Fitzroy Minerals Closes Final Tranche of Private Placement, Raising $7 Million

VANCOUVER, BRITISH COLUMBIA — July 9, 2025 — NewsWall — Fitzroy Minerals Inc. (TSXV: FTZ, OTCQB: FTZFF) has completed the second and final tranche of its non-brokered listed issuer financing exemption (LIFE) private placement, raising approximately $7,000,000 through the issuance of 23,333,333 common shares at $0.30 per share.

The final tranche brings the total proceeds from the LIFE Offering to $12,000,000, with 40,000,000 shares issued at $0.30 each. Additionally, the company completed a concurrent non-brokered private placement of $540,000 through the issuance of 1,800,000 shares at $0.30 per share.

The company plans to allocate the proceeds to exploration activities and property commitments at the Buen Retiro and Caballos projects, as well as for general and administrative costs and working capital.

In connection with the final tranche, Fitzroy Minerals agreed to pay cash finder’s fees of $540,000.01 and issued 1,799,998 finder’s warrants. Clariden Capital Ltd., owned by J. Campbell Smyth, Chairman and a director of the Company, and Mary Gilzean, a director of the Company, participated in the private placement.

The LIFE Offering was conducted under Part 5A of National Instrument 45-106, and the securities issued are not subject to a hold period. All securities issued in connection with the concurrent offering are subject to a statutory hold period of four months and one day. The closing of the private placement remains subject to the final approval of the TSXV.

Merlin Marr-Johnson, President and CEO, mmj@fitzroyminerals.com, +44 7803 712280

Source: Fitzroy Minerals