Aztec Minerals upsizes bought-deal placement to $5.6 million

Canada NewsWire

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VANCOUVER, BC , Sept. 3, 2026 /CNW/ -- Aztec Minerals Corp. (TSX-V: AZT) (OTCQB: AZZTF) (" Aztec " or the " Company ") is pleased to announce that due to investor demand, it has entered into an amended agreement with Stifel Canada to act as the sole underwriter and bookrunner (the " Underwriter "), to increase the size of its previously announced "bought deal" private placement offering, pursuant to which the Underwriter has agreed to purchase on a bought deal basis, 17,400,000 units of the Company (the " Units ") at a price of C$0.32 per Unit (the " Issue Price ") for gross proceeds to the Company of C$5,568,000 (the " Offering ").

Each Unit shall be comprised of one common share of the Company (each a " Common Share ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.42 for a period of 24 months following the Closing Date (as hereinafter defined).

The Company has granted to the Underwriter an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 15% of Units to be sold under the Offering at the Issue Price for additional gross proceeds of up to approximately C$835,200.

The Company intends to use the net proceeds to conduct exploration work on its Tombstone gold-silver & CRD silver-lead-zinc-copper-gold project in Arizona, USA, and its Cervantes gold-copper project in Sonora, Mexico, as well as for general working capital purposes.

The Offering is expected to close on or about September 22, 2026 (the " Closing Date ") and is subject to the Company receiving all necessary regulatory approvals, including the conditional approval from the TSX Venture Exchange.

The Company shall pay the Underwriter a cash fee equal to 6% of the gross proceeds of the Offering (inclusive of any Units purchased in connection with the exercise of the Underwriter's Option) (the " Commission "). In addition, on the Closing Date, the Company shall issue to the Underwriter warrants of the Company (the " Broker Warrants "), in such manner as directed by the Underwriter, equal to 6% of the number of Units sold under the Offering (inclusive of any Units purchased in connection with the exercise of the Underwriter's Option). Each Broker Warrant shall entitle the holder to acquire one common share in the capital of the Company (a " Broker Warrant Share ") at an exercise price equal to the Issue Price per Broker Warrant Share for a period of 24 months following the Closing Date.

The Units will be offered for sale to purchasers resident in Canada, pursuant to available prospectus exemptions under National Instrument 45-106 - Prospectus Exemptions or applicable law in Canada, and may be offered outside of Canada provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction and the Company does not thereafter become subject to continuous disclosure obligations in such jurisdictions. The Units issued pursuant to the Offering will be subject to a hold period of four months and a day under applicable Canadian securities laws.