SAGA Metals Announces Brokered LIFE Offering for Gross Proceeds of up to C$5 Million

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VANCOUVER, British Columbia, Nov. 12, 2025 (GLOBE NEWSWIRE) -- SAGA Metals Corp. (“SAGA” or the “Company”) (TSXV: SAGA) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (“Red Cloud”) to act as sole agent and bookrunner in connection with a “best efforts” private placement (the “Marketed Offering”) for aggregate minimum gross proceeds of C$3,000,000 and maximum gross proceeds of C$5,000,000 from the sale of any combination of the following:

• units of the Company (each, a "Unit") at a price of C$0.44 per Unit (the "Unit Price"), subject to the minimum sale of 4,545,455 Units for minimum gross proceeds of approximately C$2,000,000.20 from the sale of Units;
• flow-through units of the Company (each, a "FT Unit") at a price of C$0.50 per FT Unit; and
• flow-through units of the Company to be sold to charitable purchasers (each, a "Charity FT Unit", and collectively with the Units and FT Units, the “Offered Securities”) at a price of C$0.66 per Charity FT Unit.
  

Each Unit will consist of one common share of the Company (a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “FT Share”) and one Warrant. Each Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.60 at any time on or before that date which is 36 months after the Closing Date (as herein defined).

The Company also grants Red Cloud an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional C$1,000,000 in any combination of Units, FT Units and Charity FT Units at their respective offering prices (the “Agent’s Option”). The Marketed Offering and the securities issuable upon exercise of the Agent’s Option shall be collectively referred to as the “Offering”.

The Company intends to use the net proceeds from the Offering for the exploration of the Company’s properties in Labrador, Canada, including the Company’s Radar Project, as well as for working capital and general corporate purposes, as is more fully described in the Offering Document (as herein defined).