NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Integral Metals Corp. (CSE: INTG | FSE: ZK9) (the “Company” or “Integral”) is pleased to announce that it intends to complete a non-brokered private placement offering (the “Private Placement”) of common shares of the Company (the “Common Shares”) at a price of US$0.70 per Common Share, for gross proceeds of up to US$2,000,000.
The Company intends to use the net proceeds of the Private Placement for expenditures on mineral exploration properties, and for general working capital purposes.
All securities issued under the Private Placement will be subject to a four-month and one-day hold period. Closing of the Private Placement will be subject to certain customary conditions, including the Company’s receipt of all necessary regulatory approvals.
The securities issued pursuant to the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Market Maker
Integral also announces that it has appointed Independent Trading Group, Inc. (Address: 420, 33 Yonge Street, Toronto, ON, Canada, M5E 1G4; Website: www.itg84.com; Contact: Chris Kaplan; Email: chriskaplan@itg84.com) (“ITG”) as a market maker for its common shares traded on the Canadian Securities Exchange (the “CSE”). As a market maker for Integral, ITG will strive to contribute to a fair and orderly market for the Company’s common shares in accordance with the policies of the CSE by buying and selling the Company’s shares on the CSE as well as other alternative Canadian trading venues. In consideration for ITG’s services, the Company will pay ITG a monthly fee of C$3,000.
Integral is an exploration stage company, engaged in the business of mineral exploration for critical minerals, including gallium, germanium, and rare earth elements, with the goal of contributing to the development of a domestic supply chain for these minerals. Integral holds properties in mining-friendly jurisdictions in Canada and the United States of America, including the Northwest Territories, Manitoba and Montana, where it has received regulatory support for its exploration efforts.
Forward-LookingInformation
Certain statementscontained in this pressreleaseconstituteforward-looking information.These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statementsrelatingtomattersthatarenothistoricalfactsareintendedtoidentifyforward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking informationrelatingto,amongotherthings,the anticipated completion of the Private Placement, the anticipated amount of proceeds therefrom and the proposed use of proceeds therefrom and ITG’s ability to contribute to a fair and orderly market for, Integral’s shares.
Various assumptions or factors are typically applied in drawing conclusions or making the forecastsorprojectionssetoutinforward-lookinginformation,including,inrespectoftheforward- looking information included in this press release, assumptions regarding the Company’s ability to complete the Private Placement and the amount of proceeds to be raised therefrom, the efficacy of ITG’s traders and market making technology and the future plans and strategies of the Company.
Althoughforward-lookinginformationisbasedonthereasonableassumptionsoftheCompany’s management, there can be no assurance that any forward-looking information will prove to be accurate.Forward-lookinginformationinvolvesknownandunknownrisks,uncertaintiesandother factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that the Company may not be able to complete the Private Placement as contemplated, or at all, and that the Company’s plans with respect to the use of any proceeds received from the Private Placement may change; the risk that ITG’s market making services may not be effective in enhancing the efficiency of the market for the Company’s shares and that the Company may discontinue its contract with ITG, whether or not ITG’s market making services are effective in enhancing the liquidity or efficiency of the market for the Company’s shares; and the risk that the Company’s business prospects and priorities may change, whether as a result of unexpected events, general market and economic conditions or as a result of the Company’s future exploration efforts, and that any such change may result in a re-deployment of the Company’s resources and efforts in a manner divergent from the Company’s current business plan or strategy.Theforward-lookinginformationcontainedinthisreleaseismadeasofthedatehereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securitieslaws. Becauseoftherisks, uncertainties andassumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
