Metal Energy Announces Financing with Lead Order from Orecap Invest
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) announces a non-brokered private placement to raise up to $500,000. The offering includes Units at $0.04 and Flow-Through Units at $0.05, both with attached warrants. Each Unit includes one common share and half a warrant exercisable at $0.08, while FT Units include one FT common share and half a warrant exercisable at $0.10. Warrants have a 24-month exercise period.
Orecap Invest Corp has committed to subscribe for up to $220,000 of the Units. Proceeds will fund the Highland Valley Copper Project program and working capital. The offering is expected to close around December 17, 2024, subject to TSX Venture Exchange approval.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) annuncia un collocamento privato non mediato per raccogliere fino a $500.000. L'offerta comprende Unità a $0,04 e Unità Flusso a $0,05, entrambe con opzioni attaccate. Ogni Unità include una azione comune e mezza opzione esercitabile a $0,08, mentre le Unità Flusso includono una azione comune FT e mezza opzione esercitabile a $0,10. Le opzioni hanno un periodo di esercizio di 24 mesi.
Orecap Invest Corp si è impegnata a sottoscrivere fino a $220.000 delle Unità. I proventi finanzieranno il programma del progetto Highland Valley Copper e il capitale circolante. Si prevede che l'offerta si chiuda intorno al 17 dicembre 2024, soggetta all'approvazione della TSX Venture Exchange.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) anuncia una colocación privada no mediada para recaudar hasta $500,000. La oferta incluye Unidades a $0.04 y Unidades de Flujo a $0.05, ambas con warrants adjuntos. Cada Unidad incluye una acción ordinaria y media warrant ejercitable a $0.08, mientras que las Unidades de Flujo incluyen una acción ordinaria FT y media warrant ejercitable a $0.10. Los warrants tienen un período de ejercicio de 24 meses.
Orecap Invest Corp se ha comprometido a suscribirse hasta $220,000 de las Unidades. Los ingresos financiarán el programa del proyecto Highland Valley Copper y el capital de trabajo. Se espera que la oferta cierre alrededor del 17 de diciembre de 2024, sujeta a la aprobación de la TSX Venture Exchange.
메탈 에너지 корп (TSXV: MERG) (OTCQB: MEEEF)는 최대 $500,000를 모금하기 위한 비중개 사모 배정을 발표했습니다. 이 제안은 $0.04의 유닛과 $0.05의 흐름 유닛을 포함하며, 모두 워런트가 부착되어 있습니다. 각 유닛에는 일반 주식 1주와 $0.08에 행사 가능한 워런트 반 개가 포함되어 있으며, 흐름 유닛에는 FT 일반 주식 1주와 $0.10에 행사 가능한 워런트 반 개가 포함되어 있습니다. 워런트의 행사 기간은 24개월입니다.
오레캡 인베스트 Corp는 최대 $220,000의 유닛을 인수하기로 약속했습니다. 수익금은 하이랜드 밸리 구리 프로젝트 프로그램 및 운영 자본에 사용될 것입니다. 이 제안은 2024년 12월 17일경에 마감될 예정이며, TSX Venture Exchange의 승인을 받아야 합니다.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) annonce un placement privé non intermédié pour lever jusqu'à 500 000 $. L'offre comprend des unités à 0,04 $ et des unités à flux à 0,05 $, toutes deux avec des bons de souscription attachés. Chaque unité comprend une action ordinaire et une demi-option exerçable à 0,08 $, tandis que les unités à flux comprennent une action ordinaire FT et une demi-option exerçable à 0,10 $. Les bons de souscription ont une période d'exercice de 24 mois.
Orecap Invest Corp s'est engagé à souscrire jusqu'à 220 000 $ des unités. Les produits financeront le programme du projet Highland Valley Copper et le fonds de roulement. La clôture de l'offre est prévue autour du 17 décembre 2024, sous réserve de l'approbation de la TSX Venture Exchange.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) kündigt eine nicht vermittelte Privatplatzierung an, um bis zu 500.000 $ zu sammeln. Das Angebot umfasst Einheiten zu 0,04 $ und Fluss-Einheiten zu 0,05 $, beide mit anliegenden Warrants. Jede Einheit besteht aus einer Stammaktie und einer halben Warrant, die zu 0,08 $ ausgeübt werden kann, während FT-Einheiten eine FT-Stammaktie und eine halbe Warrant enthalten, die zu 0,10 $ ausgeübt werden kann. Warrants haben eine Ausübungsfrist von 24 Monaten.
Orecap Invest Corp hat sich verpflichtet, bis zu 220.000 $ der Einheiten zu zeichnen. Die Erlöse werden das Programm des Highland Valley Copper-Projekts und das Betriebskapital finanzieren. Es wird erwartet, dass die Platzierung um den 17. Dezember 2024 abgeschlossen wird, vorbehaltlich der Genehmigung der TSX Venture Exchange.
- Secured $220,000 lead investment from Orecap Invest Corp
- Raising up to $500,000 in new capital
- Funds allocated for Highland Valley Copper Project development
- Share dilution through new unit issuance
- Below market pricing for new units at $0.04-0.05
Toronto, Ontario--(Newsfile Corp. - December 4, 2024) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to announce that it intends to complete a non-brokered private placement (the "Offering") for aggregate gross proceeds of up to
The Offering consists of any combination of (i) units of the Company (the "Units") at
Each FT Unit will be comprised of one common share in the capital of the Company (within the meaning of the Income Tax Act (Canada) (a "FT Common Share") and one-half of one Common Share purchase warrant ("Non-Flow Through"). Each FT Warrant is exercisable to acquire one Common Share (a "FT Warrant Share") at an exercise price of
The Shares issued under the Offering will be subject to restrictions on resale for a period of four months + one day from the date of issue. The Company may pay a finder's fee in cash and/or share purchase warrants in connection with the Offering.
Subject to TSX Venture Exchange approval, Orecap Invest Corp. ("Orecap") has indicated it will subscribe for up to
MI 61-101 requires that an issuer obtain approval of a majority of the disinterested shareholders as well as a formal valuation for a transaction that constitutes a related party transaction, absent an exemption from such requirements. The participation of Orecap in the Offering will be exempt from the valuation requirement and minority shareholder requirements of MI 61-101 as the Metal Energy Shares will not exceed
Orecap is an investment issuer listed on the TSXV and seeks Special Situation investments in the natural resource sector that offer shareholders diverse exposure to high returns in precious and critical metal assets and businesses.
The Offering is scheduled to close on or around December 17, 2024, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.
About Metal Energy
Metal Energy is a critical metals exploration company with two high-potential projects in politically stable, Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) in Manitoba and its recently acquired Highland Valley Project (Cu-Mo-Ag-Au-Re) in British Columbia.
Metal Energy Corp.
MERG on the TSXV
info@metalenergy.ca
416.644.1567
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Forward-looking statements in this press release include statements regarding, among other things: the completion of the Offering on the terms anticipated, or at all, and the timing and closing thereof; the Company's anticipated use of the proceeds of the Offering; Metal Energy's business, strategy, objectives, strengths and focus; and the performance and other characteristics of the Company's properties and expected results from its assets. Such statements reflect the current views of management of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause results to differ materially from those expressed in the forward-looking statements. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedarplus.ca including the Filing Statement dated November 15, 2021. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232452
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