09:14 AM EST, 01/30/2026 (MT Newswires) -- Nuvau Minerals ( NMCPF ) on Friday entered into an agreement with agents in connection with a proposed "best efforts" brokered private placement for proceeds of up to $20 million.

The company said the offering will consist of the offer and sale of up to 18.75-million units, at $0.80 apiece, for $15 million, and 5-million flow-through shares, at $1.00 per FT share. The agents will have an option, exercisable in whole or in part, up to 48 hours prior to the closing date, expected on or about February 19, to offer for sale up to any combination of additional units, common shares and/or warrants to raise up to an additional $5 million in proceeds.

Each Unit will consist of one common share and one-half of one transferrable common share purchase warrant, with each warrant entitling the holder to buy a share for $1.30 apiece for a three-year period following the closing of the offering. The company said all FT shares will be common shares that qualify as "flow-through shares."

Proceeds of the offering will be used for working capital and general corporate needs and for the completion of exploration and development activities at its Matagami property.

Shares of the company closed down 6.7% to $0.97 on Thursday on the TSX Venture Exchange.