Ramp Metals Announces Closing of Oversubscribed Non-Brokered Private Placement for Proceeds of Approximately $3.425M
Ramp Metals Announces Closing of
Oversubscribed Non-Brokered Private
Placement for Proceeds of Approximately
$3.425M
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2025) - Ramp Metals Inc. (TSXV: RAMP)
("
Ramp Metals
" or the "
Company
") is pleased to announce that the Company has closed its previously
announced non-brokered private placement financing (the "
Financing
") for total proceeds of
$3,464,917.74. Due to investor demand, the Company increased the size of the flow-through portion of
the Financing from $2.3M to approximately $3.07M.
In the Financing, Ramp Metals issued and sold an aggregate of 1,481,482 charity flow-through common
shares (the "
CFT Shares
") at a price of $2.07 per CFT Share, plus 295,000 common shares (the
"
Common Shares
") at a price of $1.35 per Common Share. No finder's fees were payable in
connection with the Financing.
The Company plans to use the proceeds from the issuance of CFT Shares for critical mineral exploration
expenses at the Company's Rottenstone SW property in Saskatchewan, Canada. The proceeds from
the sale of the Common Shares will be used for both exploration expenses and general working capital.
All securities issued in the Financing are subject to a hold period in Canada until September 24, 2025,
in accordance with applicable securities laws.
The CFT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the
Income Tax A
ct (Canada) (the "
Tax Act
"). An amount equal to the gross proceeds from the issuance of
the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i)
"Canadian exploration expenses" (as defined in the Tax Act), (ii) as "flow-through critical mineral mining
expenditures" (as defined in subsection 127(9) of the Tax Act), and (iii) as "eligible flow-through mining
expenditures" within the meaning of
The Mineral Exploration Tax Credit Regulations, 2014
(Saskatchewan) (collectively, the "
Qualifying Expenditures
"). Qualifying Expenditures in an aggregate
amount not less than the gross proceeds raised from the issuance of the CFT Shares will be incurred (or
deemed to be incurred) by the Company on or before December 31, 2026 and will be renounced by the
Company to the initial subscribers of the CFT Shares with an effective date no later than December 31,
2025.
The closing of the Financing remains subject to the approval of the TSX Venture Exchange.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold
district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its
flagship Rottenstone SW property. The Rottenstone SW property comprises 32,715 hectares and is
situated in the Rottenstone Domain.
Neither 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities
laws. All statements contained herein that are not clearly historical in nature may constitute forward-
looking statements. Generally, such forward-looking information or forward-looking statements can be
identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or may contain statements that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or
"will be achieved". The forward-looking information and forward-looking statements contained herein
include, but are not limited to, statements regarding the completion of the Financing, the use of proceeds
therefrom, and the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause
actual results, performance or achievements to differ materially from those expressed or implied by such
statements, including but not limited to: requirements for additional capital; future prices of minerals;
changes in general economic conditions; changes in the financial markets and in the demand and
market price for commodities; other risks of the mining industry; the inability to obtain any necessary
governmental and regulatory approvals; changes in laws, regulations and policies affecting mining
operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on any forward-looking statements or information.
No forward-looking statement can be guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are made and the Company does
not undertake any obligation to publicly update or revise any forward-looking statement, whether as a
result of new information, future events, or otherwise.
For further information, please contact:
Ramp Metals Inc.
Jordan Black
Chief Executive Officer
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/253365