Business
Latin Metals Provides Update on Strategic Milestones and Investment for 2023
VANCOUVER, British Columbia, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") - (TSXV: LMS, OTCQB: LMSQF), a leading explor
About this update from Latin Metals Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Latin Metals Inc. (\"Latin Metals\" or the \"Company\") - (TSXV: LMS, OTCQB: LMSQF), a leading exploration company focused on mineral discoveries, is pleased to announce significant achievements under its ongoing investor-focused strategy. Financial Highlights and Option Partner Funding During the 2023 calendar year, Latin Metals has received non-dilutive investments with a total value of $2,080,2201, with an additional $792,0002 scheduled to be received by the end of the year, for an anticipated total of $2,872,220. The figures outlined here do not include option partner-funded exploration expenditures. \"Our strategic collaborations with mining industry leaders have brought significant investments this year while ensuring minimal equity dilution,\" commented Keith Henderson, the Company's CEO. \"Our prospect generator business model offers a unique proposition to investors, giving them the opportunity to share in our successes without the typical equity dilution risks. We're resolutely focused on unlocking the potential of our assets and creating consistent, long-term value for our shareholders.\" Mr. Henderson continued, \"We're continuously refining our business model to ensure that our investors experience the potential upsides of mineral discoveries while minimising the common share dilution risks. Through thoughtful execution, our goal is to consistently amplify value and ensure sustainable returns.\" Upcoming Milestones and Catalysts Latin Metals' option partners have submitted drill permit applications for three projects in Argentina. Following receipt of permits, the initiation of drill programs will mark key milestones as Latin Metals' partners explore the potential of the Company's diversified portfolio. Securing Future Steps and Minimizing Dilution To further the Company's objectives and maintain a sound capital base, the Company has secured loans totalling $600,000 (the \"Loans\"), subject to acceptance by the TSX Venture Exchange. The Company places a high premium on minimizing shareholder dilution, and its recent financing choices, including the Loans, align with its mission to further its corporate goals while safeguarding investor interests. The Loans have a one-year term and bear interest at the rate of 10% per annum compounded an...