EraNova Metals Inc. (TSXV: NOVA) (OTCQB: STXPF) has announced a non-brokered private placement of up to 6,769,231 units priced at $0.13 per unit, targeting gross proceeds of up to $880,000. The financing is backed by long-term strategic shareholders and is aimed primarily at funding preparatory work for a planned summer 2027 drill program at the company's flagship Ruby Creek Property in British Columbia. The announcement also includes a corporate appointment, signalling ongoing organisational activity at the Vancouver-based mineral explorer.

Key Points

  • EraNova Metals Inc. (TSXV: NOVA / OTCQB: STXPF) announced the private placement on October 30, 2026
  • Up to 6,769,231 units offered at $0.13 per unit for gross proceeds of up to $880,000
  • Each unit comprises one common share and one-half warrant exercisable at $0.25 for 3 years; insiders may participate, triggering related-party transaction rules
  • Investors may watch for TSX Venture Exchange approval, closing tranches, and drill program updates at Ruby Creek in 2027

Unit Structure and Warrant Terms for the EraNova Private Placement

Each unit issued under the private placement consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at $0.25 for a period of 3 years following issuance. No finders' fees will be paid in connection with the offering. All securities issued will be subject to a four-month and one-day statutory hold period under applicable Canadian securities laws. Closing is expected as soon as practicable and may occur in one or more tranches, subject to TSX Venture Exchange approval and other regulatory conditions.

Planned Use of Proceeds Targeting Ruby Creek Exploration in 2027

The company states that net proceeds will support expansion of its corporate profile and investor awareness in international markets, strengthening its technical and operational team, advancing exploration target definition, and undertaking preparatory work for a planned summer 2027 drill program at the 29,700-hectare Ruby Creek Property near Atlin, British Columbia. Ruby Creek hosts the Adanac Molybdenum Project and the Atlin Discovery Project, which the company describes as carrying a growing pipeline of high-grade copper, gold, silver, and tungsten targets across a district-scale land package.

Insider Participation and Related-Party Transaction Disclosures

EraNova has disclosed that certain directors, officers, or other insiders are anticipated to acquire units under the offering, constituting a related-party transaction under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements, noting that the fair market value of the transaction involving related parties is not expected to exceed 25% of the company's market capitalisation as determined under MI 61-101. The immediate share price impact was not clear from available public information.

EraNova Appoints CFO Yana Silina as Corporate Secretary

Separately, EraNova announced that Chief Financial Officer Yana Silina will assume the additional role of Corporate Secretary effective October 31, 2026, replacing Marion McGrath. Ms. Silina will continue to serve as CFO while taking on the expanded responsibilities. The company thanked Ms. McGrath for her service and contributions. No further details regarding the transition were disclosed in the announcement.