Apex Critical Metals Corp. Announces Private Placement to Raise Gross Proceeds of up to $2,000,000

Rhea-AI Summary

Apex Critical Metals Corp. (CSE:APXC; OTCQB:APXCF) announced a non-brokered private placement offering to raise up to $2,000,000 through the issuance of 5,000,000 units at $0.40 per unit.

Each unit will consist of one common share and one warrant to purchase a share at $0.60 within a year of closing. The majority of the proceeds will be used for property exploration, with the remainder allocated to general working capital.

Securities issued will be subject to a four-month statutory hold period, and certain subscribers will agree to a voluntary six-month hold period. Insiders may participate under terms exempt from formal valuation and minority shareholder approval requirements. The closing is contingent on subscriptions and regulatory approval.

Positive

• Potential to raise up to $2,000,000 in capital.
• Funds will primarily support property exploration, potentially increasing asset value.
• Warrants offer investors the opportunity to purchase additional shares at a set price, indicating confidence in future stock value.
• Insiders' participation could signal confidence in the company's prospects.

Negative

• The offering may cause shareholder dilution.
• The four-month statutory and six-month voluntary hold periods may limit share liquidity.
• The offering is subject to several conditions, including regulatory approval, which could delay or prevent completion.
• The securities are not registered under U.S. securities laws, limiting their marketability.

VANCOUVER, BC / ACCESSWIRE / June 12, 2024 / Apex Critical Metals Corp. (CSE:APXC)(OTCQB:APXCF) ("Apex" or the "Company"), is pleased to announce that it intends to undertake a non-brokered private placement offering of up to 5,000,000 units (each, a "Unit") at a price of $0.40 per Unit to raise aggregate gross proceeds of up to $2,000,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to purchase one Share at a price of $0.60 per Share for a period of one (1) year from closing of the Offering (the "Closing").

The Company anticipates that a majority of the net proceeds of the Offering will be used for property exploration and any remaining funds will be allocated to general working capital.

All securities issued pursuant to the Offering will be subject to a statutory hold period of four (4) months and a day from the Closing. In addition, it is expected that the Company will enter into an agreement with certain subscribers whereby the Shares issued to such subscribers, and any Warrant Shares that may be issuable upon the exercise of the Warrants, will be subject to a voluntary hold period of six (6) months from the date of issuance of the Units.

Insiders may participate in the Offering. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Closing remains subject to several conditions including receipt of subscriptions and regulatory approval, if required.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, unless an exemption from registration is available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

About Apex Critical Metals Corp.

Apex Critical Metals Corp.is a Canadian exploration company specializing in the acquisition and development of high potential rare earth elements (REE's) and niobium properties. Apex Critical Metals is publicly listed on the CSE, and its common shares currently trade under the symbol "APXC".

On Behalf of the Board of Directors

APEX CRITICAL METALS CORP.,

Sean Charland
Chief Executive Officer
Tel: 604.681.1568
Email: info@apexcriticalmetals.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release may contain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include statements with respect to the Offering including, the closing date of the Offering, the potential participation of insiders in the Offering and the anticipated use of proceeds of the Offering. Forward-looking statements are subject to various known and unknown risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company, including, but not limited to, the receipt of regulatory approval for the Offering, if required. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Apex Critical Metals Corp.

View the original press release on accesswire.com

FAQ

What is Apex Critical Metals Corp.'s private placement offering?

Apex Critical Metals is raising up to $2,000,000 through a non-brokered private placement, issuing 5,000,000 units at $0.40 per unit.

What does each unit in Apex Critical Metals' offering consist of?

Each unit consists of one common share and one warrant to purchase a share at $0.60 within a year of closing.

How will Apex Critical Metals use the funds raised from the offering?

The majority of the funds will be used for property exploration, with the remainder for general working capital.

What are the hold periods for the securities issued in Apex Critical Metals' offering?

Securities are subject to a four-month statutory hold period and certain subscribers will have an additional six-month voluntary hold period.

Can insiders participate in Apex Critical Metals' private placement?

Yes, insiders may participate under exemptions from formal valuation and minority shareholder approval requirements.

What conditions must be met for the closing of Apex Critical Metals' offering?

The closing is subject to receipt of subscriptions and regulatory approval, if required.

Are the securities from Apex Critical Metals' offering registered under U.S. laws?

No, the securities are not registered under U.S. securities laws and may not be offered or sold in the U.S. without an exemption from registration.