Image source: Shutterstock

Highlights:

  • Neotech Metals plans to raise up to $1 million through a non-brokered private placement offering.
  • Each $0.15 unit includes one common share and a two-year warrant exercisable at $0.25.
  • Net proceeds will support exploration activities and general corporate purposes.

 Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) has announced its intention to undertake a non-brokered private placement for gross proceeds of up to $1 million. The financing, expected to close on or around June 26, 2025, will be conducted in one or more tranches and is subject to approval by the Canadian Stock Exchange (CSE).

The offering consists of up to 6,666,666 units priced at $0.15 per unit. Each unit comprises one common share and one warrant, allowing the holder to acquire an additional share at $0.25 for a period of two years. An acceleration clause applies: if the company’s share price exceeds $0.40 for 10 consecutive trading days, Neotech may shorten the warrant expiry to 30 days.

All securities issued under the offering will carry a four-month and one-day hold period from the date of issuance, as required under applicable Canadian securities laws. The securities will be offered privately in select Canadian provinces and other jurisdictions, pursuant to relevant exemptions.

Neotech may pay finder’s fees to eligible parties who assist in securing subscriptions, as permitted under CSE guidelines.

According to the company, proceeds raised will fund exploration work across its various mineral projects and be allocated to general working capital. Neotech’s portfolio includes three 100% owned projects: Hecla-Kilmer in Ontario and the TREO and Foothills projects in British Columbia. The Hecla-Kilmer site is situated near existing hydroelectric infrastructure and railway access, potentially improving logistics for field activities.