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Intrepid Metals Announces Closing of Oversubscribed $5 Million Private Placement of Units
INTRInter & Co(INTR) Newsfile·2025-03-31 11:00

Core Points - Intrepid Metals Corp. successfully closed an oversubscribed private placement, raising 5millionthroughtheissuanceof10,204,080unitsatapriceof5 million through the issuance of 10,204,080 units at a price of 0.49 per unit [1] - Each unit consists of one common share and one-half of a common share purchase warrant, with full warrants allowing the purchase of additional shares at 0.68untilMarch28,2027[1]−Thenetproceedsfromtheofferingwillbeallocatedforexplorationexpendituresonmineralproperties,includingdrillingattheCorralCopperProject,andforgeneralworkingcapital[1]OfferingDetails−TheofferingwasmadetopurchasersinallCanadianprovincesexceptQuebec,utilizingtheListedIssuerFinancingExemption,whichallowsfornoresalerestrictions[3]−Finder′sfeesof60.68 until March 28, 2027 [1] - The net proceeds from the offering will be allocated for exploration expenditures on mineral properties, including drilling at the Corral Copper Project, and for general working capital [1] Offering Details - The offering was made to purchasers in all Canadian provinces except Quebec, utilizing the Listed Issuer Financing Exemption, which allows for no resale restrictions [3] - Finder's fees of 6% in cash and 6% in finder warrants were paid on certain subscriptions, totaling 209,240.95 in cash and 424,573 finder warrants issued [4] - Related parties, including certain directors, participated in the offering, acquiring 537,041 units for total gross proceeds of 263,150.09[5]AdditionalAgreements−TheTSXVentureExchangeapprovedanamendmenttothesharepurchaseagreementwithCaveCreekCopperInc.,extendingcashpaymentsof263,150.09 [5] Additional Agreements - The TSX Venture Exchange approved an amendment to the share purchase agreement with Cave Creek Copper Inc., extending cash payments of 395,000 to August 31, 2025, with an increase of 19,750incashpayments[7]−Inconnectionwiththeamendment,38,725commonsharesand220,000warrantswereissuedtoCaveCreekshareholders,withwarrantsexercisableuntilMarch28,2026,atanexercisepriceof19,750 in cash payments [7] - In connection with the amendment, 38,725 common shares and 220,000 warrants were issued to Cave Creek shareholders, with warrants exercisable until March 28, 2026, at an exercise price of 0.51 [7] Company Overview - Intrepid Metals Corp. focuses on exploring high-grade essential metals such as copper, silver, and zinc in southeastern Arizona, USA [8] - The company has several drill-ready projects, including the Corral Copper Project and the Tombstone South Project, which are located in established mining jurisdictions [8] - Intrepid is traded on the TSX Venture Exchange under the symbol "INTR" and on the OTCQB under "IMTCF" [8]