Fitzroy Minerals Provides Update on Ptolemy Acquisition

Core Points - Fitzroy Minerals Inc. is in the process of acquiring Ptolemy Mining Limited through a share exchange agreement dated October 30, 2024 [1] - The deadline for completing the acquisition has been extended to March 31, 2025 [2] - The company received conditional approval from the TSX Venture Exchange for the acquisition, pending the completion of an audit on Ptolemy's financial statements and a non-brokered private placement [3] - The private placement aims to raise between $2.5 million and$3 million by issuing 16,666,666 to 20,000,000 units at a price of $0.15 per unit [3] - Each unit consists of one common share and one-half of a common share purchase warrant, with the full warrant allowing the purchase of one common share at$0.25 for three years [3] - The private placement is fully subscribed, and both the acquisition and the offering are expected to close concurrently in March, subject to certain conditions [4] Company Overview - Fitzroy Minerals focuses on exploring and developing mineral assets in the Americas, with projects including Caballos Copper and Polimet Gold-Copper-Silver in Chile, Taquetren Gold in Argentina, and Cariboo in Canada [6]