In This Article:
Cardston, Alberta--(Newsfile Corp. - May 16, 2025) - Affinity Metals Corp. (CSE: AFF) (the "Company" or "Affinity Metals") is pleased to announce that it has closed its non-brokered private placement (the "Offering") previously announced on May 9, 2025. Under the Offering, the Company has issued 12,000,000 units at a price of $0.015 per unit for gross proceeds of $180,000. Please see the May 9, 2025 news release for further information on the Offering.
All securities issued under the Offering are subject to a hold period expiring September 17, 2025, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.
Certain directors and officers of the Company (the "Insiders") participated in the Offering and purchased an aggregate of 6,200,000 units for aggregate gross proceeds of $93,000. Participation by Insiders in the Offering is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders' participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the Offering by the Insiders did not exceed 25% of the fair market value of the Company's market capitalization The Company did not file a material change report at least 21 days prior to the closing of the Offering as participation of the Insiders had not been confirmed at that time.
About Affinity Metals Corp.:
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America. The Company presently holds the Regal Property near Revelstoke, British Columbia and the Windfall North Property located adjacent to Osisko's Windfall project in Quebec.
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.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on a number of key expectations and assumptions made by the Company as of the date hereof. Although the forward-looking statements contained in this news release are based on what the Company's management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such statements.