Peruvian Metals Closes Oversubscribed Financing
Peruvian Metals Closes Oversubscribed Financing
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES /
(Edmonton, Alberta – October 1, 2024) Peruvian Metals Corp. (TSXV: PER / US: DUVNF) (“Peruvian Metals” or the
“Company”), further to its press releases of September 11, 2024 and September 16, 2024, is pleased to announce
the closing of its previously announced non-brokered private placement financing (the “Offering”). The Company
has issued 20,000,000 units (the “Units”) at a price of C$0.02 per Unit for gross proceeds of $400,000. Each Unit is
comprised of one common share (a “ Share”) and one -half of one common share purchase warrant (a
“Warrant”). Each whole Warrant entitles the holder to purchase one additional Share of the Company at an
exercise price of $0.05 for a period of one year from the closing date of the Offering.
All securities to be issued pursuant to the Offering will be subject to a four -month hold period under applicable
securities laws in Canada. The Offering is subject to certain conditions customary for transactions of this nature,
including, but not limite d to, the receipt of all necessary approvals, including the approval of the TSX Venture
Exchange.
The net proceeds of the Offering will be used to complete the purchase agreement for the Palta Dorada property,
and for general working capital requirements , which includes development at the recently acquired Mercedes
property.
In connection with the Offering, the Company paid finders fees of a total of $5,040 and issued 132,000 non -
transferable compensation options in respect of certain investors introduced to the Company by such finders, with
each such option exercisable at a price of $0.05 per share for a period of one year from the closing date of the
Offering.
The purchase of Units in the Offering by certain insiders of the Company constitutes a “related party transaction”
within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority
Security Holders in Special Transactions (“MI 61 -101”). The Company has relied on the exemptions from the
valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a)
of MI 61-101 in respect of such insider participation. The Company did not file a material change report more than
21 days before the closing o f the Offering because the details of the insider participation were not finalized until
closer to the closing and the Company wished to close the Offering as soon as practicable for sound business
reasons.
The Offered Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable exemption from the registration
requirements. This press release shall n ot constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration, Mining and Mineral Processing company. Our business model is to
provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The
Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange : Symbol “PER”, and the OTCQB Venture Market: Symbol “DUVNF”.
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290 or Justin Bourassa Tel: (780) 218-7704
Website: www.peruvianmetals.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 release.
Disclosure Regarding Forward -Looking Statements: This press release contains certain “Forward -Looking
Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”,
“anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking
statements and forward -looking information. Such statements and information are based on a ssumptions,
estimates, opinions and analysis made by management in light of its experience, current conditions and its
expectations of future developments as well as other factors which it believes to be reasonable and relevant.
Forward-looking statements and information included in this press release include disclosure regarding the
Offering, and involve known and unknown risks, uncertainties and other factors that may cause our actual results
to differ materially from those expressed or implied in the forward -looking statements and information and
accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties
are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings
made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company
believes that the expectations expressed by such forward-looking statements and forward-looking information and
the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no
assurance that they will prove to be correct. I n evaluating forward -looking statements and information, readers
should carefully consider the various factors which could cause actual results or events to differ materially from
those expressed or implied in the forward looking statements and forward-looking information.