SAGA Metals Corp. Completes Second and Final Tranche of IPO

SAGA Metals Corp. (TSXV: "SAGA") (FSE: "20H") has successfully finished the second and final tranche of its initial public offering (the "Offering"), securing gross proceeds of $1,116,460.68. This milestone marks a crucial moment for the company, which focuses on exploring critical minerals within Canada.

The Offering included the full exercise of the over-allotment option permitted to Research Capital Corporation (the "Agent"). It comprised a total of 554,250 hard dollar units ("HDUnits") sold at a price of $0.40 each. Additionally, 1,030,751 standard flow-through units ("Standard FT Units") were sold at $0.48 each, alongside 666,667 charity flow-through units ("Charity FT Units") priced at $0.60 each. These activities were executed under the Company's final prospectus dated August 30, 2024.

Each HDUnit consists of one common share and a warrant that allows holders to purchase additional shares at $0.60 until September 23, 2026. The Standard FT Units and Charity FT Units function similarly but are tied to specific flow-through tax benefits outlined in Canadian tax regulations.

Research Capital Corporation served as the sole agent for this Offering and received a commission of $69,666.85, along with a corporate finance fee. They were also granted non-transferable warrants to buy up to 146,308 common shares at $0.40 each until September 23, 2026.

The funds raised from this Offering will be earmarked for various purposes, including the exploration programs for the Double Mer Uranium Project, maintaining claims on secondary properties, and general administrative expenses.

"Securing funding for our maiden drill program at the Double Mer Uranium project is a major step forward for SAGA," stated Michael Garagan, CGO & Director of SAGA Metals Corp.

"I’m very proud of the hard work and dedication from our team, ensuring we have the necessary funds to advance our projects in a timely manner," said Mike Stier, CEO & Director of SAGA Metals Corp. "We have now finalized the remainder of our IPO prospectus, hitting the maximum threshold including the overallotment option for a total raised of ~$2,875,000. In this market, that is no small feat, and with our well-balanced capitalization structure we are positioned to continue efforts towards driving growth and shareholder value."

About SAGA Metals Corp.

SAGA Metals Corp. is a North American mining company dedicated to exploring and discovering vital minerals that contribute to the transition to green energy. Its flagship asset, the Double Mer Uranium Project, spans 25,600 hectares in Labrador, Canada, showcasing uranium radiometrics indicative of a significant east-west trend.

Besides uranium, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region, a project that has expanded through collaboration with Rio Tinto. The company is also actively exploring secondary properties for titanium, vanadium, and iron ore, demonstrating a diverse portfolio aimed at supporting a clean energy future.

For more information, interested parties can contact SAGA Metals Corp.'s Investor Relations.

The TSX Venture Exchange has not reviewed this release. No securities regulatory authority has approved the contents of this news release, nor does it constitute an offer to sell or a solicitation to buy any securities in jurisdictions where such offer would be unlawful.

SAGA, IPO, investment