Business
Intrepid Metals Adds Additional Arizona Properties to the Portfolio
VANCOUVER, BC / ACCESSWIRE / February 15, 2023 / Intrepid Metals Corp. (TSXV:INTR) ("Intrepid" or...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"Intrepid Metals Adds Additional Arizona Properties to the PortfolioVANCOUVER, BC / ACCESSWIRE / February 15, 2023 / Intrepid Metals Corp. (TSXV:INTR) (\"Intrepid\" or the \"Company\") announces that on February 14, 2023, it entered into a definitive agreement (the \"Agreement\") with Cave Creek Copper Inc. (\"CCCI\") and its shareholders to acquire all of the issued and outstanding shares of CCCI. CCCI holds certain exploration properties located in the Courtland-Gleeson area of Cochise County, Arizona (the \"Properties\").The terms of the Agreement give Intrepid the option to acquire all of the issued and outstanding shares of CCCI in return for certain cash and common share (\"Share\") payments and exploration expenditure commitments. The consideration is as follows and all dollar values are Canadian dollars:Time PeriodCash PaymentsShare ConsiderationExploration Expenditure CommitmentsTSXV Approval$50,0001,500,000 Shares-6 Months$50,000--12 Months$25,0001,000,000 Shares$100,00024 Months$395,0001,000,000 Shares$150,00036 Months$150,0003,500,000 Shares$150,000Totals$670,0007,000,000 Shares$400,000Intrepid will take over as operator of the Properties and will be responsible for future exploration work and maintaining the Properties in good standing. The Agreement is subject to the approval of the TSX Venture Exchange (\"TSXV\").Intrepid Engages Marketing Service ProvidersThe Company is pleased to announce it has engaged the 121 Group under The Assay Investor Engagement Program (\"The Assay\") to provide marketing services, including but not limited to dissemination of company news releases and the creation and maintenance of marketing content in both digital and print form. All content and news coverage will be shared with 121 Group's network of institutional investor and other subscribers through The Assay website (www.theassay.com), 121 Group's social media platforms (Twitter, LinkedIn and YouTube), through The Assay Weekly Newsletter and The Assay Magazine digital editions and print editions when applicable. Under the agreement, The Assay will provide services for a twelve-month term at a cost of approximately USD$15,000 which will be paid from the Company's existing cash on hand. No stock options are being granted and no compensation other than as stated above is payable in connection with the engagement. The Assay and the Co...