Highlights

  • Generation Mining completed a CAD 0.75 million private placement with Biigtigong Nishnaabeg First Nation.
  • The investment follows identical terms to the January 2026 bought-deal financing.
  • Shares moved higher as markets assessed funding progress for the Marathon Project.

Generation Mining (TSX:GENM) announced that Biigtigong Nishnaabeg First Nation acquired 1,041,666 units of the company through a private placement priced at CAD 0.72 per unit. The transaction generated gross proceeds of approximately CAD 0.75 million and was completed on identical terms to the company’s bought-deal financing that closed on January 15, 2026.

Each unit consisted of one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to acquire one additional common share at a price of CAD 1.00 for a period of 24 months from the date of issuance. Net proceeds are expected to be directed toward advancing development activities at the Marathon Project in Northwestern Ontario.

Longstanding Community Framework
The investment builds on an existing framework between Generation Mining and Biigtigong Nishnaabeg First Nation. In November 2022, the First Nation approved a Community Benefits Agreement related to the Marathon Copper Palladium Project, which is owned by Generation Mining’s wholly owned subsidiary, Generation PGM Inc.

The agreement outlines benefits for the community and addresses how project-related impacts are to be managed. Areas covered include environmental management, employment, training and education, business participation, social and cultural initiatives, and financial involvement linked to the project’s progress.

Marathon Project Overview
Generation Mining’s primary focus remains the Marathon Project, a copper-palladium deposit located in Northwestern Ontario. The Marathon Property spans approximately 36,398 hectares, equivalent to about 364 square kilometers. Development work on the project continues as the company evaluates technical, environmental, and regulatory requirements associated with the asset.

Share Price Movement
Generation Mining shares traded at CAD 0.76 on the Toronto Stock Exchange, reflecting a daily increase of CAD 0.09, or 13.43 %, as of February 9, 2026.

With project financing progressing through a community-linked investment, Generation Mining is advancing the Marathon Project while operating within an established benefits framework. Market participants continue to monitor funding activity, development milestones, and share price movements tied to updates around the Northwestern Ontario asset.

FAQs

Q1. What is the size of the recent investment in Generation Mining?
Biigtigong Nishnaabeg First Nation invested approximately CAD 0.75 million through a private placement.

Q2. What are the key terms of the units issued?
Each unit includes one common share and half a warrant exercisable at CAD 1.00 within 24 months.

Q3. How did Generation Mining shares react to the announcement?
The stock traded at CAD 0.76, rising about 13.43 percent on the day of the update.