Business · Companies · 4 hrs ago
Hercules Metals Announces $30 Million Share Placement
Hercules Metals agreed to sell 34.5 million common shares in a private placement.
The Toronto-based company is listed on the TSX Venture Exchange under the symbol BIG and on the OTCQB as BADEF.
Underwriters have agreed to buy the shares at $0.87 each under a bought-deal arrangement.
That means the underwriters have committed to purchase the shares, rather than merely helping the company market them.
The planned sale would raise about $30 million in gross proceeds for Hercules Metals.
The announcement does not say how the company will use the money or when the placement will close.
The underwriters can buy up to 5.2 million more shares at the same price, for up to about $4.5 million in additional gross proceeds.
Hercules Metals Corp. agreed to sell 34.5 million common shares in a bought-deal private placement for gross proceeds of $30.015 million.
The shares are priced at $0.87 each.
Canaccord Genuity Corp. and BMO Capital Markets are joint bookrunners for a syndicate of underwriters.
The company granted the underwriters an option to buy up to 5.2 million additional shares at the same price.
The announcement was issued on October 22, 2026.
- Who
- Hercules Metals Corp. and a syndicate of underwriters, with Canaccord Genuity Corp. and BMO Capital Markets as joint bookrunners.
- What
- Hercules agreed to a bought-deal private placement of 34.5 million common shares for gross proceeds of $30.015 million.
- When
- October 22, 2026.
- Where
- Not stated.
- Why
- Not stated.
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- Shares in offering
- 34,500,000 common shares
- Offering price
- $0.87 per share
- Gross proceeds
- $30,015,000
- Additional-share option
- Up to 5,200,000 shares
- Announcement date
- October 22, 2026