Apex Critical Metals Corp. Completes First Tranche of Private Placement for Proceeds of $1,000,000

Rhea-AI Summary

Apex Critical Metals Corp. (CSE:APXC, OTCQB:APXCF) has completed the first tranche of a non-brokered private placement, raising $1,000,000 by issuing 2,500,000 units at $0.40 per unit. Each unit includes one common share and one common share purchase warrant, allowing the holder to buy an additional share at $0.60 within one year. The funds will be directed towards property exploration and working capital. All securities are subject to a statutory hold period of four months and a day, with an additional voluntary hold period of six months for subscribers.

Positive

• Raised $1,000,000 through a private placement.
• Issued 2,500,000 units at $0.40 per unit, including one common share and one purchase warrant per unit.
• Warrants allow purchase of additional shares at $0.60 within one year.
• Funds allocated for property exploration and working capital.

Negative

• All securities are subject to a statutory hold period of four months and a day.
• Voluntary hold period of six months for subscribers may limit short-term liquidity.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / July 5, 2024 / Apex Critical Metals Corp. (CSE:APXC)(OTCQB:APXCF) ("Apex" or the "Company"), is pleased to announce that it has completed the first tranche of a non-brokered private placement (see news release dated xxx), issuing a total of 2,500,000 units (each, a "Unit") at a price of $0.40 per Unit, raising aggregate proceeds of $1,000,000 (the "Offering"). Each Unit consisted of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling 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 proceeds of the Offering will be used for property exploration and general working capital.

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

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 the value of the funds raised by Apex Critical Metals Corp. through the private placement?

Apex Critical Metals Corp. raised $1,000,000 through the private placement.

How many units did Apex Critical Metals Corp. issue in the private placement?

Apex Critical Metals Corp. issued 2,500,000 units in the private placement.

What is the price of each unit issued by Apex Critical Metals Corp.?

Each unit is priced at $0.40.

What does each unit issued by Apex Critical Metals Corp. consist of?

Each unit consists of one common share and one common share purchase warrant.

What is the exercise price of the warrants issued by Apex Critical Metals Corp.?

The exercise price of the warrants is $0.60 per share.

What is the purpose of the funds raised by Apex Critical Metals Corp.?

The funds will be used for property exploration and general working capital.

What are the hold periods for the securities issued by Apex Critical Metals Corp.?

Securities are subject to a statutory hold period of four months and a day, and a voluntary hold period of six months for subscribers.