Supreme Metals Announces Closing of Non-Brokered Private Placement and Finalizes Acquisition of Sol Sureno
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Sudbury, Ontario P3C 2P4
Tel: 705 690-8118
Supreme Metals Announces Closing of Non-Brokered Private
Placement and Finalizes Acquisition of Sol Sureno
Sudbury, Ontario, July 10, 2020 – Supreme Metals Corp. (“Supreme” or the “Company”) (CSE:
ABJ) (FSE:A68) today announced that it has closed a non-brokered private placement of units
(“Units”) for aggregate proceeds of $3,253,550 (the “Offering”). The Company sold an aggregate
of 21,690,332 Units pursuant to the Offering. Each Unit was issued at a price of CAD$0. 15 and
comprised of one common share of the Company (each a “ Common Share”) and one common
share purchase warrant (each a “Warrant”). Each Warrant is exercisable to acquire one Common
Share of the Company for a period of 36 months following the closing date at an exercise price of
CAD$0.30 per Common Share (the "Exercise Price").
The Company intends to use the net proceeds from the Offering to advance its exploration
projects and for working capital purposes. The Units have been issued on a private placement
basis pursuant to applicable exemptions from p rospectus requirements under applicable
securities laws. All securities issued or issuable pursuant to the Offering are subject to a hold
period of four months and one day.
Additionally, the Company today announced that, further to its press release date May 14, 2020,
it has closed the acquisition (the “Acquisition”) of 100 per cent of the issued and outstanding
shares of Sol Sureno Canada Inc . (“ Sol Sureno”), an Ontario based exploration corporation
focused on the acquisition and development of lithium properties in Peru. Pursuant to the
Acquisition, the Company issued 15,000,000 common shares to the shareholders of Sol Sureno
in exchange for all of the issued and outstanding shares of Sol Sureno.
Sol Sureno, via its wholly-owned subsidiary, Sol Sureño Sociedad Anonima Cerrada (Sol Sureño
S.A.C.) (“Sol Sureno Peru”) a corporation formed under the laws of Peru , holds 22 registered
mining concessions totalling 19,200 hectares (Ha) and another 10 mining concessions of 7,000
Ha still pending registration (the “Macusani Project”). The Macusani Project is located 120 km
southeast of the Macusani Plateau in the Crucero -Picotani Plateau area which hosts known
lithium occurrences in the same rhyolitic tuff formations as the lithium bearing formations within
the Macusani Plateau.
The Company paid a finder’s fee of 1,500,000 Common Shares to arm’s length parties in
connection with the Acquisition.
About the Macusani Project
The Macusani Project is comprised of 22 registered mining concessions totalling 19,200 hectares
(Ha) and 10 pending mining concessions totalling 7,000 Ha . located in two areas. Sol Sureno’s
concessions in the Macusani area are adjacent to or within the Macusani Concessions of Plateau
Energy Metals Inc. and within a n 8 to 25 km radius of the original Falchani Lithium Discovery.
The Crucero-Picotani Plateau area is located 120 km so utheast of the Macusani Plateau and
hosts known lithium occurrences in the same rhyolitic tuff formations as the lithium bearing
formations within the Macusani Plateau.
The geology of the Macusani Crucero-Picotani Plateau and surrounding area is unique in that it
contains some of the world’s most highly evolved rhyolitic peralkaline rocks, bot h intrusive and
extrusive. Such rocks have anomalous accumulation of tin, tungsten, beryllium, rubidium and
lithium. At this time lithium exploration has been focused on several flat lying horizons within the
Chacaconiza member of the Quenamari Formation of rhyolitic tuff but the presence of lithium in
both rhyolitic intrusive and pegmatite rocks has not been thoroughly examined. Most of Sol
Sureno’s concessions overly the outcropping Chacsconiza member.
On Behalf of the Board,
“Bob Komarechka”
CEO
About Supreme Metals Corp.
Supreme Metals Corp. (CSE: ABJ)(FSE:A68) is a Canadian based exploration company with a
focused approach in the area of green and energy metals in the Western World adjacent to
anticipated downstream manufacturing projects that will have a significant need for these metals.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of
the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward -looking statements based on assumptions and judgments of management
regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could
cause actual events or re sults to differ materially from those reflected in the forward -looking statements. There is no
assurance the private placement , property option, change of board or reinstatement of trading referred to above will
close on the terms as stated, or at all. T he Company disclaims any intention or obligation to revise or update such
statements.