Neotech Metals Approved for $500,000 CMIF Grant
Rhea-AI Summary
Neotech Metals (OTCQB:NTMFF) has been approved for a $500,000 non-dilutive CMIF grant from Ontario’s Critical Minerals Innovation Fund. The award, the maximum per project, will reimburse 50% of up to $1,000,000 in qualified metallurgical, hydrometallurgical and processing test work at the Hecla-Kilmer rare earth, niobium and phosphate project.
Positive
- Awarded $500,000 non-dilutive funding from Ontario’s Critical Minerals Innovation Fund
- Grant covers 50% of up to $1,000,000 in qualified test-work costs
- Funding supports metallurgical and processing studies at Hecla-Kilmer project in Northern Ontario
- Company received the maximum grant available per project under the CMIF program
Negative
- Company must fund the remaining 50% of up to $1,000,000 in program costs
- Funding is limited to metallurgical, hydrometallurgical and processing test work at Hecla-Kilmer
News Market Reaction – NTMFF
In the Jun 22 session, NTMFF declined 7.14%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Vancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) ("Neotech" or "the Company") is pleased to announce that it has been selected by the Critical Minerals Innovation Fund ("CMIF") to receive
The program is part of a broader strategy to position the province as a reliable global supplier of responsibly sourced critical minerals and build fully integrated, made-in-Ontario supply chains. As the global demand for critical minerals needed to manufacture batteries, modern defence technologies and advanced manufacturing continues to grow, Ontario has the deposits, skilled workforce, expertise and business-friendly investment climate to secure the province's place as the most competitive jurisdiction in the G7 to invest, create jobs and do business.
The
"Ontario is doubling down on its leadership in the critical minerals sector, and our Critical Minerals Innovation Fund is a core component of this strategy," said Stephen Lecce, Minister of Energy and Mines. "This investment will help advance innovative processing work at the Hecla-Kilmer REE, Niobium, and Phosphate Project and support the development of a domestic rare earth supply chain. By backing companies like Neotech Metals, we are securing Ontario's place as a key supplier of the critical minerals essential for a modern, competitive, and self-reliant economy."
"We are extremely pleased to be the recipients of this funding and grateful for the Ontario government's continued support of our work at Hecla-Kilmer. The CMIF award allows us to accelerate metallurgical and processing studies at a pivotal stage in the project's development," said Reagan Glazier, Chief Executive Officer of Neotech. "Hecla-Kilmer's apatite hosted rare earth mineralization is globally distinct, and we believe it is uniquely positioned to help solve the processing bottleneck that has constrained the rare earth sector. Programs like the CMIF, together with the province's new
ON BEHALF OF THE BOARD
Reagan Glazier, Chief Executive Officer and Director
Neotech Metals Corp.
About Neotech Metals
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing critical mineral resources, with a strong commitment to environmental stewardship and sustainable practices. The Company holds a diversified portfolio of Rare Earth Element and Critical Minerals projects, including the Hecla-Kilmer Rare Earth, Niobium and Phosphate Project located 20 km from the Otter Rapids 180MW hydroelectric power generation station and active Ontario Northland Railway, the Torrance Project located 70 km northeast of Hecla-Kilmer, and the TREO and Foothills projects in British Columbia, all of which are
Qualified Person
Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski, VP Exploration, P.Geo., and Qualified Person, has reviewed and approved all of the data and statements made for this news release.
Contact Information
Reagan Glazier, CEO and Director
reagan@neotechmetals.com
+1 403-815-6663
Forward-Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
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