Voleo Announces Conditional Approval for Change of Business to Become a Mining Issuer

About this update from Intrepid Metals Corp.

[{"type":"text","content":"Voleo Announces Conditional Approval for Change of Business to Become a Mining IssuerVancouver, British Columbia--(Newsfile Corp. - July 23, 2021) - Voleo Trading Systems Inc. (TSXV: TRAD) (\"Voleo\") is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the \"Exchange\") for its change of business transaction pursuant to which it has entered into an option agreement to acquire a 100% in interest in the Tombstone South Property (the \"Property\") located in Arizona (the \"Transaction\"). In connection with the Transaction, Voleo will change its name to Intrepid Metals Corp. Voleo will now work to complete the final material conditions to the closing of the Transaction which include obtaining the written approval of shareholders holding at least 50% of Voleo's common shares and completion of the Offering (defined below).OfferingIn conjunction with the Transaction, Voleo intends to undertake a non-brokered private placement to raise a minimum of C$1,000,000 and a maximum of C$3,000,000 through the issuance of units (the \"Units\") at a price of C$0.25 per Unit (the \"Offering\"). Each Unit will consist of one common share and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one common share for a period of 24 months at an exercise price equal to C$0.40. The Company intends to use the net proceeds of the Offering to continue to evaluate and explore the Property and for general corporate and working capital purposes.The Offering will be non-brokered; however, the Company may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange. The Offering is subject to the approval of the TSX Venture Exchange.This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.Additional InformationAdditional information as required by Exchange Policy 5.2 will be provided by way of a subsequent news release. Trading in the common shares of the Company on the Exchange will remain halte...

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