Metalero Closes Final Tranche of Private Placement
Metalero Mining Corp.
10545 - 45 Avenue NW
250 Southridge, Suite 300
Edmonton, AB CANADA T6H 4M9
METALERO CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT
Edmonton, AB – November 5, 2024 – Metalero Mining Corp. (the “Company” or “Metalero”) (TSXV:
MLO; OTCPK: CRTTF) announces that further to the Company’s news release s on August 30, 2024 and
September 26, 2024, it has closed the second and final tranche of its non-brokered private placement (the
“Offering”) by issuing a total of 1,273,331 common shares (the “Shares”) at a price of $0.15 per Share for
gross proceeds of $191,000 of which $50,000 was raised previously.
All Shares issued are subject to a hold period until March 5, 2025. No finder’s fees were paid in connection
with the second closing of the Offering. The net proceeds will be used to fund annual claim fees, exploration
and development expenditures at the Company’s projects located in Nevada, USA, and for general working
capital.
Pursuant to the first and second closings of the Offering , a private company controlled by Robert
L’Heureux, the President, CEO, and a director of the Company, acquired 485,333 Shares in total. These
are related party transactions for the purposes of Multilateral Instrument 61 -101 Protection of Minority
Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the
formal valuation and minority shareholder approval requirements provided under sections 5.5(b) and
5.7(1)(b) of MI 61 -101, respectively, on the basis that the Company is not listed on any of the specified
markets in MI 61 -101, the fair market value of the se subscriptions (together with all other insider
participation in the Offering) does not exceed $2,500,000, and all the independent directors have approved
the private placements in accordance with MI 61-101. The Company did not file a material change report
in respect of the second closing 21 days in advance, because insider participation had not been confirmed
at th at time. The shorter period w as necessary in order to permit th e second c losing in a timeframe
consistent with usual market practice for transactions of this nature.
About Metalero Mining Corp.
Metalero Mining Corp. is a Canadian -based junior exploration company and part of the Metals Group of
companies with offices in Vancouver and Edmonton. Metalero is undergoing a restructuring which includes
a new project focus and management change making its drill-ready gold assets in Nevada available for sale
or option.
On behalf of the Board of Directors
“Rob L’Heureux”
Rob L’Heureux, Chief Executive Officer and President
Email: [email protected]
Telephone: +1.780.437.6624
www.metalsgroup.com
Metalero is part of the Metals Group of Companies, managed by exploration
professionals who stand for technical excellence, robust project selection and
strong corporate governance, with a proven ability to identify and capitalize
on investment opportunities and deliver shareholder returns.
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This news release may contain certain “forward looking statements” under applicable Canadian securities legislation. Forward-
looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condi tion or result to occur. Forward -looking statements may be
identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Si nce
forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no
assurance that such statements will prove to be accurate, as actual resu lts and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.. Any forward-
looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any forward -looking statement, whether as a result of new information,
future events or results or otherwise.
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 RELEASE.