Patriot Battery Metals Inc. announced a $75 million fundraising through a charity flow-through offer, issuing approximately 5.16 million common shares at $14.54 per share. This price represents a 51 percent premium to the last closing price of Patriot's common shares on the TSX as of May 17, 2024.

The proceeds from this offering are earmarked exclusively for exploration activities at the company's Corvette Lithium Project, located in the Eeyou Istchee James Bay region of Quebec, Canada. This strategic move aims to further develop the Corvette mineral resource and test several high-priority targets within the company's broader landholding.

The flow-through offering was facilitated by PearTree Securities Inc., with Euroz Hartleys Limited and Argonaut Securities Pty Limited acting as Australian joint lead managers, and Raymond James Ltd. serving as the Canadian sole bookrunner.