Business
Latin Metals Announces Private Placement for Gross Proceeds up to $1.0 Million
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About this update from Latin Metals Inc
[{"type":"text","content":"Latin Metals Announces Private Placement for Gross Proceeds up to $1.0 Million\n\n\n\n\n\n Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.\n \n\n\n\n\n\n VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) --\n \n Latin Metals Inc.\n \n (\n \n \"Latin Metals\"\n \n or the\n \n \"Company\"\n \n ) -\n \n (TSXV: LMS)\n \n\n (OTCQB: LMSQF)\n \n announces a non-brokered private placement (the \"\n \n Financing\n \n \") of up to 9,090,090 units (each, a \"\n \n Unit\n \n \") for a subscription price of $0.11 per Unit, to raise total gross proceeds of up to $1.0 million. Each Unit will consist of one common share in the capital of Latin Metals (each, a \"\n \n Share\n \n \") and one common share purchase warrant (each a \"\n \n Warrant\n \n \"), each entitling the holder thereof to purchase one Share at a price of $0.20 per Share for a period of 36 months from the closing of the Financing. If the volume-weighted average price of the Company’s Shares is greater than or equal to $0.30 for 15 consecutive trading days, the Company may accelerate the expiry date of the Warrants by providing written notice to the holder, in which case the warrants will expire 30 days from the date of such notice.\n \n\n The proceeds of the Financing are intended to fund exploration, generative work, and for general working capital.\n \n\n The Company may pay finder’s fees on all or a portion of the Financing, consisting of a cash commission equal to up to 7% of the total gross proceeds raised and finder’s warrants equal to up to 7% of the total number of Units issued, where each finder’s warrant will entitle the holder thereof to purchase one Share at a price of $0.11 per Share for a period of 12 months from the closing of the Financing.\n \n\n All securities issued in connection with the Financing will be subject to a hold period of four-months and one day in Canada. The Financing is subject to the receipt of all necessary approvals including acceptance for filing of the Financing by the TSX Venture Exchange (the “TSXV”) and any applicable securities regulatory authorities. Any participation by directors or officers in the Financing is consider...