Abitibi Metals Secures Up to C$30.75 Million in Strategic Financing Led by Discovery Silver
Vancouver, British Columbia, Canada, April 27th, 2026, FinanceWire
Discovery Silver Expected to Take a 9.9% Strategic Stake as Abitibi Strengthens Its Balance Sheet to Advance B26
Abitibi Metals Corp. (CSE:AMQ) (OTCQB:AMQFF), a Québec-focused mineral exploration company advancing the B26 polymetallic deposit, has announced a non-brokered financing of up to C$30.75 million that is expected to bring in Discovery Silver Corp. as a new strategic shareholder.
If the offering closes as planned, Discovery is expected to acquire approximately 9.9% of Abitibi’s issued and outstanding common shares on a non-diluted basis, giving Abitibi not only a major new source of capital, but also a strategic investor with sector experience as the company continues advancing B26 and evaluating broader growth opportunities.
In connection with the closing, Abitibi and Discovery are also expected to enter into a participation agreement that, subject to certain conditions, would grant Discovery certain financing participation rights and other customary investor rights, allowing it to maintain its ownership position over time.
Abitibi President and Chief Executive Officer Jonathon Deluce described the investment as a strong endorsement of the progress and potential of the B26 Deposit. He also pointed to Discovery’s track record of generating shareholder returns through disciplined exploration, operational execution, and early identification of high-quality opportunities.
According to Deluce, that technical and industry experience could be valuable as Abitibi continues to advance exploration and development at B26 while also pursuing growth across its existing portfolio and through potential acquisitions.
Financing Structure and Use of Proceeds
The offering is expected to include 11,764,706 charity flow-through common shares priced at C$0.85 per share and 35,779,704 hard dollar common shares priced at C$0.58 per share, for total aggregate gross proceeds of up to C$30,752,228.
Abitibi said the gross proceeds from the charity flow-through portion are expected to be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures on the company’s Québec-based projects. The net proceeds from the hard dollar portion are expected to be used for exploration and development activities, as well as general corporate purposes.
That gives the financing a dual purpose. It is expected to support continued work on the ground in Québec while also strengthening the company’s broader capital position as it moves into its next stage of growth.
A New Strategic Relationship at an Important Time
Strategic financings can often matter as much for who is participating as for the amount being raised. In this case, Discovery Silver’s expected 9.9% position stands out as one of the most notable aspects of the transaction, adding a new industry-aligned shareholder as Abitibi continues to build around B26.
The financing remains subject to customary conditions, including receipt of all necessary regulatory approvals and completion of the company’s filing requirements with the Canadian Securities Exchange. All securities issued under the offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
If completed as outlined, the transaction would leave Abitibi Metals with fresh capital for exploration and development and a new strategic partner on its shareholder registry as it continues advancing one of its key Québec assets.
ON BEHALF OF THE BOARD
Jonathon Deluce, Chief Executive Officer
For more information, please call 226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter: https://twitter.com/AbitibiMetals
LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statement:
This news release contains certain statements, which may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to the closing of the Offering, future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company’s behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi’s forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “estimates,” “anticipates,” or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results “may,” “could,” “might” or “occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
Not for distribution to U.S. news wire services or dissemination in the United States
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6) This document contains forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Abitibi Metals Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Abitibi Metals Corp.’s industry; (b) market opportunity; (c) Abitibi Metals Corp.’s business plans and strategies; (d) services that Abitibi Metals Corp. intends to offer; (e) Abitibi Metals Corp.’s milestone projections and targets; (f) Abitibi Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Abitibi Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Abitibi Metals Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Abitibi Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Abitibi Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Abitibi Metals Corp.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Abitibi Metals Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Abitibi Metals Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Abitibi Metals Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Abitibi Metals Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Abitibi Metals Corp.’s business operations (e) Abitibi Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Abitibi Metals Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Abitibi Metals Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Abitibi Metals Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
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8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by Louis Gariépy, P.Eng (OIQ #107538), VP Exploration of Abitibi Metals as the Qualified Person for the Company as defined in National Instrument 43-101.
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Contact
Chief Executive OfficerJonathon Deluce
Abitibi Metals Corp.
info@abitibimetals.com
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