Each Warrant shall entitle the holder thereof to acquire one additional common share at a price of
Intrepid intends to close the Offering as soon as practicable following
Intrepid also intends to concurrently conduct an additional non-brokered private placement (the 'Secondary Offering') consisting of up to 5,882,353 units (the 'Secondary Units'), with each Second Unit consisting of one post-Consolidation common share and one common share purchase warrant (each a 'Secondary Warrant') at a price of
The net proceeds of the Offering and Secondary Offering will be used for exploration expenditures on the Company's mineral properties and general working capital.
The closing of the Offering is not conditional on the closing of the Secondary Offering. Closing of the Offering and Secondary Offering is subject to approval of the
As a result of this transaction, the Issuer announces that it is withdrawing its previously announced offering pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (refer to press release dated
This news release does not constitute an offer of securities for sale in
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Email: info@intrepidmetals.com
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate the completion of the Offering or any tranche thereof; the number of securities to be issued under the Offering and Secondary Offering and the gross proceeds received; the timing of the closing of the Offering and Secondary Offering; the payment of any finders fees and the form thereof and the use of net proceeds from the Offering and Secondary Offering.
In certain cases, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved' suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations; the TSXV approves the Offering and the timing of closing the Offering. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
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