Hercules Metals Closes $50 Million Bought Deal With Barrick Exercising Participation Right

Hercules Metals Corp. closed a $50 million bought deal private placement on November 12, 2026, issuing 57,472,200 common shares at $0.87 per share for aggregate gross proceeds of $50,000,814. The offering included the full exercise of the underwriters' option, signaling strong institutional demand for the financing.

Barrick, a major mining company, confirmed it will fully exercise its participation right in connection with the transaction, maintaining its proportional stake in Hercules. The deal underscores continued strategic interest from Barrick in Hercules Metals, which trades on the TSX Venture Exchange under the ticker BIG and on the OTCQB as BADEF and is focused on copper assets in Idaho.