Each FT unit consisted of one ordinary share, issued on a flow-through basis (“FT share“) and one-half of one whole warrant for the purchase of common shares, issued on a non-flow-through basis (each whole warrant, one “Deposit“). Each Warrant entitles the holder thereof to acquire one ordinary share in the capital of the Company (each a “Common share“) at a price of $0.10 per ordinary share for a period of two (2) years from the date of issue. The FT shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada), which are also eligible for the Canadian government’s Critical Mineral Exploration Tax Credit. Each Unit consisted of one common share and half of one whole warrant.
The gross proceeds from the Offering will be used for working capital and general corporate purposes. All securities issued under the Offering will be subject to a hold period of four months plus one day from the date of issuance and the resale rules of applicable securities laws.
In connection with the first and second tranches, the Company: (i) paid an aggregate cash commission of $16,042.50; and (ii) a total of 228,308 finder’s warrants issued (each a “Finder’s order“) to certain finders (the “Finders“). Each Finder’s Warrant may be exercised to purchase one additional common share (each a “Finder’s share“) at a price of $0.10 per Finder share for a period of two (2) years from the date of issuance.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities laws, and may not be offered or sold within the United States or to US Persons as defined under applicable US securities laws unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT Anteros Metals Inc.
Anteros Metals Inc. is a Canadian exploration company focused on advancing a pipeline of critical minerals projects in Newfoundland and Labrador and select Canadian jurisdictions. The company focuses on copper, nickel, zinc and emerging strategic raw materials that support the global energy transition. Immediate plans for their flagship Knob Lake Property include bringing the historic Fe-Mn Mineral Resource Estimate to its current status and initiating baseline environmental and feasibility studies.
Cautionary Note Regarding Forward-Looking Information
This press release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. Any information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements contained herein include, but are not limited to, statements regarding the prospects for the development of the Company’s mineral properties and are necessarily based on a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that could cause actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
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