Transition Metals Corp. Announces a $300,000 Private Placement

Rhea-AI Summary

Transition Metals Corp. (TSXV: XTM) has announced plans to raise $300,000 through a non-brokered private placement. The offering consists of 4,000,000 Critical Flow Through Shares priced at $0.075 per share. A finder's fee of 6% cash and 6% Compensation Warrants on $200,000 of the financing will be paid. The Compensation Warrants allow purchase of common shares at $0.10 for 18 months post-closing. Proceeds will fund exploration of critical minerals properties in Ontario (Saturday Night PGM) and Yukon (Pike Warden Au-Ag-Cu). The offering requires TSX Venture Exchange approval and includes a four-month restricted resale period.

Positive

• Secured $300,000 in new funding for exploration activities
• Strategic focus on critical minerals properties development

Negative

• Potential shareholder dilution through issuance of 4,000,000 new shares
• Additional dilution through compensation warrants
• 6% cash finder's fee reduces net proceeds from financing

Sudbury, Ontario--(Newsfile Corp. - November 20, 2024) - Transition Metals Corp. (TSXV: XTM) ("Transition" or the "Company") is pleased to announce that it intends to raise $300,000 by way of a non brokered private placement (the "Offering"). The Offering will consist of 4,000,000 Critical Flow Through Shares (the "CFT") at a price of $0.075 per share for proceeds of $300,000. A finder's fee will be paid in connection with the Offering to finders, as determined by mutual agreement between the Corporation and the finders and subject to regulatory approval. The finders' fee will consist of 6% cash on the total financing and additional 6% Compensation Warrants associated with $200,000 of the financing ("Compensation Warrants"). The Compensation Warrants will permit the purchase of one common share in the capital of the Company at a price of $0.10 per common share for a period of 18 months from closing of the Offering.

Proceeds from the securities issued in connection with the Offering will be used to explore and advance critical minerals properties in Ontario (Saturday Night PGM) and the Yukon (Pike Warden Au-Ag-Cu). Completion of the Offering will be subject to all necessary approvals, including the approval of the TSX Venture Exchange. There can be no assurance that the Offering will be completed as proposed or at all.

All securities issued in connection with the Offering will be subject to a four-month restricted resale period and applicable securities legislation hold periods outside of Canada from the closing of the Offering.

About Transition Metals Corp

Transition Metals Corp (TSXV: XTM) is a Canadian-based, multi-commodity explorer. The award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively.

Cautionary Note on Forward-Looking Information

Except for statements of historical fact contained herein, the information in this news release constitutes "forward looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Further information is available at www.transitionmetalscorp.com or by contacting:

Scott McLean
President and CEO
Transition Metals Corp
Tel: (705) 667-6178

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230834

FAQ

How much is Transition Metals Corp. (TSXV: XTM) raising in their latest private placement?

Transition Metals Corp. is raising $300,000 through a non-brokered private placement offering 4,000,000 Critical Flow Through Shares at $0.075 per share.

What are the terms of the finder's fee for Transition Metals Corp.'s private placement?

The finder's fee consists of 6% cash on the total financing and 6% Compensation Warrants on $200,000 of the financing, with warrants exercisable at $0.10 per share for 18 months.

How will Transition Metals Corp. use the proceeds from the private placement?

The proceeds will be used to explore and advance critical minerals properties in Ontario (Saturday Night PGM) and the Yukon (Pike Warden Au-Ag-Cu).