Metal Energy Upsizes Private Placement
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) has increased its previously announced non-brokered private placement to $1,000,000 due to strong investor demand. The offering includes Units at $0.04 and Flow-Through Units at $0.05, both comprising common shares and 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, both for 24 months.
Orecap Invest Corp plans to subscribe for up to $220,000 of Units, subject to TSX Venture Exchange approval. The offering is expected to close around December 17, 2024, with a four-month plus one-day resale restriction period.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) ha aumentato il suo collocamento privato precedentemente annunciato per un totale di $1.000.000 a causa della forte domanda da parte degli investitori. L'offerta include Unità a $0,04 e Unità Flow-Through a $0,05, entrambe comprendenti azioni ordinarie e warrant. Ogni Unità include una azione ordinaria e metà di un warrant esercitabile a $0,08, mentre le Unità FT includono una azione ordinaria FT e metà di un warrant esercitabile a $0,10, entrambi per un periodo di 24 mesi.
Orecap Invest Corp prevede di sottoscrivere fino a $220.000 di Unità, a condizione dell'approvazione della Borsa Valori TSX Venture. Si prevede che l'offerta si chiuda intorno al 17 dicembre 2024, con un periodo di restrizione alla rivendita di quattro mesi più un giorno.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) ha incrementado su colocación privada previamente anunciada a $1,000,000 debido a la fuerte demanda de los inversores. La oferta incluye Unidades a $0.04 y Unidades Flow-Through a $0.05, ambas compuestas por acciones comunes y warrants. Cada Unidad incluye una acción común y medio warrant ejercitable a $0.08, mientras que las Unidades FT incluyen una acción común FT y medio warrant ejercitable a $0.10, ambas por un período de 24 meses.
Orecap Invest Corp planea suscribirse hasta $220,000 de Unidades, sujeto a la aprobación de la Bolsa de Valores TSX Venture. Se espera que la oferta cierre alrededor del 17 de diciembre de 2024, con un período de restricción a la reventa de cuatro meses más un día.
메탈 에너지 Corp (TSXV: MERG) (OTCQB: MEEEF)는 투자자 수요 증가로 인해 이전에 발표된 비중개 사모펀드를 $1,000,000로 늘렸습니다. 이번 공모는 $0.04의 유닛과 $0.05의 흐름통과 유닛을 포함하며, 두 가지 모두 보통주와 워런트를 포함합니다. 각 유닛에는 한 개의 보통주와 $0.08에 행사할 수 있는 반 개의 워런트가 포함되어 있으며, FT 유닛은 FT 보통주 한 개와 $0.10에 행사할 수 있는 반 개의 워런트를 포함하고 있으며, 모두 24개월 동안 유효합니다.
Orecap Invest Corp는 TSX Venture Exchange의 승인을 조건으로 최대 $220,000의 유닛을 구독할 계획입니다. 이 공모는 2024년 12월 17일경에 마감될 것으로 예상되며, 4개월 + 1일의 재판매 제한 기간이 적용됩니다.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) a augmenté son placement privé non-intermédié précédemment annoncé à $1.000.000 en raison d'une forte demande des investisseurs. L'offre comprend des unités à $0,04 et des unités Flow-Through à $0,05, qui comprennent toutes deux des actions ordinaires et des bons de souscription. Chaque unité comprend une action ordinaire et une demi-bon de souscription exerçable à $0,08, tandis que les unités FT comprennent une action ordinaire FT et une demi-bon de souscription exerçable à $0,10, toutes deux pour une durée de 24 mois.
Orecap Invest Corp prévoit de souscrire jusqu'à $220.000 d'unités, sous réserve de l'approbation de la Bourse de Toronto Venture. La clôture de l'offre est attendue autour du 17 décembre 2024, avec une période de restriction à la revente de quatre mois plus un jour.
Metal Energy Corp (TSXV: MERG) (OTCQB: MEEEF) hat aufgrund der hohen Nachfrage von Investoren sein zuvor angekündigtes nicht vermittelte Private Placement auf $1.000.000 erhöht. Das Angebot umfasst Einheiten zu $0,04 und Flow-Through-Einheiten zu $0,05, die beide aus Stammaktien und Warrants bestehen. Jede Einheit enthält eine Stammaktie und einen halben Warrant, der zu $0,08 ausgeübt werden kann, während FT-Einheiten eine FT-Stammaktie und einen halben Warrant enthalten, der zu $0,10 ausgeübt werden kann, beide für 24 Monate.
Orecap Invest Corp plant, bis zu $220.000 in Einheiten zu zeichnen, vorbehaltlich der Genehmigung der TSX Venture Exchange. Es wird erwartet, dass das Angebot rund um den 17. Dezember 2024 abgeschlossen wird, mit einer Sperrfrist von vier Monaten plus einem Tag für den Weiterverkauf.
- Increased private placement to $1,000,000 due to strong investor demand
- Secured commitment from Orecap Invest Corp for $220,000 investment
- Share dilution through new unit issuance
- Related party transaction with Orecap may pose governance concerns
Toronto, Ontario--(Newsfile Corp. - December 6, 2024) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to announce that it has upsized its previously announced non-brokered private placement (the "Offering") to accommodate strong investor demand. The Offering will now consist of aggregate gross proceeds of up to
Other than the upsize of the Offering, all other details of the non-brokered financing remain as disclosed in the news release of the Company issued on December 4th, 2024.
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/232758
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