Leocor Mining exercises 8.82M Intrepid Metals warrants

Executive Summary

• Leocor Mining exercised 8,823,529 Intrepid Metals Corp. warrants, increasing its ownership from ~8.17% to ~15.09% of Intrepid’s outstanding common shares.
• The exercise eliminates all remaining Intrepid warrants and convertible securities held by Leocor.
• No cash consideration is disclosed; the transaction was executed for strategic investment purposes.

Key Details

• Warrants Exercised: 8,823,529 Intrepid Metals Corp. warrants.
• Pre‑exercise Holding: 8,823,529 common shares (≈8.17% of Intrepid’s issued and outstanding common shares).
• Post‑exercise Holding: 17,647,058 common shares (≈15.09% of Intrepid’s issued and outstanding common shares).
• Resulting Position: Leocor now holds no warrants or other convertible securities in Intrepid.
• Strategic Rationale: Exercise performed for investment purposes; Leocor may later acquire or dispose of additional Intrepid securities depending on market conditions.
• Reference Filing: Early warning report filed with the applicable securities commission, available on SEDAR+.

Notable Quotes

(No direct quotes were provided in the release.)