Silicon Metals Corp. Issues First Aggregate Permit Option Shares and Makes Initial Cash Payment
July 21, 2025 7:05 PM EDT | Source: Silicon Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") announces that, further to its news release dated July 15, 2025, it has issued 500,000 common shares (each, a "Share") to Geotek Exploration and Prospecting Ltd. (the "Optionor") at a deemed price of $0.055 per Share, and made an initial cash payment of $25,000, pursuant to the Company's recently announced option (the "Option") to purchase an undivided 100% right, title and interest in Aggregate Permit AP6453 (the "Permit") located in the world class Sudbury Mining District of Ontario, Canada.
The balance of the payments to be made under the Option are as follows:
Pay the Optionor $25,000 in cash within fifteen (15) business days from the Effective date of the agreement
On or before twelve (12) months following the CSE approval date, issue the Optionor 1,500,000 common shares
On or before eighteen (18) months following the CSE approval date, issue the Optionor 1,500,000 common shares
All securities issued in connection with the Option will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 – Resale of Securities.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided 100% right, title and interest in the Ptarmigan Silica Project located approximately 130km from Prince George, British Columbia. The Company has also acquired an option to purchase an undivided 100% right, title, and interest in both the Silica Ridge Silica Project located approximately 70kms southeast from the town of MacKenzie, British Columbia, as well as the Longworth Silica Project located approximately 85km East from Prince George, British Columbia. Silicon has also signed a Definitive Option Agreement to earn a 100% interest in the Sudbury District of Ontario based Aggregate Permit 6453 and signed a Definitive Purchase Agreement to acquire five (5) mining claims encompassing the permit itself.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, development and plans for the Permit, the issuance of the Shares to the Optionor and regulatory approvals thereof.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its plans for the development of the Permit, that the Company will receive regulatory approval for the issuance of Shares to the Optionor, and that the Company will have all the necessary resources, including personnel and capital to carry out its business plans.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company may not be able to develop the Permit as anticipated, that the Company may not receive regulatory approval for the issuance of the Shares to the Optionor, that the Company will be unable to carry out its business plans as disclosed; changes in applicable legislation impacting the Company's exploration plans; unanticipated costs; loss of key personnel; failure to raise the capital required to carry out the Company's business plans.
Although management of the Company has 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. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259529
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