Arbor Metals Provides Update on Private Placement
NEWS RELEASE
ARBOR METALS PROVIDES UPDATE ON PRIVATE PLACEMENT
Vancouver, Canada – December 10th, 2024 – Arbor Metals Corp. (“Arbor” or the “Company”) (TSXV: ABR, FWB: 432) announces that it will conduct a further non-brokered private placement (the “Offering”) and intends to offer 340,000 units (each, an “NFT Unit”) at a price of $0.30 per NFT Unit, 1,316,000 flow-through units (each, a “Na�onal FT Unit”) at a price of $0.38 per Na�onal FT Unit, and 4,350,000 flow-through units (each, a “Québec FT Unit”, and collec�vely with the NFT Units and the Na�onal FT Units, the “Offered Securi�es”) at a price of $0.40 per FT Unit.
The Offering has been fully-subscribed and is expected to result in gross proceeds of $2,342,080 to the Company. Each NFT Unit will consist of one common share of the Company (each a “Unit Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Na�onal FT Unit and Québec FT Unit will consist of one common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one-half of one Warrant. Each whole Warrant will en�tle the holder to purchase one addi�onal common share of the Company (each, a “Warrant Share”) at a price of $0.55 for a period of twelve months.
The net proceeds raised from the Offering will be used for the further advancement of the Jarnet Lithium Project and for working capital purposes. Proceeds from the sale of the Na�onal FT Units and the Québec FT Units will be used to incur “Canadian explora�on expenses” as defined in subsec�on 66.1(6) of the Income Tax Act and “flow through mining expenditures” as defined in subsec�on 127(9) of the Income Tax Act, with the proceeds from the sale of the Na�onal FT Units expected to be directed towards the advancement of the Kemlee Lake Lithium Project, and the proceeds from the sale of the Québec FT Units directed towards the Jarnet Lithium Project. Such proceeds will be renounced to the purchasers of the Na�onal FT Units and the Québec FT Units with an effec�ve date not later than December 31, 2024, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of the Na�onal FT Units and the Québec FT Units.
In connec�on with closing of the Offering, the Company intends to pay finders’ fees to certain arms-length par�es, including GloRes Securi�es Inc., who have assisted in introducing subscribers to the Offering. All securi�es issued in connec�on with the Offering will be subject to restric�ons on resale for a period of four-months-and-one-day in accordance with applicable securi�es laws.
The Company previous completed a non-brokered private placement in two tranches on October 31, 2024 and November 8, 2024, in which it issued a total of 885,000 non-flow-through units (each, an “Ini�al NFT Unit”) and 5,707,824 flow-through units (each, an “Ini�al FT Unit”) for gross proceeds of $2,935,349. Each Ini�al NFT unit was offered at a price of $0.35 and consisted of one common share of the Company and one common share purchase warrant (each, an “Ini�al Warrant”). Each Ini�al FT unit was offered at a price of $0.46 and consisted of one common share of the Company issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one Ini�al Warrant. Each whole Ini�al Warrant en�tled the holder to purchase one addi�onal common share of the Company at a price of $0.60 for a period of twelve months.
For further informa�on regarding the previous non-brokered private placement, readers are encouraged to review the news releases issued by the Company on October 28, October 31 and November 8, 2024, copies of which are available under the profile for the Company on SEDAR+ (www.sedarplus.ca).
This news release shall not cons�tute an offer to sell or the solicita�on of an offer to buy the Offered Securi�es, nor shall there be any sale of the Offered Securi�es in any jurisdic�on in which such offer, solicita�on or sale would be unlawful prior to the registra�on or qualifica�on under the securi�es laws of any such jurisdic�on. The Offered Securi�es being offered will not be, and have not been, registered under the United States Securi�es Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.
About Arbor Metals Corp.
Arbor Metals Corp. is a mining explora�on company focused on developing high-value, geographically significant mineral projects worldwide. Arbor is paving the way for advanced mineral explora�on as it oversees world-class mining projects. The Company is confident that combining quality projects with proven strategies and a dedicated team will yield excep�onal outcomes.
For further informa�on, contact Mark Ferguson, Chief Execu�ve Officer, at [email protected], or 403.852.4869, or visit the Company’s website at www.arbormetalscorp.com.
On behalf of the Board,
Arbor Metals Corp.
Mark Ferguson, Chief Execu�ve Officer
Neither the TSX Venture Exchange nor its Regula�on Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securi�es Li�ga�on Reform Act of 1995 and applicable Canadian securi�es laws. When or if used in this news release, the words “an�cipate”, “believe”, “es�mate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions iden�fy forward-looking statements or informa�on. These forward-looking statements or informa�on may relate to further explora�on of the Jarnet Lithium Project and the Kemlee Lake Lithium Project, the intended use of proceeds from the Offering, and other factors or informa�on. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assump�ons and es�mates that, while considered reasonable by the Company, are inherently subject to significant business, economic, compe��ve, poli�cal and social risks, con�ngencies and uncertain�es. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obliga�on, to update these forward-looking statements or informa�on to reflect changes in assump�ons or changes in circumstances or any other events affec�ng such statements and informa�on other than as required by applicable laws, rules and regula�ons.