Business
Intrepid Metals Closes Strategic 9.9% Investment
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce that pursuant to its announcement on December 18, 2025, Teck Resources Limited ("Teck") has acquired, 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...
About this update from Teck Resources Limited Class A
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce that pursuant to its announcement on December 18, 2025, Teck Resources Limited ("Teck") has acquired, 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 a 9.9% strategic equity interest in the Company on an outstanding basis.","length":660,"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 designed to expand known zones and test new targets identified by Intrepid's integrated, multi-dataset targeting. Intrepid anticipates additional mapping, geophysics, geochemical sampling and drilling at Corral in H2 2026.","length":623,"tagName":"p"},{"type":"text","content":"The Company and Teck have concurrently entered into an investor rights agreement (the "Investor Rights Agreement"). Pursuant to the Investor Rights Agreement, and subject to customary conditions and ownership thresholds, Teck will have, among other rights: (i) participation rights in future equity financings to enable Teck to maintain its pro-rata interest in the Company for up to three years and, if exercised, to increase its ownership interest to up to 15% of the Company; (ii) the right to nominate two representatives to a four-person technical committee to provide technical oversight and collaboration with respect to the Corral Copper Project, with Teck holding a tie-breaking vote; (iii) certain information rights relating to the Corral Copper Project; and (iv) a right of first refusal, for a period of 30 months, on any proposed transfer of the Company's interest in the Corral Copper Project, subject to customary exclusions.","length":955,"tagN...