05:32 PM EDT, 05/26/2025 (MT Newswires) -- Matador Technologies ( MATAF ) said Monday afternoon that it had completed the first tranche of its non-brokered private placement, raising about C$1.58 million by issuing nearly 2.9 million units at $0.55 each.

Each unit includes one common share and half of one common share warrant. A full warrant allows the holder to buy one additional share at $0.75 within 12 months. Warrants may expire early if Matador's stock trades at $1.05 or more for five straight days, starting four months after closing, the company said.

All securities are subject to a hold period until September 27. Proceeds will be allocated roughly equally to Bitcoin purchases, the company's gold acquisition and Grammies initiatives, and general corporate purposes, Matador Technologies ( MATAF ) said, adding that the offering is still subject to final approval from the TSX Venture Exchange.