In This Article:
Cardston, Alberta--(Newsfile Corp. - May 9, 2025) - Affinity Metals Corp. (CSE: AFF) (the "Company" or "Affinity Metals") announces that it proposes to undertake an up to $180,000 non-brokered private placement (the "Offering") of up to 12,000,000 units (the "Units") to be sold to eligible purchasers at a price of $0.015 per Unit. The Company has filed for and received price protection for this financing from the Canadian Securities Exchange ("CSE"). Each Unit will consist of one common share of the Company and one common purchase warrant. Each warrant will entitle the holder to purchase one common share of the Company at a price of $0.05 at any time on or before that date which is 3 years after the closing date of the Offering. The proceeds received from the sale of the Units will be used to pay outstanding trade payables, legal fees, audit fees, and general working capital.
The Units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. The Company may pay finders' fees to eligible finders in connection with the Offering. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance.
It is anticipated that insiders of the Company may participate in the Offering. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such insider participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on any of the exchanges or markets outlined in subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders is not expected to exceed 25% of the Company's market capitalization.
About Affinity Metals Corp.:
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America.
ON BEHALF OF AFFINITY METALS CORP.
"Robert Edwards"
Robert Edwards, President & CEO
The Company can be contacted at: info@affinity-metals.com
Further information about Affinity Metals can be found on its website at: www.affinity-metals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.