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TheNewswire - Leocor Mining Inc. (CSE: LECR,OTC:LECRF, OTCQB: LECRF, Frankfurt: LGO0) ("Leocor" or the "Company") (formerly Leocor Gold Inc.) announces that it has exercised an aggregate of 8,823,529 warrants (the "Warrants") of Intrepid Metals Corp. (TSXV: INTR) ("Intrepid"). Â The Warrants were previously acquired by the Company as a strategic investment on January 4, 2024, as part of a private placement of units, and special warrants.
Prior to the exercise of the Warrants, the Company held 8,823,529 common shares, representing approximately 8.17% of the issued and outstanding common shares of Intrepid, and 8,823,529 Warrants. As a result of the exercise of the Warrants, the Company now holds 17,647,058 common shares representing approximately 15.09% of the issued and outstanding common shares of Intrepid. Â Following this exercise, the Company holds no Warrants or other convertible securities.
The Company has exercised the Warrants of Intrepid for investment purposes. Depending on market conditions and other factors, the Company may from time to time acquire or dispose of securities of Intrepid or continue to hold its current position.
A copy of the early warning report required to be filed with the applicable securities commission in connection with the Investment will be available on SEDAR+ at www.sedarplus.com and can be obtained by contacting the Company.
Intrepid Metals is focused on exploring for high-grade essential metals, including copper, silver and zinc, in established mining jurisdictions in southeastern Arizona, United States. The company's portfolio is anchored by the Corral copper project, an advanced exploration-stage, district-scale system with extensive drilling and significant shallow results, complemented by the Tombstone South and Mesa Well projects. Teck recently became a 14.7-per-cent equity stakeholder in Intrepid, reflecting its strategic interest in the company and its Corral project. Intrepid is led by an experienced technical and management team with a strong record of advancing and permitting projects across North America. The company trades on the TSX Venture Exchange under the symbol INTR and on the OTCQB Venture Market under the symbol IMTCF.
About Leocor Mining Inc.
Leocor Mining Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous ~2,000-hectare exploration corridor. For more information, sign up for news alerts, watch our corporate video, or view our presentation at our website.
Contact Information
Leocor Mining Inc.
Alex Klenman, Chief Executive Officer
Email: aklenman@leocorgold.com
Telephone: (604) 970-4330
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the intentions of Leocor regarding securities of Intrepid. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
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 the 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 general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that such forward-looking 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. The Company 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.
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