Intrepid Metals Corp. (TSXV: INTR | OTCQB: IMTCF) has announced a non-brokered private placement consisting of a minimum of 12.5M and a maximum of 15.6M units, with each unit consisting of one share and half of one share purchase warrant at C$0.20 each for gross proceeds of C$2.5M-C$3.12M.
Each full warrant shall entitle the holder thereof to acquire one additional share at C$0.30 for 18 months from the closing date. The net proceeds will be used for exploration expenditures on the company’s mineral properties and general working capital.
The offering is being made to purchasers’ resident in all provinces of Canada, except Quebec. Pursuant to the limitations of the listed issuer financing exemption, the units offered under the listed issuer financing exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.
Intrepid intends to close on or around 1 December 2023 with closing subject to approval of the TSX Venture Exchange. Finder’s fees of 7% in cash and 7% in finder warrants, which terms will be the same as the warrants, may be paid on a portion of the offering.
Intrepid Metals is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, lead, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA.
The company has acquired/has agreements to acquire several drill ready projects, including the Corral Copper Project, the Tombstone South Project, and the Mesa Well Project. Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America.
For further information, please visit: www.intrepidmetals.com
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