Errington Metals Closes C$34.5M Brokered Placement, Alaska Silver Lands C$7.6M Crescat PIPE as TSXV Year-to-Date Financings Rise 69.1%

Errington Metals (TSXV: EM) closed a C$34.5 million private placement on August 11, 2026. The raise split into two tranches: 1.93 million flow-through shares at C$5.19 each, generating C$10 million earmarked for eligible Canadian and Ontario critical minerals exploration, and 7.004 million common shares at C$3.50 each for C$24.5 million in general exploration and working capital, per Mining.com.au's August 12, 2026 report.

Stifel Nicolaus Canada ran the books as co-lead agent and sole bookrunner. CIBC World Markets and BMO Financial Group co-led alongside.

Proceeds target Errington's wholly-owned Sudbury Basin Project, which the company describes as hosting high-grade volcanogenic massive sulphide-style mineralization. The flow-through component carries a hard deadline: expenditures must be incurred by December 31, 2027 and renounced to initial purchasers with an effective date no later than December 31, 2026, per Mining.com.au's August 12, 2026 report.

Alaska Silver Corp. (TSXV: WAM) closed its PIPE on August 17, 2026, raising aggregate gross proceeds of C$7,615,800 (approximately US$5,480,000), per the August 17, 2026 SEC filing. The company issued 13,846,910 units at C$0.55 each. Each unit carries one common share and one warrant exercisable at C$0.75 for three years from issuance.

The lead participant was Crescat Capital LLC. Per the August 17, 2026 SEC filing, Crescat held approximately 13.8% of Alaska Silver's outstanding shares before the close and participated to maintain its position at approximately 13.7%.

Alaska Silver will deploy proceeds to expand its 2026 drilling program at Illinois Creek from 6,000 metres to approximately 9,000 metres, per the Globe and Mail's August 11, 2026 press release. The expanded program adds flexibility for priority targets including Waterpump Creek and Silver Sage, and covers ongoing metallurgical and technical work, baseline environmental studies, and general corporate purposes.

Both raises landed against a TSXV backdrop that TMX Group's September 9, 2026 equity financing statistics report quantifies. Total TSXV financings reached C$594.7 million in August 2026 — down 14% from July — but year-to-date TSXV financings climbed 69.1% to C$8.17 billion across 944 financings, with TSXV market cap up 20.2% versus the same period in 2025. On the senior TSX, total financings hit C$5.93 billion in August 2026, up 194% month over month and 1,911% year over year, per the same TMX report.

The broader equity tape as of the week ending September 26, 2026 added macro texture. The 10-year Treasury yield reached 5.135%, its highest level since July 2007, per sourced market data, driven in part by purchasing managers' index readings that came in hot. The CME FedWatch Tool placed October rate-hike odds at 66% as of September 25. The Federal Reserve's September 16 rate increase — its first in more than three years — was widely anticipated, with market prices indicating approximately 90% probability ahead of the decision, per sourced market data.

For Errington, the next hard date is December 31, 2026, when flow-through renunciations are due to initial purchasers. For Alaska Silver, the expanded 9,000-metre drill program at Illinois Creek — up from the original 6,000-metre plan — is the operational milestone ahead as 2026 exploration results move through the pipeline.