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Silicon Metals Corp. Announces Amendment to Previously Announced Private Placement of up to $800,000
Newsfile· 2025-07-16 01:30
Core Viewpoint - Silicon Metals Corp. has amended the terms of its previously announced private placement, aiming to raise up to $800,000 through the issuance of non-flow-through units priced at $0.05 each [1][2]. Group 1: Offering Details - The Company plans to issue up to 16,000,000 non-flow-through units, each consisting of one common share and one half of a common non-flow-through share purchase warrant [2]. - Each whole non-flow-through warrant will allow the holder to purchase a common share at an exercise price of $0.055 for a period of 24 months [2]. - An accelerator provision is included, allowing the Company to accelerate the expiry date of the warrants if the common shares close at $0.15 or higher for ten consecutive trading days [2]. Group 2: Use of Proceeds - The proceeds from the Offering will be used for the advancement and development of the Company's properties and for general working capital purposes [3]. Group 3: Company Overview - Silicon Metals Corp. is focused on exploration in western Canada, particularly in British Columbia, holding a 100% interest in the Ptarmigan Silica Project and options for additional silica projects [5].
Silicon Metals Corp. Signs a Definitive Option to Acquire 100% Ownership of Sudbury District Based Aggregate Permit, Acquires Encompassing Mineral Claims and Announces Private Placement of up to $800,000
Newsfile· 2025-07-15 08:30
Core Viewpoint - Silicon Metals Corp. has signed definitive agreements to acquire 100% ownership of an Aggregate Permit and surrounding mineral claims in the Sudbury District of Ontario, along with plans for a private placement to raise up to $800,000 [1][3]. Acquisition Details - The company has entered into two definitive agreements with separate vendors to acquire an Aggregate Permit AP6453 and five mining claims covering quartz-rich pegmatite mineralization [1][5]. - The active Aggregate Permit allows for the extraction of high purity quartz material through quarrying, covering an area of 6.77 hectares with an initial extraction capacity of 3,000 tonnes per year [6]. Financial Aspects - The company plans to complete a private placement of up to 16,000,000 non-flow-through units at a price of $0.05 per unit, aiming for gross proceeds of up to $800,000 [10][11]. - Proceeds from the offering will be used for the advancement and development of the Permit and surrounding claims, as well as for general working capital [11]. Share Issuance Terms - Silicon Metals is required to make several cash payments and issue common shares to the optionor as part of the acquisition agreements, including $25,000 in cash and 500,000 common shares upon CSE approval [7][8]. - Additional share issuances of 1,500,000 common shares are required at specified intervals following CSE approval [7]. Project Updates - The company has received LiDAR data for the Ptarmigan Project and is currently conducting internal analysis and modeling [9]. Company Background - Silicon Metals Corp. is focused on exploration in western Canada, holding interests in multiple silica projects, including the newly acquired Aggregate Permit in Ontario [15].
Jo-Jo Capital Signs Letter of Intent With Placements Appalache Limitée to Acquire Up to a 100% Interest in the Baie-Johan-Beetz Project
Globenewswire· 2025-05-01 02:29
Core Viewpoint - Jo-Jo Capital Canada Ltd. has entered into a non-binding letter of intent with Placements Appalache Limitée to pursue a business combination transaction, which is expected to result in PAL shareholders holding a majority of Jo-Jo's voting securities [1][2]. Company Overview - Jo-Jo Capital Canada Ltd. is a capital pool company focused on identifying and evaluating qualifying transactions under the policies of the TSX Venture Exchange [13]. - Placements Appalache Limitée has over 50 years of experience in the Canadian silica mining industry and holds exclusive mining rights to high-purity quartz deposits in Baie-Johan-Beetz, Quebec [3][12]. Transaction Details - The transaction will be structured as a reverse takeover, with PAL shareholders exchanging their securities for those of Jo-Jo [5]. - The transaction is anticipated to be completed through an amalgamation, plan of arrangement, or share exchange, subject to regulatory approvals [5][8]. - A private placement financing by PAL is expected to raise between C$3,000,000 and C$6,000,000 prior to or concurrent with the closing of the transaction [5]. Mining Rights and Resources - PAL's high-purity silica deposit spans 54.22 hectares and is located less than 800 meters from the main road, with additional unexplored claims of 383.24 hectares [3]. - High-purity silica is designated as a critical mineral in Canada and is essential for various advanced technologies, including solar panels and semiconductors [4]. Regulatory and Approval Process - Completion of the transaction is subject to conditions including Exchange acceptance, shareholder approval, and satisfactory due diligence investigations [8][10]. - Jo-Jo is required to maintain a minimum bank account balance of $100,000 at closing and may need to retain a sponsor for the transaction [10]. Future Structure - Following the transaction, the board of directors of the resulting issuer will initially consist of three to five directors appointed by PAL [10].