Culico Metals Inc. Completes Investment into Americas GOLD and Silver Corporation
CULICO METALS INC. COMPLETES
INVESTMENT INTO AMERICAS GOLD AND
SILVER CORPORATION
TORONTO
,
Nov. 12, 2024
/CNW/ - Culico Metals Inc. (TSXV: CLCO) ("
Culico
", or the
"
Corporation
"), a TSXV Sandbox issuer, is pleased to announce a strategic equity investment of
C$4,000,000
(the "
Investment
") into Americas Gold and Silver Corporation ("
AGSC
"), a precious
metals company with two operations: the Galena Complex in
Idaho, USA
and Cosalá in
Sinaloa,
Mexico
.
Culico has invested
C$4,000,000
in exchange for 10,000,000 common shares of AGSC (the
"
Purchased Shares
") at a price of
C$0.40
per Purchased Share. The Purchased Shares are
subject to a four-month plus one day hold period from the date of issuance, and the Investment is
subject to the final acceptance of the TSX Venture Exchange (the "
TSXV
").
Culico is currently listed pursuant to the TSXV Sandbox, and will remain so until, among other things,
Culico has deployed at least
C$4,663,000.00
to at least two qualifying investments that are
satisfactory to the TSXV. Following the completion of the Investment, Culico is now required to
deploy at least
C$663,000
to at least one more qualifying investment prior to
August 14, 2025
.
Investors are advised to read the Corporation's news release dated
August 14, 2024
for more
information regarding the waivers granted in connection with the Corporation's listing, details on the
listing conditions imposed on the Corporation, the exit conditions the Corporation must meet in order
to exit TSXV Sandbox, and any consequences if the Corporation does not meet these exit
conditions.
About Culico Metals Inc.
Culico is a company focused on creating value in the mineral exploration, development and
production sector. Culico's current assets include a 1% lithium royalty on certain mining interests
held by Kali Metals Limited (ASX: KM1) and the right to receive a deferred consideration payment
due to the on-sale of the Dumont project. The Dumont project is a large-scale nickel deposit located
25 km west of the town of
Amos
in the established Abitibi mining camp in the mining-friendly
Canadian province of Québec. Culico holds an interest in the net proceeds from a future sale or
other monetization event involving the Dumont project.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain "forward-looking statements" under applicable Canadian
securities laws concerning the business, operations and financial performance and condition of
Culico. Except for statements of historical fact relating to Culico, all statements included herein are
forward-looking statements. The words "believe", "expect", "strategy", "target", "plan", "scheduled",
"commitment", "opportunities", "guidance", "project", "continue", "on track", "estimate", "growth",
"forecast", "potential", "future", "extend", "planned", "will", "could", "would", "should", "may" and
similar expressions typically identify forward-looking statements. In particular, this news release
contains forward-looking statements including, without limitation, information and statements
regarding: the Investment; the business and operations of Culico and AGSC; the receipt of final
acceptance from the TSXV; and the Corporation's ability to meet all the exit conditions in order to
exit TSXV Sandbox.
Forward-looking statements are necessarily based on the opinions and estimates of management
at the date the statements are made and are based on a number of assumptions and subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements. Many of these
assumptions are based on factors and events that are not within the control of Culico and there is
no assurance they will prove to be correct.
These factors are discussed in greater detail in Culico's TSXV Form 2B – Listing Application, filed
under the Corporation's issuer profile on SEDAR+, which also provides additional general
assumptions in connection with these statements. Culico cautions that the foregoing list of
important factors is not exhaustive. Investors and others who base themselves on forward-looking
statements should carefully consider the above factors as well as the uncertainties they represent
and the risk they entail.
Although Culico has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Culico
undertakes no obligation to update forward-looking statements if circumstances or management's
estimates or opinions should change except as required by applicable securities laws. The reader
is cautioned not to place undue reliance on forward-looking statements. Comparative market
information is as of a date prior to the date of this document. Further, the forward-looking
statements included herein speak only as of the date of this news release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No
stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Investors are advised that the Corporation has been listed on TSXV as a TSXV Sandbox
Listing as the Corporation did not meet all TSXV's listing requirements at the time of listing.
Investors are advised to read the Corporation's news release dated
August 14, 2024
to
review all waivers granted in connection with the Corporation's listing, details on the listing
conditions imposed on the Corporation, the exit conditions the Corporation must meet in
order to exit TSXV Sandbox, and any consequences if the Corporation does not meet these
exit conditions.
There can be no assurance that the Corporation will meet all the Exit
Conditions. For details on TSXV Sandbox, please visit (
https://www.tsx.com/en/listings/tsx-and-tsxv-issuer-resources/tsx-
venture-exchange-issuer-resources/tsxv-sandbox
).
www.culicometals.com
SOURCE
Culico Metals Inc.
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For further information:
For more information contact: Maxim Kouxenko, Manager, Investor
Relations, Phone: 775-386-2468, Culico Metals Inc., Email: [email protected]
CO: Culico Metals Inc.
CNW 08:00e 12-NOV-24