# Perseverance Metals closes $11.78 million private placement

> The company issued more than 18.1 million shares and plans to direct proceeds to exploration in Michigan, Quebec and Ontario.

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- Publisher: Newsverum
- Section: Finance
- Country: Canada
- Published: 2026-10-07T12:59:35+00:00
- Updated: 2026-10-07T12:59:35+00:00
- Event / data period: 2026-10-02
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Perseverance Metals said on October 2 that it closed a private placement of 18,121,426 common shares at $0.65 each. Gross proceeds were reported as $11,778,926.90; the release did not separately specify the currency.

The company plans to use net proceeds for drilling at Voyageur in Michigan, exploration at Lac Gayot in Quebec and Armit Lake in Ontario, and general corporate purposes. The issuance remains subject to final TSX Venture Exchange approval, so the closing announcement does not mean exchange approval is complete.

## Data

### Shares issued in the private placement

Number of common shares sold in the placement that the company said closed on October 2.

Methodology: This records the share count. The dollar proceeds are not converted because the release did not separately identify the currency.

| label | value | unit | period | basis | value_qualifier |
|---|---|---|---|---|---|
| Common shares sold in the placement | 18121426 | count | 2026-10-02 | observed | exact |

Sources: <https://perseverancemetals.com/perseverance-metals-closes-11-8m-non-brokered-private-placement/> · Download data: [JSON](https://newsverum.com/api/v1/articles/perseverance-metals-closes-private-placement-october-2026/data/release-figures?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/perseverance-metals-closes-private-placement-october-2026/data/release-figures?lang=en&format=csv)

## Sources

- [Perseverance Metals Inc.](<https://perseverancemetals.com/perseverance-metals-closes-11-8m-non-brokered-private-placement/>) (Source checked: 2026-10-07; Published: 2026-10-02)

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