Libra Announces Private Placement

Libra Energy Materials Inc. is pleased to announce a non-brokered private placement (the "Offering") for aggregate gross proceeds to the Company of $700,000 consisting of (i) 5,000,000 common shares of the Company (the "HD Shares"), at a price of $0.10 per HD Share, for gross proceeds of $500,000; and (ii) 1,538,462 common shares of the Company that qualify as "critical flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "CMETC FT Shares"), at a price of $0.13 per CT Share for gross proceeds of $200,000. The Company reserves the right to increase the size of the Offering up to $1,300,000 to provide for the issuance of up to (i) 10,000,000 HD Shares at a price of $0.10 per HD Share, for gross proceeds of $1,000,000; and (ii) 2,307,692 CMETC FT Shares at $0.13 per CMETC FT Share, for gross proceeds of $300,000. The Company will use an amount equal to the gross proceeds receive by the Company from the sale of the CMETC FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada). The CMETC FT Shares will also qualify for the Canadian government's Critical Mineral Exploration Tax Credit; in respect of eligible Ontario purchasers, "eligible Ontario exploration expenditures" as defined in subsection 103(4) of the Taxation Act, 2007 (Ontario) related to the Company's Toivo, Stimson, Flanders South, Flanders North, and SBC projects in Ontario, and in respect of eligible Quebec purchasers pursuant to section 359.1 of the Quebec Tax Act related to the Company's Cisco West and Obamska lithium projects (the "Qualifying Expenditures"). The Company intends to use the net proceeds of the offered HD Shares for additional exploration on its properties and general working capital. Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the CMETC FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2027, and will be renounced by the Company to the initial purchasers of the CMETC FT Shares with an effective date no later than December 31, 2026. The Offering is expected to close on or about September 14, 2026 (the "Closing Date"), or such other date as the Company may agree, in one or more tranches, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the Canadian Securities Exchange (the "CSE"). The Company may pay finder's fees in cash to certain arm's length finders engaged in connection with the Offering, subject to the approval of the CSE. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the CMETC FT Shares and the HD Shares will be offered for sale to purchasers resident in all provinces of Canada, 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"). The CMETC FT Shares and the HD Shares issued to Canadian resident subscribers under the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws, with the exception of any CMETC FT and HD Shares issued to insiders that participate in the Offering, which will be subject to a statutory hold period pursuant to the policies of the CSE. Insider participation is expected in the Offering, although the extent and particulars have not been confirmed. Any participation by insiders in the...