Interra Initiates New Exploration Program at Thane Copper-Gold Project

Interra Initiates New Exploration Program at Thane Copper-Gold Project

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to provide details of the first phase of the planned 2024 exploration program at the Thane Copper-Gold Project (the "Project" or "Thane") in North Central British Columbia.

THANE PROJECT HIGHLIGHTS

  • Large 206 square kilometer property located between Centerra Gold Inc.'s Mt. Milligan Mine and the former Kemess Mine and within the prolific Quesnel Terrane, which hosts numerous porphyry Copper-Gold mines including Copper Mountain, Mount Polley, New Afton, and Highland Valley.
  • $6 Million has been invested from 2010 to present, resulting in an extensive geological, geophysical and geochemical assay database which has recently been re-interpreted and synthesized into a coherent mineral system framework and exploration strategy.
  • The property is clearly defined by a major regional government Copper-Gold stream sediment anomaly and Interra classifies it as underexplored.
  • Target generation has identified 6 mineralized centers to date (Cathedral, Gail/Cirque, Aten, CJL, Mat, and Lake targets) within a large coherent Copper-rich porphyry mineral system spanning 20 km (Figure 1).

Visit Interra's current presentation for further detail information about Thane Project: https://interracoppercorp.com/site/assets/presentation

CURRENT WORK - HIGH-RESOULTION MULTISPECTRAL ANALYSIS:

In Q2 Interra purchased high resolution satellite imagery and topographic data and acquired additional multispectral imagery data to support planned target development. ALS GoldSpot have been retained to provide advanced processing and mineral mapping of the altered and mineralized zones using proprietary clustering algorithms to support geological observations. This work is expected to dramatically increase the efficiency and success rate of the 2024 field work.

THANE 2024 FIELD PROGRAM:

The 2024 exploration program is expected to be completed in two phases, an initial field level mineral system review completed by senior porphyry specialists in early July followed by a focussed alteration and mineralization mapping and sampling program in August.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7923/207750_66281d8b74aebbb8_002.jpg

Figure 1 - Six Copper-Gold mineralized centres (Red) across interpreted alteration footprint (Orange)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7923/207750_66281d8b74aebbb8_002full.jpg

The 2024 field program will advance the six main target areas identified to date, visit additional peripheral target zones, determine the distribution of prospective host rocks, identify and define the alteration footprints and paragenesis, characterize the known mineralization in the context of current global alkalic porphyry research and district understanding, and design any additional geophysical and geochemical surveys required in advance of drilling. The expected outcome of the programs is to provide compelling, optimized targets for future discovery drilling at Thane.

Technical information contained within this news release has been reviewed and approved by Phil Smerchanski, M.Econ.Geol., P.Geo., an advisor to the Company and a qualified person as defined by National Instrument 43-101 policy.

About Interra Copper Corp.

Interra Copper Corp. is an exploration and development company focused on creating shareholder value through the advancement of its current interests that include the Thane Copper-Gold Project in north-central British Columbia, and the Rip Copper-Molybdenum Project in north-west British Columbia. Utilizing its heavily experienced leadership team, Interra Copper continues to source and evaluate assets and projects to further generate shareholder value.

The Thane property covers approximately 206 km2 and is located within the prolific Quesnel Copper-Gold porphyry Terrane of north-central British Columbia, midway between the previously operated open pit Kemess Mine and the currently operating Mount Milligan mine. The Thane Project includes several highly prospective mineralized areas identified to date, including the Cathedral, Gail/Cirque, Aten, CJL, Mat and Lake targets that contain high-grade copper-gold mineralization which has only been partially tested by limited exploration. Interra Copper Corp. would like to acknowledge that its Thane Project is located in the traditional territories of Takla Nation and Tsay Keh Dene Nation.

The Rip Project is under option for up to an 80% earn in by Interra Copper, over a multi-year period. The property is 47 km2 in area and located in the prolific Stikine Terrane, in a Late Cretaceous host that contains significant Cu-Mo Porphyry deposits. Historical Induced Polarization (IP) geophysics has outlined a zone of high chargeability, coincident with the strong quartz sericite-pyrite alteration interpreted to suggest the potential of a mineralized porphyry alteration system at depth.

Interra Copper is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which we operate. The Company's common shares are principally listed on the Canadian Stock Exchange under the symbol "IMCX". For more information on Interra Copper, please visit our website at www.interracoppercorp.com.

On behalf of the Board of Interra Copper Corp.

"Rick Gittleman"

President, CEO & Chairman

For further information contact:

Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com

Twitter | LinkedIn

Forward-Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the closing of the Private Placement, the receipt of all necessary regulatory and other approvals, the use of proceeds from the Private Placement, and the revolving credit facility, including the terms thereof, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Interra, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks related to the Company receiving all approvals necessary for the completion of the Private Placement and revolving credit facility and the timing thereof. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Interra does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207750

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Interra Provides Rip Copper Molybdenum Project Exploration Update

Interra Provides Rip Copper Molybdenum Project Exploration Update

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to provide detail of the first phase exploration program at the Rip Copper Project (the "Project" or "Rip") in the Stikine region of British Columbia. The Rip Project is situated approximately 33 km northeast of Imperial Metals' past producing Huckleberry copper-molybdenum ("Cu-Mo") mine (see Figure 1), which is presently on care and maintenance. Imperial Metals Corporation is exploring Huckleberry and its surrounding claims for additional Cu-Mo resources.

In late 2023, the Company first announced its option agreement with ArcWest Exploration Inc. ("ArcWest") to acquire an 80% interest in ArcWest's Rip Cu-Mo project. Interra can earn the first tier of its interest in the project by completing staged exploration work totalling C$2.0 million and direct payment of C$100,000 and annual share payments over 4 years until end of 2027. Interra is currently funded for, and anticipates, it will meet and likely exceed its 2024 and 2025 obligations for the earn-in of C$300,000 and C$500,000 in expenditures respectively with the budget outlined in this 2 stage program. The initial program is staged into 2 work phases: 1) A geophysical program to define drill targets, commencing in late April and; 2) A diamond drilling program tentatively scheduled for Q3/Q4 of 2024.

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Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to issue the following letter from its Chairman, President & Chief Executive Officer, Rick Gittleman, updating shareholders on the Company's plans for unlocking value from its assets while executing on a prudent yet strategic work plan in 2024.

To our fellow shareholders of Interra Copper Corp.,

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Interra Copper Announces Securities for Debt Settlement

Interra Copper Announces Securities for Debt Settlement

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that it has entered into a securities for debt settlement agreement dated January 15, 2024 (the "Agreement") with a professional advisor of the Company.

Pursuant to the Agreement, the Company has agreed to settle debt in the amount of $34,723.05 through the issuance of 138,892 units (each, a "Unit") at a deemed price of $0.25 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a "Share") and one half (1/2) of one (1) Share purchase warrant (each whole, being a "Warrant"). Each Warrant will be convertible into an additional Share (a "Warrant Share") at an exercise price of $0.35 per Warrant Share and will expire on the date that is three (3) years following the date of issuance (the "Expiry Date"). The Expiry Date shall be subject to acceleration where the volume-weighted average trading price of the Company's common shares on the Canadian Securities Exchange is equal to or greater than $0.45 for a continuous 30-day period at any time after that date which is 4 months following their date of issue in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

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Interra Copper Announces Distribution of Securities for Debt Settlement

Interra Copper Announces Distribution of Securities for Debt Settlement

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news release of December 19, 2023, the Company has distributed an aggregate of 282,148 units (each, a "Unit") at a deemed price of $0.25 per Unit in connection with a securities for debt settlement agreement dated December 18, 2023 (the "Agreement") with a consultant of the Company, pursuant to which the Company has agreed to settle debt in the amount of $70,537.00.

Each Unit is comprised of one (1) common share in the capital of the Company (each a "Share") and one half (1/2) of one (1) Share purchase warrant (each whole, being a "Warrant"). Each Warrant is convertible into an additional Share (a "Warrant Share") at an exercise price of $0.35 per Warrant Share and will expire on the date that is three (3) years following the date of issuance (the "Expiry Date"). The Expiry Date is subject to acceleration where the volume-weighted average trading price of the Company's common shares on the CSE is equal to or greater than $0.45 for a continuous 30-day period at any time after that date which is four (4) months following the date of issuance, in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

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Interra Copper Closes Final Round of Flow-Through Private Placement Financing

Interra Copper Closes Final Round of Flow-Through Private Placement Financing

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news releases of December 7th, 15th, and 19th, 2023, it has closed the final round of its flow-through private placement financing issuing an aggregate of 880,000 flow-through shares of the Company (the "FT Shares", and each, an "FT Share") at a price of $0.29 per FT Share for aggregate gross proceeds of $255,200 (the "Final Round"). This Final Round was part of a larger offering, of which the first round closed December 15, 2023, at which time an aggregate of 3,041,397 flow-through shares of the Company were issued generating proceeds of $882,005 (the "First Round"). Together, the First Round and Final Round issuances have raised an aggregate of $1,137,205 in gross proceeds (the "Proceeds").

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Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Highlights from 2024 West Tundra Flats Drill Holes:

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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") The Company has engaged Investment-Zirkel-München ("IZM") that offers several services for German language investor awareness including news dissemination, conference calls, real-time investor forums and an active investors network throughout Europe. IZM has a select investor following that participate in both financings and open market buying. The IZM contract is for a two-year term at a cost of CAD$25,000.

IZM has a business address at Lena-Chris-Str 9, Nuebiberg, Germany. The services to be provided will be overseen by Mathias Voigt, President of the company, who can be contacted at mv@i-z-m.info. Mr. Voigt owns 150,000 shares of the Company.

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World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper " or the "Company") announces that the Company has initiated a strategic review process and has engaged Origin Merchant Partners (the "Advisor") to assist it in its review. The Advisor will work with World Copper's management and Board to evaluate a range of strategic alternatives that may be available to the Company to grow and maximize value for all shareholders (the "Engagement"). There can be no assurance that this process will result in any specific strategic plan or financial transaction and no timetable has been set for its completion. The Company does not plan to provide updates on the status of the review unless there are material developments to report.

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Heritage Mining Further Expands Land Position and Provides Exploration Update

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(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire - November 19, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce the claim package expansion at its flagship Drayton Black Lake (" DBL ")  based on experts recommendations Brett Davis and Dr. Gregg Morrison in addition to an update on the ongoing 2024 exploration program over the Ontario Project Portfolio. The Company believes the progress achieved to date represents important milestones for systematic exploration in one of the last underdevelopment greenstone belts in Northwestern Ontario.

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Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million

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Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") a North American focused copper exploration company is pleased to announce that it has entered into an agreement with Independent Trading Group ("ITG") to act as lead agent and sole bookrunner in connection with a "best efforts" private placement (the "Offering") for aggregate gross proceeds of up to $3,000,000 from the sale of the following:

  • up to 6,666,666 units of the Company (the "Units") at a price of $0.15 per Unit for gross proceeds of up to $1,000,000 from the sale of Units; and
  • up to 10,526,315 common shares of the Company (the "FT Shares", and together with the Units, the "Offered Securities") at a price of $0.19 per FT Share for gross proceeds of up to $2,000,000 from the sale of FT Shares. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada).

Each Unit issued under the Offering shall consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months from the Closing Date (as defined below).

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