Vancouver, British Columbia – TheNewswire - January 28, 2026 – Karus Mining Inc. (“Karus” or the “Company”) is pleased to announce that it has closed its private placement offering of 8,886,604 units (the “Units”), at an offering price of $0.85 per Unit, for aggregate gross proceeds of $7,553,613.50 (the “Offering”), including partial exercise by Stifel Canada of its over-allotment option in connection with the Offering. Each Unit is comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at an exercise price of $1.15 for a period of 24 months following the date of issue.
Stifel Canada acted as sole agent and bookrunner in connection with the Offering.
The Company intends to use the net proceeds of the Offering to conduct exploration work on its South Cariboo and Mineral Creek projects in British Columbia, as well as for general working capital purposes.
As consideration for its services, Stifel Canada received a cash commission equal to 7% of the gross proceeds of the Offering, and also received broker warrants (the “Broker Warrants”) in an amount equal to 7% of the number of Units Issued. Each Broker Warrant will entitle Stifel Canada to purchase one Common Share at an exercise price of $0.85 for a period of 24 months from the date of issue.
No U.S. Offering or Registration
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
On behalf of the Board,
Jason Bahnsen
Chief Executive Officer
About Karus
Karus is the 100% owner of the 1,000 km2 South Cariboo Gold District of British Columbia that includes the drill-stage Fraser Gold and Gold Creek projects in British Columbia, and also controls the high-grade Mineral Creek gold exploration project, which is centred 12 kilometers southeast of Port Alberni, on Vancouver Island, British Columbia.
Cautionary Statement on Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The information in this news release about the future plans of Karus and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms of such transaction. Factors that could cause actual results to differ materially from those described in such forward-looking information include risks.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of Karus based on information currently available to Karus. In connection with the forward-looking information contained in this news release, Karus has made assumptions about Karus’ ability to complete the planned transaction and activities. Karus has also assumed that no significant events will occur outside of Karus’ normal course of business. Although Karus believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Specifically, there is no assurance that Karus use the net proceeds from the Offering in the manner outlined above.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Karus disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
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