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Generation Mining raises $240M to fund Marathon copper-palladium project

Mon, 21 Sep 2026 10:11:21 -0400

Generation Mining Limited (TSX: GENM, OTCQB: GENMF) has closed a bought-deal public offering and a concurrent private placement, raising aggregate gross proceeds of $240 million to fund development of its Marathon Copper-Palladium Project in Northwestern Ontario.

The public offering, led by BMO Capital Markets as sole bookrunner alongside a syndicate that included TD Securities, Haywood Securities, Stifel Canada and others, resulted in the issuance of 312,500,000 common shares at $0.64 per share for gross proceeds of $200 million. Underwriters received a cash commission of 5% of gross proceeds, reduced to 3% for certain investors on a president's list.

Canada Growth Fund Inc.

Generation Mining raises $240M to fund Marathon copper-palladium project

Mon, 21 Sep 2026 10:11:21 -0400

Canada Growth Fund Inc.

Generation Mining Closes “Bought Deal” Public Offering and Concurrent Private Placement for Gross Proceeds of $240 Million

Mon, 21 Sep 2026 10:11:00 -0400

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

OR DISSEMINATION IN THE UNITED STATES

TORONTO--(BUSINESS WIRE)-- Further to its news release dated September 14, 2026, Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (“Generation” or the “Company”) is pleased to announce the closing of its prospectus offering (the “Public Offering”) and concurrent private placement with Canada Growth Fund Inc. (“CGF”) (the “Concurrent Private Placement”) of common shares of the Company (the “Shares”) for aggregate gross proceeds of $240 million.

The Public Offering was completed on a “bought deal” basis pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”) dated

Generation Mining Closes “Bought Deal” Public Offering and Concurrent Private Placement for Gross Proceeds of $240 Million

Mon, 21 Sep 2026 10:11:00 -0400

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

OR DISSEMINATION IN THE UNITED STATES

The Public Offering was completed on a “bought deal” basis pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”) dated

Generation Mining Closes “Bought Deal” Public Offering and Concurrent Private Placement for Gross Proceeds of $240 Million

Mon, 21 Sep 2026 10:11:00 -0400

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

OR DISSEMINATION IN THE UNITED STATES

The Public Offering was completed on a “bought deal” basis pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”) dated

Generation Mining Closes “Bought Deal” Public Offering and Concurrent Private Placement for Gross Proceeds of $240 Million

Mon, 21 Sep 2026 10:11:00 -0400

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

OR DISSEMINATION IN THE UNITED STATES

The Public Offering was completed on a “bought deal” basis pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”) dated

Generation Mining Agrees to a Term Sheet with the Ontario Government for Funding to Support Construction of the Marathon Processing Facility

Fri, 18 Sep 2026 14:08:00 -0400

Support from Ontario’s Critical Minerals Processing Fund advances the Company’s 100%-owned Marathon Copper-Palladium Project in Northwestern Ontario

TORONTO--(BUSINESS WIRE)-- Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (“Generation Mining” or the “Company”) is pleased to announce that it has agreed to a non-binding term sheet with the Government of Ontario (the “Ontario Facility”) to support construction of the mineral processing facility at its 100%-owned Marathon Copper-Palladium Project (“Marathon Project”) in Northwestern Ontario.

The terms of the Ontario Facility provide for a loan of up to $11 million through Ontario’s Critical Minerals Processing Fund (“CMPF”) which is administered by Invest

Generation Mining Agrees to a Term Sheet with the Ontario Government for Funding to Support Construction of the Marathon Processing Facility

Fri, 18 Sep 2026 14:08:00 -0400

Support from Ontario’s Critical Minerals Processing Fund advances the Company’s 100%-owned Marathon Copper-Palladium Project in Northwestern Ontario

The terms of the Ontario Facility provide for a loan of up to $11 million through Ontario’s Critical Minerals Processing Fund (“CMPF”) which is administered by Invest

Generation Mining Agrees to a Term Sheet with the Ontario Government for Funding to Support Construction of the Marathon Processing Facility

Fri, 18 Sep 2026 14:08:00 -0400

Support from Ontario’s Critical Minerals Processing Fund advances the Company’s 100%-owned Marathon Copper-Palladium Project in Northwestern Ontario

The terms of the Ontario Facility provide for a loan of up to $11 million through Ontario’s Critical Minerals Processing Fund (“CMPF”) which is administered by Invest

Generation Mining Agrees to a Term Sheet with the Ontario Government for Funding to Support Construction of the Marathon Processing Facility

Fri, 18 Sep 2026 14:08:00 -0400

Support from Ontario’s Critical Minerals Processing Fund advances the Company’s 100%-owned Marathon Copper-Palladium Project in Northwestern Ontario

The terms of the Ontario Facility provide for a loan of up to $11 million through Ontario’s Critical Minerals Processing Fund (“CMPF”) which is administered by Invest

Generation Mining Reports First 30% of Marathon Capital Costs Bid at or Below Feasibility Study Estimates