Alex Metals lists on the TSX Venture after raising C$16.1 million for Alaska VMS exploration
The new explorer listed on September 22 and was halted until its final placement closed. Insiders bought about 3% of the last round.
September 22, 2026 at 4:00 p.m. EDT · 2 min read
Alex Metals (TSXV: ALX) listed on the TSX Venture Exchange at the open on September 22 and was immediately halted pending the close of a final private placement. The company said trading was expected to begin on September 25.
The money
Alex Metals' go-public financings raised about C$16.1 million in total, detailed in its final prospectus of September 14. The last piece was a non-brokered placement of 5,526,999 shares at $0.70 each, for $3,868,899. Finder's fees were $92,298.
Directors and officers bought 166,000 shares in that placement for $116,200, about 3% of it.
The plan
The company holds three projects in Southeast Alaska, targeting precious metals-rich volcanogenic massive sulphide, or VMS, deposits. The region hosts several large VMS deposits but, the company says, has seen limited exploration in recent decades. Its first field season drilled four targets across two projects, alongside geophysics, mapping and sampling.
What to watch
The first assay results from this season's drilling. A new listing's first results usually decide whether the stock holds its financing price. Shares from the final placement carry a four-month hold, so they cannot trade until January 2027.
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