Toronto, Ontario--(Newsfile Corp. - September 29, 2026) - Libra Energy Materials Inc. (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce that it has closed its previously announced strategic private placement of CMETC flow-through common shares ("CMETC Shares") for aggregate gross proceeds of $725,000 (the "Offering"). The Offering was led by Québec-based institutional investors SIDEX limited partnership ("SIDEX") and NQ Mining Investment ("NQMI"). See the Company's news release dated September 25, 2026 for further details.

Pursuant to the Offering, the Company issued 5,000,000 CMETC Shares at a price of $0.145 per CMETC Share.

"With the closing of this strategic financing led by SIDEX and NQ Mining Investment, and last week's offering, Libra is now fully funded to deliver our next catalysts at Cisco West and Obamska. Together, these two financings have institutionalized our story with long-term, savvy investors who understand the opportunity in James Bay" said Koby Kushner, Chief Executive Officer of Libra.

"SIDEX is pleased to support Libra's grassroots initiatives in Québec. Cisco West and Obamska are strategically located in Eeyou Istchee James Bay, a region with excellent mineral potential for large-scale lithium-bearing pegmatite deposits" said André Laferrière, Investment Manager of SIDEX.

"NQMI is proud to support Libra and its Cisco West and Obamska projects, which have the potential to create synergies with other mining initiatives in the Matagami area and generate meaningful economic benefits for the region" said Sylvain Lépine, General Manager of NQ Mining Investment.

The gross proceeds will be used to incur "Canadian exploration expenses" that qualify as "flow-through mining expenditures" under the Income Tax Act (Canada) on the Company's Québec projects, including the newly acquired flagship Cisco West and Obamska projects in the Eeyou Istchee James Bay region. The Company will renounce these expenditures to subscribers with an effective date no later than December 31, 2026. The CMETC Shares also qualify for the Government of Canada's Critical Mineral Exploration Tax Credit.

In connection with the Offering, the Company paid a cash finder's fee of $29,000 to Eskar Capital Corporation, an arm's length finder. All securities issued under the Offering are subject to a statutory hold period expiring on January 30, 2027, in accordance with applicable Canadian securities laws. No insiders of the Company participated in the Offering. The Offering remains subject to the final acceptance of the Canadian Securities Exchange (the "CSE").

Total Financing Completed

With the closing of the Offering, Libra has raised aggregate gross proceeds of $2,610,399.95 through two financings completed in September 2026. On September 24, 2026, the Company closed the second and final tranche of its upsized non-brokered private placement under the Listed Issuer Financing Exemption (the "LIFE Offering"), which raised gross proceeds of $1,885,399.95 through the issuance of 14,844,000 non-flow-through common shares at a price of $0.10 per share (for $1,484,400) and 3,084,615 CMETC flow-through common shares at a price of $0.13 per share (for $400,999.95). Together with the 5,000,000 CMETC Shares issued today at $0.145 per share, Libra has issued a total of 22,928,615 common shares across both financings.

About SIDEX

SIDEX is an investment fund established by the Government of Québec and the Fonds de solidarité FTQ. It invests in companies exploring in Québec, with the aim of diversifying the province's mineral base and supporting innovation and new exploration teams.

About NQ Mining Investment

NQ Mining Investment is a regional investment fund based in Matagami that supports mining development in Northern Québec. It provides capital and strategic expertise to exploration companies, with a focus on responsible development and lasting benefits for local and Indigenous communities.

About Libra Energy Materials Inc.

Libra (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) is a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition. Libra's flagship Canadian projects include the recently optioned Cisco West and Obamska lithium projects in Québec, located adjacent to Q2 Metals' Cisco deposit, the largest hard-rock lithium deposit in the Western Hemisphere. Libra's Flanders North, Flanders South, and SBC lithium projects in Ontario are being explored under a CAD $33 million earn-in deal with KoBold Metals Company. In addition, Libra holds a broader portfolio of battery metals projects across Canada and Brazil. The Libra team comprises a mix of seasoned executives, engineers, and geoscientists, with extensive experience in mining and mineral exploration, capital markets, asset management, energy, and First Nations engagement.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such statements relate to future events and include, without limitation, statements regarding the use of proceeds of the Offering and the LIFE Offering, the timing and renunciation of Canadian exploration expenses, the qualification of the CMETC Shares for the Critical Mineral Exploration Tax Credit, final acceptance of the Offering by the CSE, planned exploration activities on the Company's Québec projects, and other risks associated with the natural resources industry. All statements other than historical facts are forward-looking statements.

These forward-looking statements are based on assumptions and expectations considered reasonable by management at the time they were made; however, no assurance can be given that such expectations will prove correct. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. Accordingly, readers should not place undue reliance on such statements.

The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update or revise them, except as required by applicable securities laws. Readers are cautioned that the foregoing list of factors is not exhaustive.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316537

Source: Libra Energy Materials Inc.