The company also announced the appointment of Yana Silina, its current Chief Financial Officer, as Corporate Secretary effective October 31, 2026, replacing Marion McGrath. Silina will retain her CFO responsibilities alongside the new role.

EraNova's Ruby Creek Property covers 29,700 hectares near Atlin, BC, and hosts the Adanac Molybdenum Project and the Atlin Discovery Project.

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