Defense Metals Corp. Closes Private Placement Financing
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DEFENSE METALS CORP. CLOSES PRIVATE PLACEMENT FINANCING
News Release - Vancouver, British Columbia – November 20, 2020 : Defense Metals Corp. (“ Defense
Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that it has
closed a non-brokered private placement of 800,000 flow-through common shares (“FT Shares”) at a price of
$0.25 per FT Share for gross proceeds of $200,000 (the “FT Private Placement”).
All securities issued in connection with the private placements are subject to a four month hold period from the
closing date in accordance with applicable securities laws.
The proceeds from these private placements will be used on the Company’s Wicheeda rare earth element project
located in Prince George, British Columbia.
Wicheeda REE Project
The Wicheeda REE project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO
(Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO 1.
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property
has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX
Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing
metals and elements commonly used in the electric power market, military, national security and the production
of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an
option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George,
British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX
Venture Exchange, in the United States , under “DFMTF” on the OTCQB and in Germany on the Frankfurt
Exchange under “35D”.
For further information, please visit https://defensemetals.com/ or contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: [email protected]
1 Technical Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and prepared by APEX Geoscience Ltd.
(Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo) is available under Defense Metals Corp.’s profile on
SEDAR (www.sedar.com)
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdictio n in which such offer, solicitation or sale would be unlawful,
including any of the securities in the United States of America. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the “ 1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as
defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities
laws, or an exemption from such registration requirements is available.
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, statements relating to the Company’s plans for its Wicheeda project , use of funds,
the technical, financial and business prospects of the Company, its project and other matters. All statements in this news
release, other than statements of historical facts, that address events or developments that the Company expects to occur,
are forwa rd-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 eart h elements, 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 those filed under the Company’s profile on SEDAR at
www.sedar.com. 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 conditions, failure to maintain all necessary government permits, approvals and authorizations,
failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact
of Covid-19 or other viruses and diseases on the Company’s ability to operate increase in costs, litigation, an d 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 .