Mogotes raises C$19M in private placement with CD Capital backing

Mogotes Metals Inc. (TSXV: MOG) announced a non-brokered private placement to raise up to C$19 million through the issuance of 71,698,113 units at C$0.265 per unit. Each unit consists of one common share and one-half of a warrant, with each full warrant allowing the purchase of one additional share at C$0.53 within three years.

CD Capital Fund IV L.P. subscribed for C$15 million of the offering, representing approximately 79% of the total placement. The investment will make CD Capital a significant shareholder upon completion. As part of the strategic investment, Carmel Daniele, founder and CEO of CD Capital, will join Mogotes' board of directors.

Daniele has launched four private equity funds, raising over US$1 billion from institutional investors including endowments, foundations, family offices and pension funds. CD Capital focuses on minerals critical to data technology, environmental initiatives and fertilizers. Daniele previously served on the board of Filo Corp, which was acquired by BHP and Lundin Mining for C$4.5 billion, and currently serves on Lundin Gold's board.

The investment includes an investor rights agreement granting CD Capital several provisions: pre-emptive rights to participate in future equity financings while holding 5% or more of shares, top-up rights when diluted by 2% or more, an option to increase holdings to 19.9% within five years, and the right to nominate one board director while maintaining at least 5% ownership.

Mogotes will use the proceeds for general corporate and working capital purposes. The company's flagship Filo Sur project is adjacent to the Filo del Sol copper-gold-silver discovery. Securities issued in Canada and the United States will be subject to a four-month hold period, while those issued in other jurisdictions will not face statutory hold periods under Canadian securities laws.

The offering remains subject to regulatory approvals, including approval from the TSX Venture Exchange.

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