Leocor Mining Announces Private Placement

Executive Summary

• Leocor Mining Inc. announced a non‑brokered private placement of up to 80 million units at $0.05 per unit, targeting gross proceeds of up to $4 million.
• Each unit consists of one common share and one warrant exercisable for an additional share at $0.10 within three years.
• Net proceeds will be used to exercise convertible securities held in Intrepid Metals Corp. and for general working‑capital purposes.

Key Details

• Units Offered: Up to 80,000,000 units @ $0.05 each → Maximum gross proceeds: $4,000,000.
• Unit Composition: 1 common share + 1 warrant (exercise price $0.10, term 3 years).
• Use of Proceeds:
• Repurchase/convert convertible securities of Intrepid Metals Corp. held by Leocor.
• General working‑capital needs.
• Finder’s Fees: Company may pay fees to third parties that introduce subscribers.
• Resale Restrictions: Securities subject to a four‑month‑and‑one‑day lock‑up period per securities law requirements.
• Closing Conditions: Subject to receipt of required regulatory approvals.
• Contact: Alex Klenman, CEO – [email protected]; (604) 970‑4330.

Notable Quotes

(No direct quotes were provided in the release.)