Transition Metals Corp. Announces a $300,000 Private Placement
Transition Metals Corp. Announces a $300,000
Private Placement
Sudbury, Ontario--(Newsfile Corp. - November 20, 2024) - Transition Metals Corp. (TSXV: XTM)
("
Transition
" or the "C
ompany
") is pleased to announce that it intends to raise $300,000 by way of a
non brokered private placement (the "
Offering
").
The Offering will consist of 4,000,000 Critical Flow
Through Shares (the "
CFT
") at a price of $0.075 per share for proceeds of $300,000.
A finder's fee will
be paid in connection with the Offering to finders, as determined by mutual agreement between the
Corporation and the finders and subject to regulatory approval.
The finders' fee will consist of 6% cash
on the total financing and additional 6% Compensation Warrants associated with $200,000 of the
financing ("
Compensation Warrants
").
The Compensation Warrants will permit the purchase of one
common share in the capital of the Company at a price of $0.10 per common share for a period of 18
months from closing of the Offering.
Proceeds from the securities issued in connection with the Offering will be used to explore and advance
critical minerals properties in Ontario (Saturday Night PGM) and the Yukon (Pike Warden Au-Ag-Cu).
Completion of the Offering will be subject to all necessary approvals, including the approval of the TSX
Venture Exchange. There can be no assurance that the Offering will be completed as proposed or at all.
All securities issued in connection with the Offering will be subject to a four-month restricted resale
period and applicable securities legislation hold periods outside of Canada from the closing of the
Offering.
About Transition Metals Corp
Transition Metals Corp (TSXV: XTM) is a Canadian-based, multi-commodity explorer.
The award-
winning team of geoscientists has extensive exploration experience which actively develops and tests
new ideas for discovering mineralization in places that others have not looked, often allowing the
company to acquire properties inexpensively.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes
"forward looking information" within the meaning of Canadian securities law. Such forward-looking
information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects",
"believes", "may", "will" and include without limitation, statements regarding estimated capital and
operating costs, expected production timeline, benefits of updated development plans, foreign exchange
assumptions and regulatory approvals.
There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from such statements.
Factors that could
cause actual results to differ materially include, among others, metal prices, competition, risks inherent in
the mining industry, and regulatory risks.
Most of these factors are outside the control of the Company.
Investors are cautioned not to put undue reliance on forward-looking information.
Except as otherwise
required by applicable securities statutes or regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether as a result of new information, future
events or otherwise.
Further information is available at
www.transitionmetalscorp.com
or by contacting:
Scott McLean
President and CEO
Transition Metals Corp
Tel: (705) 667-6178
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.
THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS,
IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND
MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT
REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/230834