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Intrepid Metals Announces Closing of $6.7 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2025) - Intrepid Metals Corp. (TSXV: ...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"Intrepid Metals Announces Closing of $6.7 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - October 29, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) (\"Intrepid\" or the \"Company\") is pleased to announce the closing on October 28, 2025, of its previously announced non-brokered private placement (the \"Offering\") for aggregate gross proceeds of $6.7 million. The Offering resulted in the issuance of 19,142,858 units (the \"Units\"), with each Unit consisting of one common share and one-half of one common share purchase warrant (each full common share purchase warrant, a \"Warrant\") at a price of $0.35 per Unit. Each full Warrant shall entitle the holder thereof to acquire one additional common share at a price of $0.50 until October 28, 2027. All securities issued in connection with the Offering are subject to a hold period ending March 1, 2026.The net proceeds of the Offering will be used for exploration expenditures, working capital, property payments and a bridge to completion of a strategic partnership transaction. Finder's fees of 6% in cash and 6% in non-transferrable finder warrants (the \"Finder Warrants\") exercisable at a price of $0.35 for a period of twenty-four (24) months from the closing date of the Offering, were paid on a portion of the Offering in accordance with the policies of the TSX Venture Exchange. A total of $235,409.94 was paid in cash finder's fees and 672,599 Finder Warrants were issued.To demonstrate continued support of the Company, certain officers of the Company and their affiliates (each, a \"Related Party\") participated in the Offering and acquired an aggregate of 771,430 Units for total gross proceeds of $270,000.50. Each subscription by a Related Party is considered a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The related party transactions are exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance upon the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the transaction, insofar as it involves the Related Parties, does not exceed 25% of the Company's market capitalization. The Company did not file a material change report ...