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Intrepid Metals Announces Strategic Investor: Teck to Acquire a 9.9% Equity Interest to Fund Exploration on the Corral Copper Project in Arizona at $0.45 per Share
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 18, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce that Teck Resources Limited ("Teck") has agreed to acquire, on a non-brokered private placement basis, 8,800,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.45 per Common Share (the "Issue Price") for gross proceeds to the Company of $3,960,000 (the "Offering"), representing 9.9% of the Company's outstanding shares on a pro forma basis. The Offering constitutes a binding commitment by Teck, subject to customary conditions precedent, including receipt of all required regulatory approvals. The Issue Price represents a premium of 13% to the trailing 20-day volume weighted average price of the Company on the TSX Venture Exchange (the "Exchange") as of today's date.","length":957,"tagName":"p"},{"type":"text","content":""I look forward to welcoming Teck as a new shareholder and strategic partner of Intrepid," said Mark J. Morabito, Chief Executive Officer of Intrepid. "Teck's decision to make a cornerstone investment in the Company reflects the quality, scale potential and strategic relevance of our Corral Copper Project in Cochise County, Arizona. Corral has already delivered multiple broad, near-surface copper-gold-silver intercepts with locally high-grade intervals, and our ongoing work continues to refine and expand the Ringo, Earp, Holliday and Clanton zones while advancing our understanding of the broader mineral system and porphyry potential. With a committed, well-funded exploration program and the benefit of Teck's technical engagement through the technical committee, Intrepid will be positioned to systematically advance Corral and build long-term value for shareholders."","length":905,"tagName":"p"},{"type":"text","content":"Proceeds from the Offering will be used to complete an initial 24-month exploration and development program at Corral (the "Committed Program"). The Committed Program is expected to include, among other work programs, a 50 line-kilometre induced polarization ("IP") survey, geological mapping and geochemical sampling, metallurgical and permitting work, and follow-up drilling...