Neotech Metals Announces $1 Million Private Placement
May 14, 2025 4:00 AM EDT | Source: Neotech Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2025) - Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) ("Neotech" or "the Company") is pleased to announce that it intends to complete a non-brokered private placement (the "Offering") , in one or more tranches, of up to 6,666,666 units of the Company (the "Units"), at a price of $0.15 per Unit, for gross proceeds of up to $1,000,000 (the "Offering"). The Company reserves the right to increase the size of the Offering, subject to Canadian Stock Exchange ("CSE") approval.
Each Unit will be comprised of one common share and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one common share (a "Warrant Share") at a price of $0.25 for a period of two years. The Warrants will be subject to an acceleration provision whereby, if for any 10 consecutive trading days following the closing of the Offering, the closing price of the Company's common shares (the "Shares") exceeds $0.40 per Share on the CSE, the Company may announce by way of news release that the expiry date of the warrants will be accelerated to 30 days thereafter.
The Units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue. Finder's fees may be payable to arm's length parties who introduce subscribers to the Company, in accordance with the policies of the CSE.
The Offering is expected to close on or about June 26, 2025. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the CSE.
The Company may pay finder's fees in respect to the Offering.
The Company intends to use the net proceeds from the Offering for exploration expenditures at the Company's projects, as well as corporate and general working capital purposes.
Closing of the Offering is subject to certain customary conditions. The securities to be issued under the Offering will be offered by way of private placement in such provinces or territories of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the Offering will be subject to a statutory hold period which will expire four months and one day from the date of closing of the Offering.
The securities subject to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD
Reagan Glazier, Chief Executive Officer and Director
Neotech Metals Corp.
About the Neotech Metals
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources within promising jurisdictions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.
The company has a diversified portfolio of Rare-Earth Element and Rare Metals projects, including the Hecla-Kilmer, located 20 km from the Otter Rapids 180MW hydroelectric power generation station and active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia. All three projects are 100% wholly-owned.
Qualified Person
Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski VP Exploration, P.Geo., and Qualified Person, has reviewed and approved all of the data and statements made for this news release.
*TREO (Total Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of CeO2+ La2O3+ Pr6O11+ Nd2O3+ Sm2O3+ Eu2O3+ Gd2O3+ Tb4O7+ Dy2O3+ Ho2O3+ Er2O3+ Tm2O3+ Yb2O3+ Lu2O3+ Y2O3.
**PMREO (Permanent Magnet Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of Pr6O11+ Nd2O3+ Tb4O7+ Dy2O3
Forward Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
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