Vancouver, British Columbia–(Newsfile Corp. – March 21, 2024) – Neotec Metals Co., Ltd. (CSE:NTMC) (OTC Pink: NTMFF) (FSE: V690)(“neotech” or “company“) announces that it intends to close up to 2,142,857 flows of non-brokered private placement financing through its units (the “FT Units'') in one or more tranches at a price of $0.70 per transaction. I'm happy to be able to do this. FT Units, gross proceeds up to $1,500,000 (the “Offer”).
Each FT Unit consists of one common share that qualifies as a “flow-through share” as defined in the Income Tax Act (Canada) and one-half of one flow-through common share purchase warrant (such Each Warrant in its entirety is a “Warrant”), and each Warrant entitles the holder to purchase one common share at a price of $0.80 for a period of three years (a “Warrant”).
The holding period for FT Units (including all their underlying securities) is four months and one day from the date of issue. Finder's fees may be paid to independent companies that refer subscribers to us in accordance with the policies of the Canadian Securities Exchange (“CSE”).
The Warrants include an acceleration provision under which, if the closing price of the Company's common stock (the “Shares”) for any 15 consecutive trading days exceeds $1.00 per share on an exchange, the Company will announce through a news release that: Applies. Thereafter, the expiration date of the warrants will be reduced to 30 days.
The net proceeds from the sale of the FT Units will be used for eligible expenditures related to the Company's Canadian mineral properties.
Neotech is also pleased to announce that we have extended our agreement with Financial Star News Inc.FSN“) of 701 West Georgia Street, #1500, Vancouver, BC V7Y 1C6, email info@thefinancialstar.com, will provide marketing services for up to six months starting March 18, 2024. New service periods may be extended or This period may be shortened at management's discretion, depending on the effectiveness of marketing services, etc.
Services provided by FSN include creating campaigns, ad groups, text ads, and display ads; conducting in-depth keyword research; setting up and managing remarketing campaigns; optimizing keyword options; Includes services tailored to your online marketing targets. Create landing pages for advertising campaigns and generally draw attention to your company's business. FSN's promotional activities are carried out through http:///www.theFinancialStar.com landing pages, Google ads and native advertising.
We will pay you a fee of USD 250,000 (+ GST) for continued marketing services. We do not issue securities in consideration for FSN's marketing services. To the best of our knowledge, as of the date hereof, FSN (including its directors and officers) does not own any securities of the Company and has an arm's length relationship with the Company.
Finally, we would like to inform you that we have decided to terminate the option agreement for the Thor project in Nevada, USA. The Company expects that the initial cash payment will be returned to the Treasury beginning in December 2023, and the common stock issued to the option electors will also be returned to the Treasury (see news release dated December 15, 2023).
For more information, please contact us below.
Reagan Glazier, Chief Executive Officer
Email: info@neotechmetals.com
Phone:+1 403-815-6663
About Neotech Metals Corp.
Neotech Metals Corp. is a mineral exploration company dedicated to the discovery and development of valuable mineral resources in prospective regions 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 our exploration properties.
The Company is a Vancouver, British Columbia-based mineral exploration company that owns 100% of the TREO Rare Earth Elements property, located 90 km northeast of Prince George, British Columbia, and the Foote, located in central British Columbia. We own 100% of Hills Rare Earth Element Properties. . The Company also holds options on the EBB Nickel Cobalt property located in British Columbia, Canada.
Forward-looking statements
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information generally refers to forward-looking statements such as “will,” “will,” or variations of such words or phrases, or statements that certain actions, events, or results “will” occur. can be identified by the use of terms related to Forward-looking statements are based on management's opinions and estimates as of the date such statements are made and are subject to known and unknown risks, uncertainties and other forward-looking statements or forward-looking statements. from that expressed or implied by the information regarding. factors that could cause actual results to differ materially. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. The Company will not update any forward-looking statements or forward-looking information incorporated herein by reference, except as required by applicable securities laws.
CSE has not reviewed, approved, or disapproved the contents of this press release.
Not intended for distribution to U.S. newswire services or dissemination within the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202526.
