Defense Metals Announces Share-Based Interest Payment
Defense Metals Announces Share-Based Interest
Payment
VANCOUVER, BC
,
Jan. 13, 2025
/CNW/ -
Defense Metals Corp.
("
Defense Metals
" or the "
Company
"; (TSXV:
DEFN) (OTCQB: DFMTF) (FSE: 35D) announces that it will issue 491,807 shares of common stock of the Company
(the "Interest Shares") to certain holders of secured convertible notes (the "Notes") in full satisfaction of the interest
payable thereunder as of
January 11, 2025
in the aggregate amount of
C$100,821.92
(the "Interest Payment"). The
Notes mature on
October 11, 2025
. Additional details regarding the Notes can be found in the Company's news
releases dated
October 11, 2024
, which is available under the Company's profile on SEDAR+ at
www.sedarplus.ca
.
In accordance with the terms of the Notes, the Company will issue the Interest Shares at a price of
C$0.205
per
Interest Share being the greater of (i) the volume-weighted average trading price per Share on the TSX Venture
Exchange ("TSXV") for the 20 consecutive trading days ending on the applicable Pricing Date, and (ii) the lowest price
permitted under the policies of the TSXV.
The issuance of the Interest Shares is subject to the approval of the TSXV. Once issued, the Interest Shares will be
subject to a four-month and one-day hold period in accordance with applicable Canadian securities laws.
About Defense Metals Corp. and its Wicheeda Rare Earth Element Project
Defense Metals Corp. is focused on the development of its 100% owned, 11,800-hectare (~29,158-acre) Wicheeda
REE Project that is located on the traditional territory of the McLeod Lake Indian Band in
British Columbia, Canada
.
The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of
Prince George
, is readily
accessible by a paved highway and all-weather gravel roads and is close to infrastructure, including hydro power
transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to
the port facilities at
Prince Rupert
, the closest major North American port to
Asia
.
For further information, please visit
www.defensemetals.com
or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains "forward
looking information or statements" within the meaning of applicable securities
laws, which may include, without limitation, any statements (expressed or implied) relating to: advancing the Wicheeda
Project, the issuance of the Interest Shares and other matters. Forward-looking statements are typically identified by
words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue,"
"could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but
the absence of these words does not mean that a statement is not forward-looking. All statements in this news
release, other than statements of historical facts, that address events, contribution or developments that the Company
expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the forward-looking statements. Such statements
and information are based on numerous assumptions regarding present and future business strategies and the
environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated
costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change
in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such
forward-looking information reflects the Company's views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration and
metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the
potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ (
www.sedarplus.ca
). While such estimates and assumptions are considered reasonable by the management of the
Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and
risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but
are not limited to, continued availability of capital and financing and general economic, market or business conditions,
adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and
authorizations, failure to maintain or obtain community acceptance (including First Nations), risks relating to
unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with
specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action
or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events
related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical, engineering
and pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the
Company's ability to operate, restriction on labour and international travel and supply chains, loss of key employees,
consultants, officers or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform
their contractual obligations. The Company does not undertake to update forward–looking statements or forward–
looking information, except as required by law.
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SOURCE
Defense Metals Corp.
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%SEDAR: 00042886E
CO: Defense Metals Corp.
CNW 07:20e 13-JAN-25