Intrepid Metals Announces 4-Month Hold Private Placement Financing

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 additional shares at $0.50 for 24 months after closing.
• Net proceeds are earmarked for exploration expenditures, working capital, property payments and as bridge financing to complete a strategic partnership transaction.

Key Details

• Units Offered: Up to 17,142,857 units.
• Unit Composition: 1 common share + ½ of one common‑share purchase warrant (full warrant = right to buy 1 additional common share at $0.50).
• Pricing: $0.35 per unit → aggregate gross proceeds of $6 million.
• Warrant Terms: Exercise price $0.50; exercisable for 24 months from the closing date.
• Hold Period: All securities subject to a four‑month hold period from issuance.
• Finder’s Fees: 6% cash and 6% non‑transferable finder warrants (exercisable at $0.35) may be paid on a portion of the offering, per TSX Venture Exchange policies.
• Use of Proceeds: Exploration expenditures, working capital, property payments, and bridge financing for a strategic partnership transaction.
• Closing Timeline: Intended closing on or around October 24, 2025, subject to TSX Venture Exchange approval.
• Regulatory Notes: Offering not an offer in the United States; securities not registered under U.S. law.

Notable Quotes

“The net proceeds of this offering will provide essential capital to advance our exploration programs and support the strategic partnership we are pursuing,” – Mark Morabito, Chairman & CEO.