The Company has raised aggregate gross proceeds of
Each Unit consists of one common share in the capital of the
The Company intends to use the net proceeds of the Private Placement to complete geological, metallurgical and engineering studies at the Company's Berenguela Silver-Copper-Manganese project in southern
A director of the Company (the 'Interested Party') purchased or acquired direction or control over a total of 1,656,318 Units as part of the Second Tranche of the Private Placement. The placement to such
In connection with the Second Tranche, the Company issued 70,496 finder's warrants (the 'Finder's Warrants') and paid commissions of
All securities issued pursuant to the Second Tranche, including the Finder's Warrants, are subject to a hold period expiring on
None of the securities sold in connection with the Second Tranche have been and will not be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in
Agreement for Investor Relations Services
The Company announces that it has entered into an investor relations agreement (the 'IR Agreement') with
The Consultant has been engaged to heighten market awareness for the Company through social media channels. In conducting the social media program, the Consultant will create social media posts and engage in interviews with Company management.
The Company will pay the Consultant a cash fee of
The Company and the Consultant act at arm's length. The Consultant currently holds (i) 23,000 Common Shares and (iii) 11,500 Warrants with an exercise price of
The Company has an option to acquire a 100% interest in Berenguela through a binding agreement with
Berenguela hosts a potentially open-pittable silver-copper-manganese Mineral Resource close to
Silver, copper and manganese have crucial industrial applications in the clean energy and battery spaces. Copper and manganese have been designated critical metals by the US government and the
The project is less than 6km from road, rail and power lines and 4 hours from Arequipa by sealed road.
Aftermath published a Mineral Resource estimate in
Recent bench-scale metallurgical test work successfully produced commercial battery-grade 99.98% pure manganese sulphate crystals
About
Challacollo Silver-Gold project. The Company owns a 100% interest in the Challacollo silver-gold project. A NI 43-101 Mineral Resource was released on
Cachinal Silver-Gold project. The Company owns a 100% interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta. On
Contact:
Tel: 604-484-7855
Cautionary Note Regarding Forward-Looking Information
This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. 'Forward-looking information' includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities, the anticipated use of proceeds from the Private Placement and receipt of regulatory approvals with respect to the Private Placement. Generally, but not always, forward-looking information and statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will use the proceeds of the Private Placement as anticipated, and that the Company will receive regulatory approval with respect to the Private Placement. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the Company will not use the proceeds of the Private Placement as anticipated, that the Company will not receive regulatory approval with respect to the Private Placement, risks relating to the actual results of current exploration activities, availability of capital and financing, general economic, market or business conditions, and regulatory changes.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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