Neotech Metals Announces Close of Private Placement

Executive Summary

• Neotech Metals Corp. closed a non‑brokered private placement financing, issuing 9,258,414 CMETCFT units at $0.35 each for gross proceeds of $3,240,445.
• The issuance included insider participation (285,000 units for $99,750) and finder’s warrants; finder's fees totaled $57,304.96.
• Net proceeds will be used for qualified mineral property expenditures and general working capital, with a four‑month‑plus hold period on the units.

Key Details

• Units Issued: 9,258,414 critical minerals exploration tax credit flow‑through (CMETCFT) units.
• Price per Unit: $0.35.
• Gross Proceeds: $3,240,445.
• Unit Composition: Each CMETCFT unit = one common share (flow‑through) + ½ warrant to purchase one common share at $0.45 for two years.
• Finder’s Compensation: $57,304.96 in fees; issuance of 163,728 non‑transferable finder’s warrants (each for one share at $0.45, exercisable within two years).
• Insider Participation: 285,000 CMETCFT units issued to an insider for $99,750 (related party transaction exempt from formal valuation/minority approval under MI 61‑101).
• Use of Proceeds: Qualified expenditures on mineral properties and general working capital.
• Hold Period: Four months and one day from issuance for the CMETCFT units.
• Warrant Acceleration Clause: If Neotech’s share price exceeds $0.75 for 20 consecutive trading days post‑closing, expiry of warrants may be accelerated to 30 days thereafter.

Notable Quotes

(No direct quotes provided in the release.)