Bahia Metals Corp. Completes Initial Public Offering of $5,750,000, with Full Exercise of Over-Allotment Option

Bahia Metals Corp. (CSE: BMT) ("Bahia" or the "Company") is pleased to announce that it has successfully completed its initial public offering (the "IPO") of 11,500,000 units of the Company (the "Units") at a price of $0.50 per Unit, inclusive of the full exercise of the 15% over-allotment option. The gross proceeds from the IPO financing were $5,750,000.

The Company's common shares will commence trading on February 12, 2026 on the Canadian Securities Exchange ("CSE") under the ticker symbol "BMT.CN".

Each Unit of the IPO financing consists of one common share in the authorized share structure of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share in the capital of the Company at a price of $0.90 per share until February 11, 2029. The warrants are subject to an acceleration right held by the Company, such that in the event that the closing price of the Company's shares on the CSE is $1.50 or greater per share for a total of seven trading days within a twenty consecutive day trading period, all warrants issued in connection with the IPO will expire 30 days following written notice (via news release) provided by the Company (the "Acceleration").

Pursuant to an agency agreement dated January 30, 2026, between Canaccord Genuity Corp. (the "Agent") and the Company, the Agent acted as exclusive agent for the Company in connection with the IPO. The Company paid cash commission in the amount of $347,958, issued 100,000 common shares of the Company, and granted non-transferable warrants to purchase up to an aggregate of 795,916 common shares of the Company at a price of $0.50 per share until February 11, 2029, subject to the Acceleration and a voluntary six-month hold period.

The net proceeds from the IPO will be expended on work programs at the Company's Mangueiros Nickel Sulphide-Copper Cobalt Project located in Bahia State, Brazil and for general working capital purposes.

Mr. Goodman, CEO, states, "Bahia Metals has completed the requirements to secure 100% of the project that was initially owned and advanced by investors related to Appian Capital Advisory Limited. This milestone is a positive step in the company's trajectory towards increasing shareholder value."

The company will be attending PDAC 2026 from March 1-4 and looks forward to meeting with its supporters and the broader mining community. Please email the company to arrange a meeting.

About Bahia Metals Corp.

Bahia Metals Corp. is a mining company focused on advancing its Mangueiros Project, a Nickel Sulphide - Copper Cobalt project located in Bahia State, Brazil.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of the Company. Forward-looking statements include, but are not limited to, the trading of the Company's common shares on the CSE and the timing thereof and the Company attending PDAC. The words "expected", "will", "will have", "will be", "estimated" and similar expressions are intended to be among the statements that identify forward-looking statements. Although the Company believes that its expectations as reflected in any forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.

The securities referenced in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold in the United States or to "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy such securities in any jurisdiction.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283685