ValOre Metals Secures $4.1 Million in Private Placement Funding

ValOre Metals Completes Successful Private Placement

ValOre Metals Corp. has successfully concluded its upsized private placement financing, bringing in gross proceeds of $4,141,522.05. This financing involves the issuance of 55,220,294 units, priced at $0.075 each, which are expected to support the company’s exploration and operational goals.

Details of the Offering

Each unit consists of a common share of ValOre and a transferable common share purchase warrant, allowing the purchase of an additional share at CDN$0.10 for a period of 36 months post-issuance. An important aspect of this offering is the potential for the company to accelerate the expiry date of these warrants based on the future trading price of the shares.

Warrant Acceleration Clause

The company has included an acceleration clause; if the 20-day volume-weighted average trading price reaches or exceeds $0.15, ValOre will have the option to accelerate the expiry date of unexercised warrants. This mechanism serves to maintain positive market momentum and can enhance shareholder value.

Use of Funds Raised

ValOre intends to utilize the net proceeds from this offering for exploring its Pedra Branca Platinum Group Elements Project located in northeastern Brazil, along with general working capital needs. The exploration is crucial for identifying further mineralization opportunities and expanding existing resources.

Involvement of Insiders

Key insiders of the company participated in this private placement transaction, acquiring a total of 42 million units, translating to over 25% of the offering. This insider participation reflects their confidence in the future potential of ValOre and demonstrates a strong commitment to the company’s growth strategy.

Regulatory Compliance and Oversight

The closing of this offering is subject to necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. The funds raised will be held under a four-month hold period, aligning with Canadian securities regulations.

About ValOre Metals Corp.

ValOre Metals Corp. engages in deploying financial resources and expertise to advance projects with significant prior investments and notable mineralization potential. Its Pedra Branca project spans over 51,096 hectares, hosting valuable deposits of platinum group elements.

Exploration Potential

The Pedra Branca project is notably significant, holding a NI 43-101 inferred resource of 2.198 million ounces of 2PGE+Au. ValOre’s management is optimistic about the project’s unexplored areas, which present opportunities for both discovery and expansion of existing resources.

Connect with ValOre Metals Corp.

For more information about ValOre's initiatives and projects, you can visit their official website or contact investor relations directly.

Frequently Asked Questions

What is the total amount raised in the private placement?

The total raised in the private placement is $4,141,522.05.

What will the funds be used for?

The funds will primarily be used for exploration activities at the Pedra Branca project and for general working capital needs.

How long are the purchase warrants valid?

The purchase warrants are valid for 36 months from the date of issuance.

Who participated in the offering?

Key insiders of ValOre Metals purchased a total of 42 million units, showcasing significant insider confidence in the company.

What’s the significance of the Pedra Branca project?

The Pedra Branca project is valuable due to its large area and significant inferred resource of platinum group elements, which presents strong exploration potential.

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