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Transition Metals Corp. (TSXV: XTM) has completed its previously announced non-brokered private placement, raising $299,999.85 through the issuance of 3,999,998 Critical Flow Through Shares at $0.075 per share. The company paid finders’ fees of $18,000 to Mine Equities and Castlewood Capital , along with 160,000 compensation warrants to Castlewood. The warrants allow purchase of common shares at $0.10 for 18 months. Proceeds will fund exploration of critical minerals properties in Ontario and Yukon. Securities are subject to a four-month resale restriction until March 26, 2025.
Transition Metals Corp. (TSXV: XTM) ha completato il precedente collocamento privato non mediato, raccogliendo $299.999,85 tramite l’emissione di 3.999.998 Azioni Critical Flow Through a $0,075 per azione. L’azienda ha pagato commissioni di ricerca di $18.000 a Mine Equities e Castlewood Capital, insieme a 160.000 warrant di compenso a Castlewood. I warrant consentono l’acquisto di azioni ordinarie a $0,10 per un periodo di 18 mesi. I proventi finanzieranno l’esplorazione di proprietà minerarie critiche in Ontario e Yukon. I titoli sono soggetti a una restrizione di rivendita di quattro mesi fino al 26 marzo 2025.
Transition Metals Corp. (TSXV: XTM) ha completado su colocación privada no mediada previamente anunciada, recaudando $299,999.85 a través de la emisión de 3,999,998 Acciones Critical Flow Through a $0.075 por acción. La empresa pagó comisiones de búsqueda de $18,000 a Mine Equities y Castlewood Capital, junto con 160,000 opciones de compensación a Castlewood. Las opciones permiten la compra de acciones comunes a $0.10 durante 18 meses. Los ingresos financiarán la exploración de propiedades de minerales críticos en Ontario y Yukon. Los valores están sujetos a una restricción de reventa de cuatro meses hasta el 26 de marzo de 2025.
Transition Metals Corp. (TSXV: XTM)은 이전에 발표된 비중개 개인 배치를 완료하여 $299,999.85를 모집하였으며, 이는 3,999,998개의 Critical Flow Through Shares를 $0.075에 발행한 결과입니다. 회사는 Mine Equities와 Castlewood Capital에 $18,000의 소개 수수료를 지급하였으며, Castlewood에는 160,000개의 보상 워런트를 제공하였습니다. 이 워런트는 18개월 동안 $0.10에 보통주를 구매할 수 있게 해 줍니다. 수익금은 온타리오와 유콘의 주요 광물 속성 탐사를 위한 자금으로 사용됩니다. 증권은 2025년 3월 26일까지의 4개월 재판매 제한이 있습니다.
Transition Metals Corp. (TSXV: XTM) a finalisé son placement privé non médié par les courtiers, en levant $299,999.85 grâce à l’émission de 3,999,998 Actions Critical Flow Through à $0.075 par action. La société a versé des frais de recherche de $18,000 à Mine Equities et Castlewood Capital, ainsi que 160,000 bons de souscription de compensation à Castlewood. Les bons permettent l’achat d’actions ordinaires à $0.10 pendant 18 mois. Les recettes financeront l’exploration de propriétés de minéraux critiques en Ontario et au Yukon. Les titres sont soumis à une restriction de revente de quatre mois jusqu’au 26 mars 2025.
Transition Metals Corp. (TSXV: XTM) hat die zuvor angekündigte nicht vermittelte Privatplatzierung abgeschlossen und $299.999,85 durch die Ausgabe von 3.999.998 Critical Flow Through Shares zu einem Preis von $0,075 pro Aktie gesammelt. Das Unternehmen hat Vermittlungsgebühren in Höhe von $18.000 an Mine Equities und Castlewood Capital gezahlt, sowie 160.000 Entschädigungswarrants an Castlewood vergeben. Die Warrants erlauben den Kauf von Stammaktien zu $0,10 für 18 Monate. Die Erlöse werden die Exploration kritischer mineralischer Liegenschaften in Ontario und Yukon finanzieren. Die Wertpapiere unterliegen einer viermonatigen Verkaufsbeschränkung bis zum 26. März 2025.
Positive
- Successfully raised $299,999.85 through private placement
- Funds secured for exploration of critical minerals properties in Ontario and Yukon
Negative
- 6% finder’s fee and compensation warrants represent additional costs
- Share dilution through issuance of 3,999,998 new shares
Sudbury, Ontario–(Newsfile Corp. – November 25, 2024) – Transition Metals Corp. (TSXV: XTM) (“Transition” or the “Company”) is pleased to announce that it has closed its previously announced non brokered private placement (the “Offering“), (see news release dated November 20, 2024). The Offering consisted of 3,999,998 Critical Flow Through Shares (the “CFT Shares“) at a price of $0.075 per CFT Share for proceeds of $299,999.85.
A finder’s fee was paid in connection with the Offering to finders that included Mine Equities Ltd. and Castlewood Capital Corporation (“Castlewood”) (together, the “Finders“), that consisted of a cash fee in the aggregate of $18,000, representing an aggregate commission of 6% of the CFT Shares sold to investors introduced by the Finders. In addition, a total of 160,000 compensation warrants (“Compensation Warrants“) were issued to Castlewood representing 6% of the CFT Shares sold to the investor introduced by Castlewood. The Compensation Warrants permit Castlewood to purchase of one common share (“Common Share“) in the capital of the Company at a price of $0.10 per Common Share for a period of 18 months from closing of the Offering.
Proceeds from the Offering will be used to explore and advance critical minerals properties in Ontario (Saturday Night PGM) and the Yukon (Pike Warden Au-Ag-Cu). All securities issued in connection with the Offering, including any Common Shares issued upon exercise of the Compensation Warrants, are subject to a four-month restricted resale period that expires on March 26, 2025, and subject to all necessary approvals, including the approval of the TSX Venture Exchange.
About Transition Metals Corp
Transition Metals Corp (TSXV: XTM) is a Canadian-based, multi-commodity explorer. The award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulations, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Further information is available at www.transitionmetalscorp.com or by contacting:
Neither the 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 release.
THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231351
FAQ
How much did Transition Metals Corp (TSXV: XTM) raise in its November 2024 private placement?
Transition Metals Corp raised $299,999.85 through the issuance of 3,999,998 Critical Flow Through Shares at $0.075 per share.
What are the terms of the compensation warrants issued by Transition Metals Corp in November 2024?
The compensation warrants allow Castlewood to purchase common shares at $0.10 per share for a period of 18 months from the closing of the offering.
What is the restricted resale period for the securities issued in Transition Metals’ November 2024 private placement?
The securities have a four-month restricted resale period that expires on March 26, 2025.
