Generation Mining

Generation Mining Announces Changes to Board of Directors
May 20, 2025

Generation Mining Limited (TSX:GENM, OTCQB: GENMF) (“ Gen Mining ” or the “ Company ”) is pleased to announce the appointment of Ms. Rebecca Hudson to the Company’s Board of Directors. Ms. Hudson has also been appointed the independent Chair of the Audit Committee. In addition, Mr. Stephen Reford has been appointed as the Company’s independent Lead Director. Ms. Hudson and Mr. Reford’s appointments fill the vacancies which arose upon the untimely passing of Mr. Paul Murphy at the end of last year. The Company also announces that Mr. Cashel Meagher, who recently assumed the role of Chief Executive Offer of Capstone Copper Corp. has notified the Board that with his new responsibilities he will not be standing for re-election at the upcoming annual meeting of shareholders on June 24, 2025. The Board intends to seek a replacement for Mr. Meagher and expects to appoint a new director at a later date as permitted in accordance with the Company’s by-laws and applicable laws.

Kerry Knoll, Chairman of Board remarked: “On behalf of the Board, I would like to extend my sincere thanks to Cashel for his contributions to Generation Mining since he joined the Board in 2020. He has been an outstanding director, who has contributed his extensive operational knowledge and experience to our governance and oversight of the Company. We wish him great success in his leadership role at Capstone. The Board is also pleased to welcome Ms. Hudson and to nominate her to stand for election to our Board in June. Ms. Hudson’s financial skills and experience will be a valuable addition to our Board as we navigate the transition from a mineral developer to a producer, and as we continue to pursue permitting and financing of our Marathon Project.”

Ms. Hudson is a Chartered Professional Accountant with over 25 years’ experience in accounting and financial reporting, corporate finance, risk management, financial audit and corporate governance. She currently serves as the CFO of Restart Life Sciences Corp., Signature Resources Ltd., Energy Plug Technologies Corp., and a private drilling company, Andean Drilling Services Inc. Prior to that Ms. Hudson was a principal consultant with Grove Corporate Services and was the founder of a zero-waste products company. Ms. Hudson has held managerial positions at mining companies Xstrata, and Falconbridge, completed project-based work for IAMGOLD at its offices in Quito, Ecuador, and was the Controller of Royal Nickel Corporation, and Barkerville Gold Mines Ltd. Ms. Hudson formerly served as the CFO of TerrAscend Corp., Hornby Bay Mineral Exploration Ltd., Wabi Exploration Inc., Lithium One Inc., and Claim Post Resources Inc. She also worked as a senior auditor with firms Grant Thornton LLP in Toronto, Canada, and PricewaterhouseCoopers in the Dominican Republic. Ms. Hudson has both her Bachelor of Arts and Master’s Degrees from the School of Accountancy at the University of Waterloo. She is fluent in English and Spanish.

https://genmining.com/news/2025/...nces-changes-to-board-of-di-10132/  

Final Construction Permit Received for Marathon Project - Canada's Next Major Shovel-Ready Critical Mineral Project
May 22, 2025

Generation Mining Limited (TSX:GENM, OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce that it has received the final key permit required for the construction of the Marathon Copper-Palladium Project (“Marathon Project”) in Northwestern Ontario. The Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) has been received from the Ontario Ministry of Environment, Conservation and Parks for the management and discharge of water for the construction phase of the Marathon Project.

Jamie Levy, President and CEO of Generation Mining, commented, “With this final permit, Generation believes that the Marathon Project will be a major step forward in securing domestic supplies of copper and palladium – essential elements for clean energy and advanced technologies. The completion of construction permitting was one of our key objectives for this year, and securing construction financing is now the final milestone to be able to move the Marathon Project forward. With a shovel-ready plan and strong community support, the Marathon Project has the potential to deliver critical minerals, create skilled jobs and strengthen the Canadian supply chain for a more resilient future.”

Ruben Wallin, Vice President Sustainability, noted “The receipt of the ECA-ISW marks the completion of the construction phase approvals process for the Project. The Company greatly appreciates the Indigenous communities, the Town of Marathon, and the federal and provincial government agencies that were involved in the process over the past 5 years. The Company would also like to recognize the hard work and dedication of our employees and consultants, present and past, in achieving this significant milestone for the Project.”

https://genmining.com/news/2025/...it-received-for-marathon-pr-10141/
 

Generation Announces Receipt of Support Letter for up to $200 Million from leading Financial Lender

May 23, 2025

Toronto, Ontario – 23 May 2025 – Generation Mining Limited (TSX:GENM, OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce receipt of a support letter from a leading Canadian financial institution stating its interest to provide up to $200 million in a new long-term credit facility for the Marathon Copper-Palladium Project (the “Marathon Project”), which would be in addition to the senior secured project finance facility to be arranged with the mandated senior lenders.

Jamie Levy, President and CEO, commented: “This support letter, along with a recent extension from our mandated senior lenders, demonstrates the continued interest of lenders to get the Marathon Project built and into production. We also continue to have access to $200 million of construction financing through our metals streaming agreement with Wheaton Precious Metals Corp., and we continue to have discussions with other corporate, institutional and retail investors, along with other alternative equity providers, to raise the remaining equity or subordinated financing required for construction in the least dilutive manner possible. We look forward to providing further updates when available.”

https://genmining.com/news/2025/...ion-from-leading-financial-lender/  

Province of Ontario identifies Marathon Project as Shovel-Ready Strategic Mineral Project for Investment
June 6, 2025

Toronto, Ontario – 6 June 2025 – Generation Mining Limited (TSX:GENM, OTCQB: GENMF) (“Gen Mining” or the “Company”) thanks the Province of Ontario for urging the federal government to invest in shovel-ready strategic mineral projects, including our Marathon Copper-Palladium Project (the “Marathon Project”), that are critical to building a secure domestic supply chain. In connection with the ongoing dialogue between the Province of Ontario, the Government of Canada, and other provincial and territorial governments, on June 5, 2025 Ministers Stephen Lecce, Mike Harris, and Greg Rickford, and Associate Ministers Kevin Holland and Sam Oosterhoff of Ontario, issued an open letter to the federal Minister of Energy and Natural Resources, Tim Hodgson, identifying priority projects for Ontario, and remarked: “Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain including…Generation Mining’s Marathon Project.”

Jamie Levy, President and CEO, commented: “I’d like to thank the Government of Ontario for their strong and ongoing support for the Marathon Project. We have maintained a very good relationship with the federal government throughout our environmental assessment and permitting process, and we continue to see strong indications of support from federal departments and agencies. Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production. The Marathon Project promises to be a significant contributor to Canada’s critical mineral supply chain, as well as the local, regional and national economies. We look forward to bringing this project to fruition with continued encouragement from the provincial and federal governments.”

https://genmining.com/news/2025/...ic-mineral-project-for-investment/  

Generation Mining Announces $10 Million Bought Deal Financing
June 11, 2025

Toronto, Ontario– 11 June 2025 – Generation Mining Limited (TSX:GENM, OTCQB: GENMF) (“Gen Mining” or the “Company”) announced today that it has entered into an agreement with Stifel Nicolaus Canada Inc. (“Stifel Canada”) to act as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”) in connection with a “bought deal” private placement offering of 27,027,027 Units of the Company at a price of C$0.37 per Unit (the “Offering Price”) for gross proceeds to the Company of up to C$10,000,000 (the “Offering”), with the Units to be issued pursuant to the Listed Issuer Financing Exemption (as defined below).

Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at a price of C$0.48 per common share at any time on or before that date which is 36 months after the date that is 61 days following the closing date of the Offering.

The Company has granted to the Underwriters an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 15% of Units at the Offering Price for additional gross proceeds of up to C$1,500,000.

The Company intends to use the net proceeds received from the Offering for development purposes at the Company’s Marathon Project and general corporate purposes.

The Offering is expected to close on or about June 24, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the conditional approval from the Toronto Stock Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (“NI 45-106”), the Units will be offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”). As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca or on the Company’s website at www.genmining.com. Prospective investors should read the offering document before making an investment decision.

No U.S. Offering or Registration

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

https://genmining.com/news/2025/...-10-million-bought-deal-financing/  

Generation Mining Announces Results of Annual Meeting of Shareholders
June 24, 2025

Toronto, Ontario – June 24, 2025 – Generation Mining Limited (TSX:GENM, OTCQB: GENMF)
(the “Company”) announces the voting results from its annual meeting of shareholders (the “Meeting”) held earlier today.

The five (5) candidates nominated for election to the Company’s board of directors and listed in the Company’s Management Information Circular dated May 15, 2025, were each elected by a majority of the votes cast by shareholders present in person or represented by proxy at the Meeting. Each director elected will continue to hold office until the next annual meeting of Shareholders, or until a successor is elected or appointed. The voting results were as follows:

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https://genmining.com/news/2025/...of-annual-meeting-of-shareholders/  

Generation Mining Closes $11.5 Million Bought Deal Financing
June 24, 2025

TORONTO – (BUSINESS WIRE) – June 24, 2025 – Generation Mining Limited (TSX:GENM)(OTCQB: GENMF) (“Generation Mining” or the “Company”) is pleased to announce that it has completed its previously announced private placement of $10 million of units of the Company (the “Units”) including the full exercise of the Underwriters’ (as defined below) option, for aggregate gross proceeds of approximately $11.5 million (the “Offering”). The Offering was conducted by a syndicate of underwriters led by Stifel Nicolaus Canada Inc., and including Haywood Securities Inc. (collectively, the “Underwriters”), and consisted of the sale of 31,082,200 Units at a price of $0.37 per Unit.

Each Unit comprised of one common share in the capital of the Company (each a “Common Share”) and one-half (½) of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.48 at any time from August 24, 2025 until August 24, 2028.

The Company intends to use the net proceeds from the Offering on the development of its Marathon Project and for general corporate purposes.

The Units were issued pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions, to purchasers resident in Canada (other than the province of Québec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, and are not subject to a statutory hold period pursuant to applicable Canadian securities laws. The Offering remains subject to the final approval of the Toronto Stock Exchange.

The Company also announces that Mr. Eric Sprott, through 2176423 Ontario Inc., a corporation beneficially owned by him, acquired Units in the Offering to maintain his pro rata ownership interest in the Company.

In connection with the Offering, Jamie Levy, the President, Chief Executive Officer and a director of the Company, acquired 189,190 Units, Phillip C. Walford, a director of the Company, acquired 67,560 Units, and Stephen Reford (together with Messrs. Levy and Walford, the “Insiders”), a director of the Company, acquired 60,000 Units. Participation by the Insiders in the Offering was considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders’ participation in the Offering pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report less than 21 days in advance of the closing of the Offering as the participation of the Insiders in the Offering had not been confirmed at that time.

The Units (including the underlying securities) 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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https://genmining.com/news/2025/...1.5-million-bought-deal-financing/