Denarius Metals Announces Proposed C$8 Million Private Placement

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[{"type":"text","content":" TORONTO, March 06, 2023 (GLOBE NEWSWIRE) -- Denarius Metals Corp. (“Denarius Metals” or the “Company”) (TSXV: DSLV; OTCQB: DNRSF) announced today that in response to investor interest received during its recent Rights Offering, the Company plans to complete a non-brokered private placement of up to 20,000,000 units of the Company (the “Units”) at a price of CA$0.40 per Unit for gross proceeds of up to CA$8,000,000 (the “Offering”). Each Unit will be comprised of one common share (a “Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will be exercisable to purchase one common share in the capital of the Company at a price of CA$0.60 per share for a period of three years from the date of the closing of the Offering. It is anticipated that the closing of the Offering will occur on or about March 31, 2023. Completion of the Offering is subject to receipt of TSX Venture Exchange approval. All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after the date of issuance. The Company intends to use the net proceeds of the Offering (i) to continue its exploration drilling campaign, metallurgical testing and other technical work at its flagship Lomero Project in the Iberian Pyrite Belt in Southern Spain, (ii) to meet its obligations under the Definitive Option Agreement executed on November 22, 2022 related to the Toral Project in Northern Spain and (iii) for working capital and general corporate purposes. No U.S. Offering or Registration This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any jurisdiction, including the United States, other than the provinces and territories of Canada. The securities being offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or the securities laws of any state of the United States. Such securities may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the US Securities Act) or person in the United States except in a transaction exempt from or not subject to the registration requirements of the US Securities Act and applicable state securities laws. About Denar...

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