Mining
Tuesday, November 14th, 2023 3:06 pm EDT
Key Points
- Non-Brokered Private Placement: Intrepid Metals Corp. has initiated a non-brokered private placement named the “Offering.” The Offering involves a minimum of 12,500,000 and a maximum of 15,600,000 units (the “Units”). Each Unit comprises one common share and one-half of one common share purchase warrant at a price of $0.20 per Unit. The aggregate gross proceeds are expected to range from $2.5 million to $3.12 million. Each full Warrant entitles the holder to acquire an additional common share at a price of $0.30 for eighteen months from the Offering’s closing date.
- Utilization of Proceeds: The net proceeds generated from the Offering will be allocated to exploration expenditures on Intrepid Metals Corp.’s mineral properties and general working capital.
- Corporate Profile and Exploration Focus: Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals, including copper, silver, lead, and zinc mineral projects in southeastern Arizona, USA. The company has acquired or has agreements to acquire several drill-ready projects, such as the Corral Copper Project, Tombstone South Project, and Mesa Well Project, all located in Cochise County, Arizona. The company emphasizes its commitment to exploration, development, and permitting of new projects within North America. Intrepid Metals Corp. is publicly traded on the TSX Venture Exchange (TSXV) under the symbol “INTR” and on the OTCQB Venture Market under the symbol “IMTCF.” Investors are encouraged to access the offering document related to this placement for detailed information. The Offering is being made to purchasers resident in all provinces of Canada, except Quebec, under the Listed Issuer Financing Exemption, and is subject to TSX Venture Exchange approval. Finder’s fees may be applicable according to the policies of the TSX Venture Exchange. The intended closing date for the Offering is around December 1, 2023.
Intrepid Metals Corp.(TSXV:INTR)(OTCQB:IMTCF) (“Intrepid” or the “Company”) announces a non-brokered private placement (the “Offering“) consisting of a minimum of 12,500,000 and up to a maximum of 15,600,000 units (the “Units“), with each Unit consisting of one common share and one-half of one common share purchase warrant (each full common share purchase warrant, a “Warrant“) at a price of $0.20 per Unit for aggregate gross proceeds of a minimum of $2.5 million up to a maximum of $3.12 million. Each full Warrant shall entitle the holder thereof to acquire one additional common share at a price of $0.30 for a period of eighteen (18) months from the closing date of the Offering. The net proceeds will be used for exploration expenditures on the Company’s mineral properties and general working capital.
There is an offering document related to this Offering that can be accessed under the Company’s profile at www.sedarplus.com and at www.intrepidmetals.com. Prospective investors should read this offering document before making an investment decision.
The Offering is being made to purchasers resident in all provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption“). 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 the Offering on or around December 1, 2023. Closing of the Offering is 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 in accordance with the policies of the TSX Venture Exchange.
About Intrepid Metals Corp.
Intrepid Metals Corp. 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 or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018) both of which are located in Cochise County, Arizona and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol “INTR” and on the OTCQB Venture Market under the symbol “IMTCF”. For more information, visit www.intrepidmetals.com.
