ValOre Metals Secures $4.1 Million Through Private Placement

ValOre Metals Corp. Completes Upsized Private Placement

ValOre Metals Corp. (“ValOre” or the “Company”) is excited to announce that it has successfully closed its upsized non-brokered private placement, raising a total of $4,141,522.05. This significant financing was achieved through the issuance of 55,220,294 units, priced at $0.075 each, providing a substantial boost to the Company’s financial resources.

Details of the Private Placement Offering

Each unit included one common share and one transferable common share purchase warrant. These warrants allow the purchase of additional shares at CDN$0.10 up to 36 months after their issuance, with the potential for an acceleration clause based on trading performance. This means if the share price meets certain criteria on the TSX-V, the Company can shorten the expiry date of the warrants, a strategy that offers flexibility for both the investors and the Company.

Investment Usage and Future Plans

The funds garnered from this offering are intended for exploration activities at the Pedra Branca Platinum Group Elements Project in Brazil, as well as for general working capital. ValOre emphasizes the importance of these proceeds, which are earmarked to enhance the existing assets and possibly uncover new valuable mineral discoveries. The Pedra Branca project boasts significant size with exploration licenses covering over 51,000 hectares and is noted for its rich mineralization potential.

Participation and Regulatory Compliance

In this round of funding, several directors and officers participated, acquiring 42,000,000 units. This insider involvement raises their stake to approximately 25% of the offering, which qualifies it as a related party transaction, subject to specific regulatory scrutiny. Adherence to TSX-V Policy 5.9 and MI 61-101 guidelines ensures transparency and protection for minority shareholders.

ValOre Metals Corp. Overview

ValOre Metals Corp. is recognized for its strategic acquisition and development of mineral resources. The Company is dedicated to employing innovative exploration techniques and capitalizing on the substantial prior investments made by previous project owners. The Pedra Branca project has shown promising estimates, with a 2022 NI 43-101 inferred resource of 2.198 million ounces of platinum group elements and gold, highlighting its potential for future growth and exploration.

Exploration Potential of Pedra Branca

The Pedra Branca Platinum Group Elements Project comprises multiple distinct deposit areas, indicating not only the presence of valuable minerals but also the possible expansion of these resources. ValOre’s current team of experts is optimistic about the exploration prospects, and they believe that through continued efforts, significant mineral resources can be identified and developed.

Investor Relations and Communication

For stakeholders and interested investors, ValOre Metals Corp. provides comprehensive updates on its operational progress and business strategies. The Company encourages engagement and inquiries through its investor relations office available via email and phone.

Frequently Asked Questions

What was the amount raised in the private placement?

ValOre Metals Corp. raised a total of $4,141,522.05 through its upsized non-brokered private placement.

What are the intended uses for the funds raised?

The proceeds will primarily be used for exploration efforts at the Pedra Branca project and as general working capital.

How many units were issued in the offering?

In total, 55,220,294 units were issued at a price of $0.075 each.

Who participated in the offering?

Several directors and officers of ValOre participated, acquiring a combined total of 42,000,000 units.

What is the significance of the Pedra Branca project?

Pedra Branca is a vital asset for ValOre, hosting high potential for platinum group elements and gold, with significant size and extensive exploration licenses.

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