Editor’s Note
Anteros Metals Inc. has announced a private placement to raise up to $200,000. This financing will support the company’s exploration and development activities.
Anteros Metals Inc. (CSE: ANT) (“Anteros” or the “Company”) is pleased to announce it intends to complete a non-brokered private placement through the issuance of up to 833,334 flow-through units in the capital of the Company (each, a “FT Unit”) at a price of $0.12 per FT Unit and up to 1,111,111 hard dollar units (each, a “Unit”) of the Company at a price of $0.09 per Unit, for aggregate gross proceeds of up to $200,000 (the “Offering”).
Each FT Unit shall be comprised of one common share, issued on a flow-through basis (each, a “FT Share”) and one-half of one whole common share purchase warrant, issued on a non-flow-through basis (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company (each, a “Common Share”) at a price of $0.15 per Common Share for a period of twenty-four (24) months from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.15 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant term (the “Reduced Warrant Term”) such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada), which also qualify for the Canadian government’s Critical Mineral Exploration Tax Credit. Each Unit shall be comprised of one Common Share and one-half of one whole Warrant.
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange. The net proceeds from the sale of the Units will be used for general working capital purposes and the gross proceeds of the Offering received from the sale of the FT Shares will be used to incur “Canadian exploration expenses” that will qualify as “flow-through critical mineral mining expenditures” as such terms are defined in the Income Tax Act (Canada).
Anteros Metals Inc. is a Canadian mineral exploration company focused on advancing a pipeline of projects across Newfoundland and Labrador and select Canadian jurisdictions. The Company applies a technically driven, data-supported exploration approach targeting critical minerals and emerging strategic commodities relevant to the global energy transition.
For further information:
Email: [email protected] | Phone: +1-709-769-1151
Web: www.anterosmetals.com
On behalf of the Board of Directors:
Chris Morrison
Director
[email protected] | +1-709-725-6520
16 Forest Road, Suite 200, St. John’s, NL, Canada A1X 2B9