Intrepid Metals Announces Closing of Oversubscribed $5 Million Private Placement of Units

Core Points - Intrepid Metals Corp. successfully closed an oversubscribed private placement, raising $5 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 $0.68 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] 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 $19,750 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]