Intrepid Metals Corp. (TSXV: INTR,OTC:IMTCF) (OTCQB: IMTCF) (“Intrepid” or the “Company”) announces a non-brokered private placement (the “Offering”) consisting of up to 17,142,857 units (the “Units”), each unit consisting of one common share and one-half of one common stock purchase warrant (each full common stock purchase warrant, a “Warrant”) at a price of $0.35 per unit for total gross proceeds of $6 million. Each full Warrant entitles the holder thereof to acquire one additional common share at a price of $0.50 for a period of twenty-four (24) months from the closing date of the Offering. All securities issued in connection with the Offering will be subject to a hold period of four months from the date of issuance.
The net proceeds from the Offering will be used for exploration expenses, working capital, real estate payments and a bridge to the completion of a strategic partnership transaction.
Finder’s fees of 6% in cash and 6% in non-transferable finder warrants, exercisable at a price of $0.35 for a period of twenty-four (24) months from the closing date of the Offering, may be payable on a portion of the Offering in accordance with the policies of the TSX Venture Exchange.
Intrepid intends to close the Offering on or about October 24, 2025, or on such date as the Company may determine. The closing of the offering is subject to the approval of the TSX Venture Exchange.
This press release does not constitute an offer to sell securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Intrepid Metals Corp.
Intrepid Metals Corp. is a Canadian company focused on the exploration of high-value essential metals such as copper, silver and zinc mineral projects located in close 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 (an advanced district-level exploration and development opportunity with significant shallow historical drilling results), the Tombstone South Project (within the historic Tombstone mining district with geological similarities to the Taylor Deposit, which was completed in 2018 for $1.3 billion purchased).1although the mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project), 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 significant experience exploring, developing and permitting new projects in North America. Intrepid trades 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.
Intrepid Metal Corp.
On behalf of the company
“Mark Morabito”
Chairman & CEO
Comments
1 Details on the sale of the Taylor Deposit can be found in the October 8, 2018 South32 news story (South32 completes its acquisition of Arizona Mining).
Cautionary Note Regarding Forward-Looking Information
Certain statements in this press release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to the completion of the Offering or any part thereof; the number of securities to be issued in the context of the Offering and the gross proceeds received; the timing of the closing of the Offering; the payment of any finder’s fees and the form thereof; and the use of the net proceeds from the Offering.
In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “scheduled”, “estimates”, “predicts”, “intends”, “anticipates” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “might”, “could”, “could”, “occur” or “could” be’, which suggests future results, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions regarding, among other things, the ability of the Company to obtain additional financing to continue its operations; the Company receives TSXV approval for the Offering; the results of exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labor and materials, receipt and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage and assumptions regarding currency fluctuations, environmental risks, ownership disputes or claims and other similar matters. Although the Company believes these assumptions to be reasonable based on the information currently available, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks related to the ability to access infrastructure, risks related to inability to access financing, failure to obtain TSXV approval for the Offering, risks related to changes in commodity prices, risks related to unexpected geological or structural formations and characteristics, risks related to current global financial conditions, risks related to current global financial conditions and the impact of a future global pandemic on the company’s operations, dependence on key personnel, operational risks inherent in the conduct of exploration and development activities, including the risk of accidents, labor disputes and collapses, regulatory risks, including the risk that permits cannot be issued in a timely manner or at all acquired, financing, capitalization and liquidity risks, risks related to disputes over ownership titles and interests, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
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