PTX Metals Inc. Announces Final Closings of Private Placement

Toronto, Ontario--(Newsfile Corp. - May 14, 2026) - PTX Metals Inc. (TSXV: PTX) ("PTX" or the "Company") is pleased to announce the final closings of its previously disclosed non-brokered private placement of hard dollar units and flow-through shares (see news releases dated April 8, 2026, April 14, 2026, April 23, 2026, April 27, 2026 and April 30, 2026). Under the most recent closings the Company issued a total of 8,200,000 flow-through shares ("FT Shares") at a price of $0.125 per FT Share for aggregate gross proceeds of $1,025,000 and a total of 2,499,544 hard dollar units ("HD Units") at a price of $0.11 per HD Unit for gross proceeds of $274,949.84, bringing the total number of FT Shares issued to date to 40,950,000 for total gross proceeds of $5,118,750 and the total number of HD Units to 17,472,723 for total gross proceeds of $1,921,999.53

In addition, to date the Company has paid a total of $367,766.00 in finders fees and issued a total of 2,934,775 finder warrants ("Finder Warrants") to eligible finders. Each Finder Warrant entitles the holder thereof to purchase one common share at a price of $0.125 (subject to adjustment) for a period of two (2) years following the issuance of the Finder Warrants.

Each HD Unit consists of one (1) common share of the Company (a "Common Share") and one-half of one (1/2) Common Share purchase warrant (each whole such share purchase warrant, a "Warrant"). Each Warrant is exercisable to acquire one (1) additional Common Share (each, a "Warrant Share") at a price of $0.18 for a period of 36 months from the date of issuance. No fractional Warrants will be issued, and no cash or other consideration will be paid in lieu of fractional Warrants. The Warrants are subject to an acceleration provision, whereby the Company may accelerate the expiry date of the Warrants if the closing price of the Company's Common Shares on the TSX Venture Exchange (the "TSXV") is at or above $0.40 for more than twenty (20) consecutive trading days, in accordance with the terms of the Warrants.

The Company intends to use the proceeds from the issuance of the Units for general corporate expenses and working capital purposes and to use the gross proceeds from the issuance of the FT Shares to incur eligible "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the "Tax Act") that qualify as "flow-through critical mineral mining expenditures" as defined in subsection 127(9) of the Tax Act (the "Qualifying Expenditures") related to the Company's projects in Ontario. The Qualifying Expenditures will be incurred on or before December 31, 2027 and will be renounced by the Company to the purchasers with an effective date no later than December 31, 2026 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.

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