Intrepid Metals Announces Upsize of Private Placement Financing to $6.7 Million

Executive Summary

• Intrepid Metals Corp. increased its non‑brokered private placement to up to 19,142,858 units at $0.35 per unit, targeting aggregate gross proceeds of approximately $6.7 million.
• Each unit consists of one common share and half of a common‑share purchase warrant; full warrants allow acquisition of an additional share at $0.50 for 24 months after closing.
• Net proceeds are earmarked for exploration expenditures, working capital, property payments, and as a bridge to complete a strategic partnership transaction.

Key Details

• Offering Size: Up to 19,142,858 units (each = 1 common share + ½ warrant).
• Price per Unit: $0.35 → Gross proceeds ≈ $6.7 M.
• Warrant Terms: Full warrant exercisable at $0.50 per share for a 24‑month period post‑closing.
• Hold Period: All securities subject to a four‑month hold from issuance date.
• Use of Proceeds: Exploration spending, working capital, property payments, and bridge financing for an upcoming strategic partnership.
• Finder’s Fees: Up to 6% cash and 6% non‑transferable finder warrants (exercisable at $0.35) payable on a portion of the offering per TSX Venture Exchange policies.
• Closing Timeline: Anticipated around October 24, 2025, subject to TSX Venture Exchange approval.

Notable Quotes

“The strong investor demand underscores confidence in our exploration strategy and provides the capital needed to advance our high‑grade copper, silver, and zinc projects,” – Mark Morabito, Chairman & CEO.