Arras Minerals closes $25 million bought-deal financing

Canada NewsWire /NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TSX-V: ARK / OTCQB: ARRKF VANCOUVER, BC , July 7, 2026 /CNW/ - Arras Minerals Corp. (TSXV: ARK) (OTCQB: ARRKF) ("Arras" or the "Company") is pleased to announce that it has closed its previously announced bought deal financing of 18,382,175 common shares of the Company (the " Common Shares ") at a price of $1.36 per Common Share for aggregate gross proceeds to the Company of approximately $25 million (the " Offering "), which includes the full exercise of the underwriters' option. The Offering was completed through a syndicate of underwriters led by Haywood Securities Inc. and including SCP Resource Finance LP, Canaccord Genuity Corp. and Hannam & Partners (the " Underwriters "). The Company intends to use the net proceeds of the Offering to fund exploration and development activities at the Company's properties in Kazakhstan, as well as for working capital and general corporate purposes, all as described in the Company's amended and restated offering document dated June 16, 2026.

The Common Shares issued under the Offering were offered to purchasers' resident in all the provinces of 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 Listed Issuer Financing Exemption (the " Listed Issuer Financing Exemption "). The Common Shares issued under the Listed Issuer Financing Exemption are not subject to a statutory hold period pursuant to applicable Canadian securities laws, however Common Shares issued to insiders under the Offering may be subject to a 4-month resale restriction imposed under the policies of the TSX Venture Exchange (the " TSXV "). In connection with the Offering, the Underwriters received an aggregate cash commission equal to 6.0% of the gross proceeds from the sale of the Common Shares.

The securities offered pursuant to the Offering have not been, nor will they be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any applicable securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from such registration requirements. This release does not constitute an offer for sale or the solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, a U.S. person. "U.S. person" and "United States" are as defined in Regulation S under the U.S. Securities Act.

Certain insiders of the Company participated in the Offering, acquiring an aggregate of 2,750,000 Common Shares. The issuance of Common Shares to such insiders is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Offering nor the securities issued in connection therewith, in so far as the Offering involves the insiders, exceeds 25% of the Company's market capitalization.