VANCOUVER, British Columbia, June 15, 2026 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSXV:ARK, OTCQB:ARRKF) ("Arras" or the "Company") is pleased to announce that it has entered into an agreement with Haywood Securities Inc., on its behalf and on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 11,030,000 common shares of the Company (the "Common Shares") at a price of C$1.36 per Common Share (the "Issue Price"), for aggregate gross proceeds to the Company of C$15,000,800 (the "Underwritten Offering").
The Company shall have the right to designate subscribers to purchase up to 1,470,588 Common Shares at the Issue Price for up to C$2,000,000 (the "President's List") as part of the Underwritten Offering.
Additionally, the Company has granted the Underwriters an option, exercisable in whole or in part by the Underwriters at any time up to 48 hours prior to Closing (as defined below), to purchase up to an additional 1,654,500 Common Shares at the Issue Price for additional gross proceeds of up to C$2,250,120 (the "Underwriters' Option" and, together with the Underwritten Offering, the "Offering").
The net proceeds of the Offering will be used to fund exploration and development of the Company's properties in Kazakhstan and for working capital and general corporate purposes as described in the Offering Document (as defined below).
The Offering is expected to close on or about July 7, 2026, or such other date as may be agreed to by the Company and the Underwriters (the "Closing"). Closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange (the "TSXV"). Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers resident in Canada, except Québec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended and supplemented by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the ...
