Magna Mining Secures $45 Million Equity Financing for Sudbury Operations

• $45 million offering of 18.75 million common shares at $2.40 per share, with $5 million over-allotment option
• Lead underwriter Canaccord Genuity with co-agents Desjardins Securities and SCP Resource Finance
• LIFE exemption eliminates hold period for Canadian investors outside Quebec
• Proceeds allocation for Sudbury property advancement and working capital
• Closing date expected September 19, 2025, pending regulatory approvals

Magna Mining Inc. (TSXV: NICU) is a producing mining company with copper, nickel, and platinum group metals assets in the Sudbury mining district of Ontario, Canada. The company's primary asset is the McCreedy West Mine, currently in production.

The company's property portfolio includes Levack, Crean Hill, Podolsky, and Shakespeare, which are described as past-producing properties. The company states it is positioned to create shareholder value through continued production, exploration, and development opportunities.

LIFE Exemption Equity Offering Structure

The offering utilises Canada's Listed Issuer Financing Exemption under National Instrument 45-106, allowing sales in Canadian provinces and territories except Quebec. Securities issued under this exemption are not expected to be subject to hold periods in Canada under applicable securities legislation.

The shares may also be offered in the United States through private placement exemptions under the Securities Act of 1933. Additional jurisdictions outside Canada and the United States may be included subject to mutual agreement between the company and agents.

Syndicated Agent Structure and Commission Terms

Canaccord Genuity Corp. acts as lead agent and sole bookrunner, with Desjardins Securities Inc. and SCP Resource Finance LP serving as co-lead agents. The arrangement is structured as a best efforts private placement.

The commission structure provides for 5.0% of gross proceeds, reduced to 1.5% for certain sales to purchasers on a president's list up to $15 million maximum. This tiered commission structure applies to sales made through existing company relationships.

The agents have an over-allotment option to sell up to 2.08 million additional shares for proceeds up to $5 million. This option is exercisable up to 48 hours prior to closing.

Next Steps

The offering is expected to close on September 19, 2025, subject to conditions including regulatory approvals from the TSX Venture Exchange. The company has entered into the agreement with agents but completion depends on satisfying standard closing conditions.

Regulatory approval from the TSX Venture Exchange remains a requirement for closing. The company will proceed with standard due diligence and marketing processes as part of the offering completion timeline.