Hertz Energy launches up to US$2.2M private placement to fund critical mineral projects
What's the deal? Hertz EnergyDealroom has a profile for this one. Try Dealroom → has announced a non-brokered private placement of up to US$2.2M (roughly $2.2 million) to fund exploration across its portfolio of critical mineral projects. The Vancouver-based company disclosed the raise on September 15, 2026, alongside updates on its Lake George, Agastya, Crag-Rod and Harriman properties.
How is it structured? The financing splits into units at US$0.15 and flow-through shares at US$0.21, with combined gross proceeds of up to US$1.1M per tranche. Each unit includes a 36-month warrant at US$0.29 with an acceleration clause.
Where does the money go? Flow-through proceeds will fund eligible Canadian exploration expenses renounced to subscribers, while unit proceeds support exploration and working capital. The offering remains subject to Canadian Securities Exchange approval.
What's the endgame? At Lake George in New Brunswick, a 1,173-line-km airborne magnetic and VLF-EM survey outlined features interpreted as broadly similar to those over the historic Lake George Antimony Mine. Planned 2026 work includes mapping, geochemistry and up to 3,000m of diamond drilling if targets warrant.
What else is in the portfolio? In Yukon, the Craig Deposit within the Crag-Rod Silver Project has historical drill intercepts with high silver-lead-zinc grades, with permitting and surface work planned into 2027. Hertz is also seeking a joint venture or sale for its Harriman gold-antimony project in Québec.
What could go wrong? No mineral resources have been estimated across the projects, and no mineralisation has been identified on the Lake George or Agastya claims. The equity and flow-through structure also implies potential dilution for existing shareholders.
The signal: At roughly $2.2 million, the raise sits near the bottom of the funding range, a modest sum typical of early-stage exploration financing. For junior miners, flow-through shares remain a standard tool to fund Canadian drilling programmes while passing tax benefits to investors.
Read more: stocktitan.net
Image credit: HERTZ ENERGY
