Go Metals Announces Flow-Through Private Placement

Rhea-AI Summary

Go Metals Corp. announces a private placement of flow-through shares at $0.09 per share, aiming to raise up to $100,000 for exploration on critical metal projects in Quebec, Canada. The Company will pay a 7% cash and 7% finder's warrant fee for the Private Placement, with each warrant allowing the holder to acquire a common share at $0.10 within 12 months. The securities will be subject to a hold period of four months and one day.

Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to announce a private placement of up to 1,111,111 flow-through shares ("FT Shares") to be issued at a price of $0.09 per FT Share for gross proceeds up to $100,000 (the "Private Placement"). Each FT Share will be comprised of one common share of the Company issued on a "flow-through" basis. The Company anticipates that it will close the Private Placement on or about May 15, 2024.

Proceeds received from the FT Shares will be used to fund exploration on Go Metal's critical metal projects located in Quebec, Canada. The Company will pay a finder's fee of 7% cash and 7% finder's warrant on the Private Placement. Each non-transferable finder's warrant will entitle the holder thereof to acquire one common share at a price of $0.10 for a period of 12 months from the date of closing. All securities will be will be subject to a statutory hold period of four months and one day from issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Go Metals
Go Metals targets Canadian critical metal projects to help develop a sustainable future. The Company's HSP, Clyde, and KM98 projects have multiple nickel-copper sulphide targets within a 416.5 square kilometre land package north of Havre-Saint Pierre, Québec in the Nitassinan of Ekuanitshit.

For further information, please contact:
Scott Sheldon, President
604.725.1857
Scott@GoMetals.ca

Forward-Looking Information:
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties, future production, reserve potential, and events or developments that the Company expects. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance, they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether because of new information, future events or results, or otherwise) other than as required by applicable securities laws. There are several risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at SedarPlus.ca.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208463

FAQ

What is Go Metals announcing?

Go Metals announces a private placement of flow-through shares.

How much are the shares priced at?

The shares are priced at $0.09 per share.

What is the purpose of the private placement?

The proceeds will be used for exploration on critical metal projects in Quebec, Canada.

When will the Private Placement close?

The Company anticipates closing the Private Placement on or about May 15, 2024.

What is the finder's fee for the Private Placement?

The Company will pay a 7% cash and 7% finder's warrant fee.

What is the price of acquiring a common share with the finder's warrant?

The holder can acquire a common share at $0.10 within 12 months from the date of closing.

Are the securities subject to any hold period?

Yes, all securities will be subject to a hold period of four months and one day from issuance.

Can the securities be sold in the United States?

No, the securities have not been registered under the U.S. Securities Act and may not be sold within the United States.

Where are Go Metals' critical metal projects located?

The critical metal projects are located in Quebec, Canada.