Latin Metals Inc. (
“Latin Metals”
or the
“Company”) -
(TSXV: LMS)
(OTCQB: LMSQF) announces that due to investor
interest in its non-brokered private placement (the “Financing”)
announced on September 10, 2021, it is upsizing the Financing
to raise total gross proceeds of up to $1.3 million. The Financing
will consist of up to 8,666,667 units in the capital of the Company
(each, a “Unit”) at a subscription price of $0.15 per Unit.
Each Unit will consist of one common share in the capital of Latin
Metals (each, a “Share”) and one-half of one common share
purchase warrant, with each whole warrant entitling the holder
thereof to purchase one Share at a price of $0.25 per Share
for a period of 24 months from the closing of the Financing.
The proceeds of the
Financing are intended to fund ongoing exploration at the Company’s
mineral projects in Argentina and Peru and for general working
capital.
The Company may pay
finder’s fees on all or a portion of the Financing, consisting of a
cash commission equal to 7% of the total gross proceeds raised and
finder’s warrants equal to 7% of the total number of Units issued,
where each finder’s warrant will entitle the holder thereof to
purchase one Share at a price of $0.15 per Share for a period of 12
months from the closing of the Financing.
All securities issued
in connection with the Financing will be subject to a hold period
of four-months and one day in Canada. The Financing is subject to
the receipt of all necessary approvals including the final
acceptance for filing of the Financing with the TSX Venture
Exchange and any applicable securities regulatory authorities.
There is no material fact or material change regarding Latin Metals
that has not been generally disclosed.
This news release does
not constitute an offer of sale of any of the foregoing securities
in the United States. None of the foregoing securities have been
and will not be registered under the U.S. Securities Act of 1933,
as amended (the “1933 Act”) or any applicable state securities laws
and may not be offered or sold in the United States or to, or for
the account or benefit of, U.S. persons (as defined in
Regulation S under the 1933 Act) or persons in the United
States absent registration or an applicable exemption from such
registration requirements. This news release does not constitute an
offer to sell or the solicitation of an offer to buy nor will there
be any sale of the foregoing securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Latin
Metals
Latin Metals is a
mineral exploration company acquiring a diversified portfolio of
assets in South America. The Company operates with a Prospect
Generator model focusing on the acquisition of prospective
exploration properties at minimum cost, completing initial
evaluation through cost-effective exploration to establish drill
targets, and ultimately securing joint venture partners to fund
drilling and advanced exploration. Shareholders gain exposure to
the upside of a significant discovery without the dilution
associated with funding the highest-risk drill-based exploration.
On Behalf of the Board
of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are
referred to the Company’s web site (www.latin-metals.com) and its
Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Suite 890999 West Hastings StreetVancouver, BC, V6C 2W2
Phone: 604-638-3456E-mail: info@latin-metals.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Note Regarding Forward-Looking
Statements
This news release
includes certain forward-looking information (collectively,
“forward-looking statements”) within the meaning of applicable
Canadian and U.S. securities legislation, including the United
States Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included
herein including, without limitation, statements regarding the
amount and use of proceeds from the Financing, the payment of
finder’s fees, and the anticipated business plans and timing of
future activities of the Company, are forward-looking statements.
Although the Company believes that such statements are reasonable,
it can give no assurance that such expectations will prove to be
correct. Often, but not always, forward looking statements can be
identified by words such as “pro forma”, “plans”, “expects”, “may”,
“should”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, “believes”, “potential” or variations of
such words including negative variations thereof, and phrases that
refer to certain actions, events or results that may, could, would,
might or will occur or be taken or achieved. In making the
forward-looking statements in this news release, the Company has
applied several material assumptions, including without limitation,
that costs will remain stable over the relevant period, that market
fundamentals will result in sustained precious metals demand and
prices, the receipt of any necessary permits, licenses and
regulatory approvals in connection with the future development of
the Company’s projects in a timely manner, the completion of the
Financing, construction and continued operation of the Company’s
projects, and the Company’s ability to comply with environmental,
health and safety laws.
Forward-looking
information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking information. Such risks and other factors
include, among others, operating and technical difficulties in
connection with mineral exploration and development and mine
development activities for the Project, estimation or realization
of mineral reserves and mineral resources, the timing and amount of
estimated future production, costs of production, capital
expenditures, the costs and timing of the development of new
deposits, the availability of a sufficient supply of water and
other materials, requirements for additional capital to fund the
Company’s business plan, future prices of precious metals, changes
in general economic conditions, changes in the financial markets
and in the demand and market price for commodities, possible
variations in ore grade or recovery rates, possible failures of
plants, equipment or processes to operate as anticipated,
accidents, labour disputes and other risks of the mining industry,
the inability to or delay in obtaining governmental and regulatory
approvals (including of the TSX Venture Exchange for the
Financing), permits or financing or in the completion of
development or construction activities, changes in laws,
regulations and policies affecting mining operations, hedging
practices, currency fluctuations, title disputes or claims
limitations on insurance coverage and the timing and possible
outcome of pending litigation, environmental issues and
liabilities, risks related to joint venture operations, and risks
related to the integration of acquisitions, as well as those
factors discussed under the heading. “Risk Factors” in the
Company’s annual management’s discussion and analysis and other
filings of the Company with the Canadian Securities Authorities,
copies of which can be found under the Company’s profile on the
SEDAR website at www.sedar.com.
Readers are cautioned
not to place undue reliance on forward looking information.
The Company undertakes no obligation to update any of the
forward-looking information in this news release or incorporated by
reference herein, except as otherwise required by law.
Latin Metals (TSXV:LMS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Latin Metals (TSXV:LMS)
Historical Stock Chart
From Jul 2023 to Jul 2024