Business
Intrepid Metals Announces Closing of C$6.5 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce the closing on February 24, 2026, of its previously announced non-brokered private placement (the "Offering") for gross proceeds of C$6.5 million. Teck Resources Limited ("Teck") participated in the Offering and has acquired 6,842,881 common shares of the Company (the "Shares"), for gross proceeds of approximately C$4.1...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce the closing on February 24, 2026, of its previously announced non-brokered private placement (the "Offering") for gross proceeds of C$6.5 million. Teck Resources Limited ("Teck") participated in the Offering and has acquired 6,842,881 common shares of the Company (the "Shares"), for gross proceeds of approximately C$4.1 million. No finders' fees were paid in connection with the Offering, and the Offering was unanimously approved by the Board of Directors of Intrepid.","length":696,"tagName":"p"},{"type":"text","content":"The Offering resulted in the issuance of 10,833,333 Shares at a price of $0.60 per Share.","length":89,"tagName":"p"},{"type":"text","content":""Teck's increased investment in Intrepid, alongside the participation of a new institutional and strategic investor, represents a strong endorsement of the quality, scale, and emerging potential of the Corral Copper Project ("Corral" or the "Project")," said Mark Morabito, Chairman and Chief Executive Officer of Intrepid. "The successful closing of this financing strengthens our shareholder base and reflects growing confidence in our systematic, district-scale approach. With this funding now in place, we have a clear runway to execute a comprehensive, multi-year exploration and development program at Corral, while maintaining strong alignment with a leading global mining company."","length":733,"tagName":"p"},{"type":"text","content":"The increased investment builds on Teck's initial strategic position announced in December 2025 and reflects continued technical and strategic engagement between Intrepid and Teck. Teck beneficially owns, directly or indirectly, or exercises control or direction over, 15,642,881 Shares, representing approximately 14.7% of the issued and outstanding Shares on a non-diluted basis.","length":385,"tagName":"p"},{"type":"text","content":"Proceeds from the Offering will be used to complete an initial 30-month exploration and development program at Corral (the "Committed Program") as well as for annual property option and rental payments to keep the properties in good s...