Leocor Mining exercises 8.82M Intrepid Metals warrants

Executive Summary

• Leocor Mining Inc. exercised 8,823,529 warrants held in Intrepid Metals Corp., increasing its total shareholding to 17,647,058 common shares.
• This transaction increases Leocor's ownership stake in Intrepid from approximately 8.17% to approximately 15.09% of the issued and outstanding common shares.
• Following the exercise, Leocor holds no remaining warrants or convertible securities in Intrepid and filed an early warning report with the applicable securities commission.

Key Details

• Warrants Exercised: 8,823,529 warrants of Intrepid Metals Corp.
• Previous Holding: 8,823,529 common shares (approx. 8.17% of Intrepid) plus 8,823,529 warrants.
• New Holding: 17,647,058 common shares (approx. 15.09% of Intrepid).
• Remaining Securities: Zero warrants or other convertible securities held in Intrepid.
• Purpose: Investment purposes; Leocor may acquire or dispose of securities depending on market conditions.
• Regulatory Filing: An early warning report was filed with the securities commission and is available on SEDAR+.
• Counterparty Context: Intrepid Metals Corp. trades on the TSX Venture Exchange (INTR) and OTCQB (IMTCF). Teck holds a 14.7% equity stake in Intrepid.

Notable Quotes

• "The company has exercised the warrants of Intrepid for investment purposes. Depending on market conditions and other factors, the company may from time to time acquire or dispose of securities of Intrepid or continue to hold its current position."