Vancouver, British Columbia — January 15, 2026
Karus Mining Inc. is pleased to announce an upsize to its previously announced brokered private placement. The Company has increased the offering to 8,236,000 units at C$0.85 per unit for gross proceeds of up to C$7,000,600, through Stifel Nicolaus Canada Inc. as agent.
Offering Structure
Each unit comprises one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at C$1.15 for 24 months following closing. The agent has been granted a 15% over-allotment option for additional units of up to C$1,050,090.
Use of Proceeds
The Company intends to use the net proceeds to conduct exploration work on its South Cariboo and Mineral Creek projects in British Columbia, as well as for general working capital purposes. Closing is expected on or about January 28, 2026, subject to regulatory approval. The units are subject to a four-month hold period under applicable Canadian securities laws.
Related Projects
Forward-looking statements. This release contains forward-looking information within the meaning of applicable Canadian securities laws. Actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which speak only as of the date of the release.