Mogotes Metals Closes $19.2 Million Financing as CD Capital Lifts Stake to 19.9%

Mogotes Metals Inc. announced on August 13, 2026, that it closed its previously disclosed rights offering, issuing 39,186,369 common shares at a price of $0.49 per share for aggregate gross proceeds of $19,201,320.81. The offering completes CD Capital Fund IV L.P.'s exercise of its right to increase its ownership interest in the company to 19.9% on a partially diluted basis, following pre-emptive rights agreements with various shareholders.

Company Overview

Mogotes Metals Inc. (TSXV: MOG | FSE: OY4 | OTCQB: MOGMF) is a mineral exploration company focused on copper, gold and silver in Argentina and Chile's Vicuña district. Its principal asset, the Filo Sur project, adjoins Lundin Mining's Filo del Sol deposit and lies along the same north-south trending belt as the Filo del Sol-Aurora deposits and NGEx Minerals' Lunahuasi and Los Helados copper and gold projects.

Offering Details

Further to its press releases of July 14, 2026, July 21, 2026 and August 12, 2026, Mogotes Metals has issued an aggregate of 39,186,369 common shares at $0.49 per share for aggregate gross proceeds of $19,201,320.81, in connection with CD Capital Fund IV L.P.'s exercise of its right to subscribe for common shares and increase its ownership interest in the company to 19.9% on a partially diluted basis, pursuant to pre-emptive rights agreements with various shareholders. The shares issued are subject to a 4-month-plus-1-day hold period from the date of issuance, along with the resale rules of applicable securities legislation. Closing remains subject to certain conditions, including receipt of all necessary regulatory approvals, among them approval from the TSX Venture Exchange.

Insiders of the company purchased an aggregate of 36,689,414 of the common shares issued, bringing the transaction within the scope of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (MI 61-101). Mogotes Metals is relying on exemptions from the valuation and minority shareholder approval requirements contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, on the basis that the company is not listed on a specified market and the fair market value of the insider participation does not exceed 25% of the company's market capitalization. The company did not file a material change report at least 21 days before closing, which it deemed reasonable in the circumstances to complete the offering expeditiously.

Next Steps

Gross proceeds from the offering will be used for general corporate and working capital purposes. Closing remains conditional on receipt of all outstanding regulatory and other approvals.