Defense Metals Raises Approximately CA$52,740 in Final Tranche of Non-Brokered Private Placement

07:16 AM EDT, 10/27/2026 (MT Newswires) -- Defense Metals (DEFN.V) raised approximately CA$52,740 in the second and final tranche of its non-brokered private placement, bringing combined gross proceeds to approximately CA$3.7 million from both its tranches, it said late Monday. The company issued 376,714 units at a price of CA$0.14 each under the second and final tranche of the offering, issued under the Non-LIFE offering, the company said. Each unit is made up of a share and one-half of a warrant, with each whole warrant entitling the holder to buy a share at an exercise price of CA$0.21 per warrant share for a period of 36 months following the closing date. The company plans to use the net proceeds to advance its Wicheeda Rare Earth Element Project in British Columbia, including support for the company's strategic investment and partnership objectives, and for general working capital and corporate purposes, it added. The offering remains subject to the final approval of the TSX Venture Exchange, said Defense Metals.