Intrepid Metals increases financing to $6.7-million

Executive Summary

• Intrepid Metals Corp. upsized its non‑brokered private placement to a maximum of 19,142,858 units for aggregate gross proceeds of $6.7 million at $0.35 per unit.
• Each unit includes 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

• Units Offered: Up to 19,142,858 units (each = 1 common share + ½ warrant).
• Pricing: $0.35 per unit → $6.7 million gross proceeds.
• Warrant Structure:
• Half‑warrant per unit; two halves combine into one full warrant.
• Full warrant exercisable at $0.50 per share for a 24‑month period from closing.
• Hold Period: All securities subject to a four‑month hold period from issuance date.
• Use of Proceeds:
• Exploration expenditures on existing projects (Corral, Tombstone South, Mesa Well).
• Working capital needs.
• Property payments.
• Bridge financing for an upcoming strategic partnership transaction.
• Finder’s Fees:
• Cash fee of 6 % of the offering amount.
• Additional 6 % in non‑transferable finder warrants, exercisable at $0.35 per warrant for 24 months from closing.
• Closing Timeline: Anticipated on or around October 24, 2025, subject to TSX Venture Exchange approval and company discretion.

Notable Quotes

(No executive quotes were provided in the release.)