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Edmonton, Alberta--(Newsfile Corp. - September 16, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce that the non-brokered private placement financing (the "Offering") previously announced by the Company on September 11, 2024, is now oversubscribed and, as a result, the Company has upsized the Offering. The Company now proposes to issue up to 20,000,000 units (the "Units") at a price of C$0.02 per Unit for gross proceeds of up to $400,000. Each Unit comprises one common share (a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one additional Share of the Company at an exercise price of $0.05 for a period of one year from the closing date of the Offering.
Certain insiders of the Company will participate in the Offering. Finder's fees may be payable on a portion of the Offering. All securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada. The Offering is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The net proceeds of the Offering will be used to complete the purchase agreement for the Palta Dorada property, and for general working capital requirements, which includes development at the recently acquired Mercedes property.
The Company is also pleased to announce that the management cease trade order issued against the Chief Executive Officer and Chief Financial Officer of the Company in respect of the late filing of the annual financial statements, related MD&A and officer certificates for the period ended March 31, 2024 has been revoked and is no longer in effect as of September 12, 2024.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration, Mining and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange : Symbol "PER", and the OTCQB Venture Market: Symbol "DUVNF".
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290 or Justin Bourassa Tel: (780) 218-7704
Website: www.peruvianmetals.com