Intrepid Metals arranges $6-million private placement

Executive Summary

• Intrepid Metals Corp. announced a non‑brokered private placement of up to 17,142,857 units at $0.35 per unit, targeting gross proceeds of $6 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.
• Net proceeds will be allocated to exploration expenditures, working capital, property payments and as bridge financing toward a strategic partnership transaction.

Key Details

• Offering Size: Up to 17,142,857 units (each = 1 common share + ½ warrant).
• Price per Unit: $0.35.
• Aggregate Gross Proceeds: $6 million.
• Warrant Terms: Full warrant exercisable at $0.50 per share for a period of 24 months from closing; each unit includes half a warrant, so holders receive one full warrant per two units purchased.
• Hold Period: All securities subject to a four‑month hold from issuance date.
• Use of Proceeds: Exploration expenditures, working capital, property payments, and bridge financing for completion of a strategic partnership transaction.
• Finder’s Fees: 6 % cash and 6 % non‑transferable finder warrants (exercisable at $0.35 per warrant) payable on a portion of the offering, subject to TSX Venture Exchange policies.
• Closing Timeline: Anticipated closing on or around October 24, 2025, subject to TSX Venture Exchange approval and other customary conditions.

Notable Quotes

(No executive quotes were included in the release.)