Integral Metals closes private placements

Executive Summary

• Integral Metals Corp. has closed two private placement offerings, raising a combined total of approximately $4.03 million in gross proceeds.
• The company issued standard units and flow-through units, with specific warrant terms attached to each class of security.
• Proceeds are designated for Canadian exploration expenses (flow-through) and general working capital/exploration (standard units).

Key Details

• Standard Private Placement:
  • Closed offering of units at 80 cents per unit.
  • Aggregate gross proceeds: $2,528,000.
  • Unit composition: One common share and one share purchase warrant.
  • Warrant terms: Entitles holder to acquire one share at $0.95 per share for a period of 24 months.
• Flow-Through Private Placement:
  • Closed offering of flow-through units at 95 cents per flow-through unit.
  • Aggregate gross proceeds: $1,498,749.45.
  • Unit composition: One flow-through common share and one non-flow-through warrant.
  • Warrant terms: Entitles holder to acquire one warrant share at $1.00 per share for a period of 24 months.
• Use of Proceeds:
  • Net proceeds from standard units: Finance exploration activities, working capital, and general corporate purposes (including investor relations).
  • Gross proceeds from flow-through shares: Incur Canadian exploration expenses as defined in the Income Tax Act (Canada).
• Finder’s Fees:
  • Cash fees: $31,680 paid to eligible finders.
  • Broker warrants: 39,600 warrants issued to finders.
  • Finder warrant terms: Entitle holder to acquire one warrant share at $1.00 per share for a period of 24 months.
• Hold Period:
  • All securities issued in both offerings are subject to a four-month-and-one-day hold period.