Military Metals Completes Acquisition of Brownfield Antimony Projects in Europe
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) has completed the acquisition of brownfield antimony projects in Europe through an amalgamation transaction. The deal involved Military's wholly-owned subsidiary 1509149 B.C. merging with 1458205 B.C. , resulting in Military acquiring 100% of the amalgamated entity. As part of the transaction, Military issued 10 million common shares at a deemed price of $0.56 per share to the target company's shareholders. The company will not assume previously contemplated share purchase warrants obligations. The issued shares are free from resale restrictions under Canadian securities laws.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) ha completato l'acquisizione di progetti di antimonio brownfield in Europa attraverso una transazione di fusione. L'affare ha coinvolto la sussidiaria interamente controllata di Military, 1509149 B.C., che si è fusa con 1458205 B.C., portando Military ad acquisire il 100% dell'entità risultante dalla fusione. Come parte della transazione, Military ha emesso 10 milioni di azioni ordinarie a un prezzo presunto di $0,56 per azione agli azionisti della società target. L'azienda non assumerà obblighi relativi ai warrant di acquisto di azioni precedentemente contemplati. Le azioni emesse sono libere da restrizioni sulla rivendita secondo le leggi canadesi sui valori mobiliari.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) ha completado la adquisición de proyectos de antimonio brownfield en Europa a través de una transacción de amalgama. El acuerdo involucró a 1509149 B.C., una subsidiaria de propiedad total de Military, que se fusionó con 1458205 B.C., lo que resultó en que Military adquiriera el 100% de la entidad amalgamada. Como parte de la transacción, Military emitió 10 millones de acciones comunes a un precio considerado de $0.56 por acción a los accionistas de la empresa objetivo. La compañía no asumirá obligaciones relacionadas con los warrants de compra de acciones contemplados previamente. Las acciones emitidas están libres de restricciones de reventa según las leyes canadienses de valores.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF)는 유럽에서 황화 안티모니 프로젝트의 인수 완료를 아말감 거래를 통해 진행했습니다. 이번 거래는 Military의 완전 자회사인 1509149 B.C.가 1458205 B.C.와 합병되어 Military가 합병된 실체의 100%를 인수하게 되었습니다. 거래의 일환으로 Military는 대상 회사의 주주에게 천만 주의 보통주를 주당 $0.56의 가격으로 발행했습니다. 회사는 이전에 고려했던 주식 매입 증권에 대한 의무를 수용하지 않을 것입니다. 발행된 주식은 캐나다 증권법에 따른 재판매 제한이 없습니다.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) a conclu l'acquisition de projets d'antimoine brownfield en Europe par le biais d'une opération de fusion. L'accord a impliqué la fusion de la filiale entièrement détenue de Military, 1509149 B.C., avec 1458205 B.C., ce qui a permis à Military d'acquérir 100% de l'entité fusionnée. Dans le cadre de la transaction, Military a émis 10 millions d'actions ordinaires à un prix estimé de 0,56 $ par action aux actionnaires de la société cible. L'entreprise ne reprendra pas les obligations relatives aux warrants d'achat d'actions envisagés précédemment. Les actions émises sont libres de toutes restrictions de revente en vertu des lois canadiennes sur les valeurs mobilières.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) hat die Übernahme abgeschlossen von Brownfield-Antimonprojekten in Europa durch eine Verschmelzungstransaktion. Der Deal beinhaltete die Fusion der hundertprozentigen Tochtergesellschaft von Military, 1509149 B.C., mit 1458205 B.C., was dazu führte, dass Military 100% der fusionierten Einheit erwarb. Im Rahmen der Transaktion gab Military 10 Millionen Stammaktien zu einem festgelegten Preis von 0,56 $ pro Aktie an die Aktionäre des Zielunternehmens aus. Das Unternehmen wird keine zuvor vorgesehenen Verpflichtungen aus Aktienkaufoptionen übernehmen. Die ausgegebenen Aktien sind gemäß den kanadischen Wertpapiergesetzen ohne Verkaufsbeschränkungen erhältlich.
- Acquisition of 100% ownership in brownfield antimony projects
- No assumption of 3,499,997 share purchase warrants obligations
- Issued shares are free from resale restrictions
- Issuance of 10 million shares at $0.56 per share causing shareholder dilution
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2024) - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90)(the "Company" or "Military") is pleased to announced that it has closed its previously disclosed transaction, pursuant to which 1509149 B.C. Ltd., a wholly-owned subsidiary of the Company, amalgamated with 1458205 B.C. Ltd. (the "Target") such that the Company has acquired
In connection with the Transaction, the Company issued 10,000,000 Common shares in the capital of the Company (the "Company Shares"), at a deemed issuance price of
About the Projects:
The Transaction results in the Company acquiring three mineral exploration projects in Slovakia, being the Trojarová antimony-gold project, the Tiennesgrund antimony-gold project, and the Medvedi tin project. It is the intention of the Company to produce a technical report under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") in connection with Trojarová. The Company also intends to file a Business Acquisition Report for the Transaction in accordance with the requirements of applicable securities laws.
About the Trojarová Antimony-Gold Project
As first reported in the Company's news release regarding Trojarová dated October 30, 2024, discovered in the late 1970s Trojarová was the focus of extensive surface and underground exploration from 1983 to 1995, with 63 core holes completed for a total of 14,330m, along with 1.7km of underground development starting in 1990, ultimately comprising a 300-meter-long adit connected to a 700-plus meter-long drive in the footwall of the mineralized zone with seven crosscuts into the mineralized zone for sampling purposes. These efforts culminated in a multi-volume study comprising drill logs, analyses, drill plans, maps and sections, deposit model studies, petrographic studies, metallurgical studies and more, culminating in a multi-volume compendium of reports produced by the Slovak Geological Institute published in 1992. The historical estimate at Trojarová was classified using the Slovak version of the newly post-Soviet Russian classification system, which is not directly comparable to or compatible with the western system as defined by the Canadian Institute of Mining, Metallurgy & Petroluem ("CIM Definition Standards for Mineral Resources & Mineral Reserves"). The Slovak Geological Institute, the State agency that carried out all exploration and underground development work at Trojarová, classified the resource as "P1" in the Slovak version of the Russian classification system. P1 is closest within the Canadian Institute of Mining, Metallurgy & Petroleum's ("CIM") classification system to "Inferred Mineral Resources," which is defined by the CIM as that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence gathered through appropriate sampling techniques from locations such as outcrops, trenches, pits, workings and drill holes.
The 1992 Report contains a table featuring ten alternate historical resource estimates, five focused on the antimony component of the mineralized system and five on its gold component, each group of five featuring decreasing tonnage at increasing grade for antimony and gold, respectively. This table is shown below.
Historical alternate resource estimate scenarios for Trojarova
(source: Michel et al, 1992)
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Upon completion of the Amalgamation, the Company will move forward to verify this historical estimate through a program of confirmation drilling so that it is able to classify mineral resources at Trojarová as current, in accordance with National Instrument 43-101.
Map showing the location of Military's properties in Slovakia
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Investor Relations Engagements:
The Company further announces entry into agreements related to marketing and investor relations. Further to the news releases announced on October 24, 2024, the Company engaged Clarkham Capital ("Clarkham") to provide investor relations services with a focus on the German stock market and the German-speaking investment community in support of the company listing on the Frankfurt Stock Exchange (the "Clarkham Agreement") with a commencement date of November 18, 2024. Pursuant to the terms of the Clarkham Agreement, Clarkham will, among other items, provide the Company with marketing services, which includes social media management, content creation, distribution, digital marketing, including, but not limited to, the preparation of articles and coverages on multiple financial platforms and newsletters, and translation and distribution of press releases in Germany and any other marketing services as agreed upon by the Company and Clarkham (the "Clarkham Services"). The Clarkham Agreement has a term of two (2) months and is anticipated to commence on or about November 18, 2024. The Company will make a one-time payment to Clarkham of EUR 200,000 (CAD
Additionally, the Company entered into a one-time media services arrangement with Robert Sinn ("Sinn") in which Sinn will provide the Company with marketing services, which includes, video content creation, distribution, digital marketing, in connection with a video interview being conducted by Sinn (the "Sinn Services") for distribution on popular investor platforms such as BNN Bloomberg. The Sinn Services will commence on November 20, 2024. The Company will make a one-time payment to Sinn of
On November 15, 2024, the Company entered into a media services contract (the "NIA Agreement") with GRA Enterprises LLC, DBA National Inflation Association ("NIA"). Pursuant to the terms of the NIA Agreement, NIA will, among other items, provide the Company with marketing services, which includes social media management, content creation, distribution, digital marketing, and any other marketing services as agreed upon by the Company and NIA (the "NIA Services") for distribution on popular investor platforms such as BNN Bloomberg and Benzinga. The NIA Agreement has a term of thee (3) months and is anticipated to commence on or about November 18, 2024. The Company will make a one-time payment to NIA of US
The technical contents of this release were reviewed and approved by Avrom E. Howard, MSc, PGeo, geological consultant to Military Metals and a qualified person as defined by NI 43-101.
About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.
ON BEHALF OF THE BOARD of DIRECTORS
For more information, please contact:
Scott Eldridge
CEO and Director
For enquiries, please call 604-722-5381 or 604-537-7556
This news release contains "forward-looking information". Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes statements related to the filing of a NI 43-101 compliant technical report, the filing of the Business Acquisition Report, as well as future plans for exploration activities, and for marketing. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subjects of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact any future activities in respect of the properties held by the Company. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230288
FAQ
What assets did Military Metals (MILIF) acquire in Europe?
How many shares did Military Metals (MILIF) issue for the acquisition?
Are the shares issued by Military Metals (MILIF) subject to resale restrictions?
