Intrepid Metals Extends Expiry Date of Warrants by 90 Days

Core Viewpoint - Intrepid Metals Corp. is extending the expiry date of 19,046,764 share purchase warrants by 90 days, with the exercise price set at $0.45 per share, subject to TSX Venture Exchange approval [1][2]. Group 1: Warrant Extension Details - The warrants were issued during private placements that closed on January 5, 2024, and January 24, 2024 [1]. - The new expiry dates for the warrants are proposed as follows: 9,499,999 warrants to April 5, 2026, and 9,546,765 warrants to April 24, 2026 [1]. - All other terms and conditions of the warrants will remain unchanged [1]. Group 2: Related Party Transactions - A total of 9,146,567 warrants are held by related parties of the company, making the amendment a "related party transaction" under Multilateral Instrument 61-101 [2]. - The company can rely on exemptions from formal valuation and minority approval requirements as the fair market value of the warrants does not exceed 25% of the company's market capitalization [2]. - The company did not file a material change report more than 21 days before the expected closing of the warrant extension due to expedited decision-making for business reasons [2]. Group 3: Company Overview - Intrepid Metals Corp. is focused on exploring high-grade essential metals such as copper, silver, and zinc in southeastern Arizona, USA [3]. - The company has acquired or has agreements for several drill-ready projects, including the Corral Copper Project and the Tombstone South Project, both located in Cochise County, Arizona [3]. - Intrepid has a team with significant experience in exploration, development, and permitting of new projects in North America [3].