La Mancha Investments, a wholly owned subsidiary of La Mancha Resource Fund, has entered into a subscription agreement to acquire a 19.9% stake in Miata Metals (TSX-V:MMET).
Under the agreement, La Mancha will subscribe for 33.47 million common shares in Miata for an aggregate consideration of C$13.72 million ($13.91 million).
The subscription forms part of a non-brokered private placement expected to close today (18 August).
Prior to signing the agreement on 15 August 2026, La Mancha held no shares in Miata. Upon completion, it will beneficially own approximately 19.9% of issued and outstanding shares.
The ownership percentage factors in shares issued under this subscription along with Miata’s separate concurrent bought deal financing. La Mancha says the strategic position is being acquired for investment and portfolio management purposes.
The firm intends to review its holding on an ongoing basis. Depending on market, economic, and industry conditions, La Mancha says it may adjust its position through market transactions, private arrangements, or treasury issuances.
An early warning report with additional details will be filed under Miata’s profile on SEDAR+.
Miata Metals is a Canadian mineral explorer focused on acquiring and advancing gold assets in Suriname’s greenstone belt.
Write to Paula Fabe at Mining.com.au
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