Peruvian Metals Financing Oversubscribed and Upsized
Peruvian Metals Financing Oversubscribed
and Upsized
Edmonton, Alberta--(Newsfile Corp. - September 16, 2024) -
Peruvian Metals Corp. (TSXV: PER)
(OTCQB: DUVNF)
("Peruvian Metals" or the "Company") is pleased to announce that the non-brokered
private placement financing (the "
Offering
") previously announced by the Company on September 11,
2024, is now oversubscribed and, as a result, the Company has upsized the Offering.
The Company now
proposes to issue up to 20,000,000 units (the
"Units
") at a price of C$0.02 per Unit for gross proceeds
of up to $400,000.
Each Unit comprises 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.
Certain insiders of the Company will participate in the Offering.
Finder's fees may be payable on a
portion 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 limited 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.
The Company is also pleased to announce that the management cease trade order issued against the
Chief Executive Officer and Chief Financial Officer of the Company in respect of the late filing of the
annual financial statements, related MD&A and officer certificates for the period ended March 31, 2024
has been revoked and is no longer in effect as of September 12, 2024.
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 assumptions, 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. In 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/223484