Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Prismo Metals Inc. ("Prismo" or the "Company") (CSE:PRIZ)(OTCQB:PMOMF) is pleased to announce that further to its news release dated June 11, 2024, the Company has closed its previously announced non-brokered private placement (the "Private Placement") for gross proceeds of $1,147,500 through the issuance of 6,750,000 units of the Company ("Units

Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share in the capital of the Company for a period of twenty-four (24) months from the date of issue at an exercise price of $0.25.

"We welcome several new investors as shareholders of Prismo Metals," said CEO Alain Lambert. "We look forward to getting the next phase of drilling on the way at our silver project Palos Verdes and finalizing the permitting for the upcoming drill campaign at our Hot Breccia copper project in Arizona."

"Completion of the financing brings us one step closer to drilling at Hot Breccia. This project is a rare opportunity to test a highly prospective target in one of the best locations possible. This is the right project at the right time, and I am personally very excited to get the drill turning to test the target our team has identified" stated Steve Robertson, President of Prismo Metals.

The Company intends to use the proceeds from the Private Placement to fund drilling at its Palos Verdes project, and for general working capital purposes. There may be circumstances, however, when, for sound business reasons, a reallocation of funds may be necessary.

In connection with the Private Placement, the Company issued an aggregate of 198,449 finder's warrants (the "Finder's Warrants") and paid finder's commissions in the aggregate of $32,441.49 to certain qualified finders. Each Finder's Warrant is exercisable for a period of 24 months from the date of issuance into one Share of the Company at a price of $0.25.

All securities issued in connection with the Private Placement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Debt Settlement Transaction

The Company also announces that it has closed its previously announced debt settlement transactions with certain creditors of the Company (the "Creditors"), pursuant to which the Company has issued to the Creditors an aggregate of 628,206 Units and 873,000 Shares, each at an issue price of $0.17, in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of approximately $255,205 (the "Debt Settlement"). All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance.

Multilateral Instrument 61-101

The Company has issued an aggregate of 136,677 Units pursuant to the Private Placement, and 250,000 Shares pursuant to the Debt Settlement, to certain "related parties" of the Company (the "Interested Parties"), in each case constituting, to that extent, a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Parties in the Private Placement and the Debt Settlement in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Private Placement and the Debt Settlement nor the securities issued in connection therewith, in so far as the Private Placement and the Debt Settlement involves the Interested Parties, exceeds 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement and the Debt Settlement as the details of the Private Placement and the Debt Settlement and the participation therein by the Interested Parties therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.

Stock Option Grant

The Company further announces that it has granted 225,000 stock options, 125,000 of which have been granted to an officer of the Company, pursuant to the Company's long-term incentive plan. Each stock option is exercisable to purchase one common share of the Company at an exercise price of $0.21 for a period of 5 years, subject to certain vesting provisions.

The foregoing securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press 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 any State in which such offer, solicitation or sale would be unlawful.

About Prismo Metals Inc.

Prismo (CSE: PRIZ) is mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).

Please follow @PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube

Prismo Metals Inc.

1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6

Contact:

Alain Lambert, Chief Executive Officer alambert@cpvcgroup.ca
Steve Robertson, President steve.robertson@prismometals.com
Jason Frame, Manager of Communications jason.frame@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the intended use of any proceeds raised under the Private Placement.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the proceeds of the Private Placement as currently anticipated.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

SOURCE: Prismo Metals Inc.



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[Video Enhanced} Prismo Metals raises money, targets 5,000 meter drill program in the heart of Arizona's Copper Belt

[Video Enhanced} Prismo Metals raises money, targets 5,000 meter drill program in the heart of Arizona's Copper Belt

(TheNewswire)

Prismo Metals Inc.

Vancouver, BC TheNewswire - June 13, 2024  Global Stocks News On June 11, 2024 Prismo Metals (CSE: PRIZ) (OTCQB: PMOMF) updated the market with three significant announcements .

1. The company has received commitments for a $1.1 million private placement of units at a price of $0.17 per unit.

2. At its Hot Breccia Copper Project (Arizona ), a drilling permit is expected this month.  The upcoming exploration program will focus on diamond drilling five holes with an expected depth of 1,000 metres each .

3. At its Palos Verdes Silver Project (Mexico), there is a plan for a two-phase, 10-hole 3,600- meter drill program .

Prismo Metals is a base and precious metals company strategically positioned to benefit from the global transition to green energy (copper & silver) and the dedollarization of international currencies (gold).


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1. Non-Brokered Private Placement

Prismo received commitments for 6,500,000 units @ $0.17 per Unit for gross proceeds of $1,105,000 expected to be finalized on or around June 18, 2024.

Each Unit comes with a half-warrant.  Each whole warrant entitles the holder to purchase one common share or Prismo for two years @ $0.25.

"We are pleased to welcome several new incoming shareholders who will be participating in the Private Placement ," stated Steve Robertson, President of Prismo Metals .

2. Hot Breccia Copper Project

The Hot Breccia property consists of 1,420 hectares, 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well-understood world-class copper mines including Morenci, Ray and Resolution .

"At the Hot Breccia property, we're out in the desert and there's not a lot around except mines and mining towns," Alain Lambert, Prismo CEO told Guy Bennett, CEO of Global Stocks News (GSN). "The two towns in the area, Hayden (pop. 500) and Winkelman (pop. 290) are steeped in the history of Arizona mining. It's a mining friendly community with an experienced workforce."

" The anticipated exploration program at Hot Breccia will focus on diamond drilling five holes with an expected depth of 1,000 metres each , for a program total of 5,000 metres ," state Robertson in the June 11, 2024 press release. "We will soon be drilling a very exciting copper target, located in a favorable jurisdiction."

The Christmas project 4 kilometers north, is a model for Hot Breccia mineralization. It is associated with intermediate intrusive rocks into favorable sedimentary rocks. There are historic drill holes from 70's and early 80's on and near the property.

"The Christmas Mine started production before World War One and operated until 1982, with a small smelter on the property," Robertson told GSN. "It produced 25 million tonnes of 1.5% copper.  Christmas is a good indicator of the type of mineralization we are searching for at Hot Breccia."


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When investors hear "copper" they typically think "Chile" "Australia" or "Peru", but Arizona, USA is a major copper producer.

"If Arizona were a country, it would be the seventh largest producer of copper in the entire world," states the Arizona Mining Association .

There are 10 major copper mines in production in Arizona.  About 75% of US copper output comes from The Grand Canyon State.

According to the 2023 Fraser Institute Mining Survey , Arizona is the 7 th best mining jurisdiction on the global investment attractiveness index , which takes into account the impact of both policy factors and mineral endowment .

Chile, by contrast, ranks 60 th on the global investment attractiveness index.


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The Arizona Copper Belt has attracted some big mining companies.

Freeport-McMoRan (NYSE: FCX) – a $70 billion global resource company headquartered in Arizona operates the Morenci Mine which employs 3,760 workers, with a direct economic impact to the state of $691 million .

The Morenci Mine is a porphyry copper deposit that has oxide, primary and secondary sulfide mineralization.

Prismo's project, Hot Breccia shows many features in common with the neighboring systems of Morenci , Ray and Resolution .

On March 4, 2024 Prismo announced that it is engaging Exploration Technologies from San Diego, California to apply xFlare, their Artificial Intelligence (AI)-Optimized drill planning solution, to the Hot Breccia Project where a number of features suggests well mineralized Arizona-style Copper Porphyry lies at depth.

Prismo ran a ZTEM survey last year that identified a large conductive anomaly directly beneath the breccia outcrops.  Prismo expects xFlare's AI technology to zero in on where and at what depth to drill.

"ZTEM gives you a clear window into what's going on at depth," Robertson told GSN. "It's also an economic filter.  Small, mildly conductive zones are not going to show up. That's good for us. We're looking for big anomalies."


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3. At Palos Verdes Silver Project (Mexico), a plan for a two-phase, 10-hole 3,600- meter drill program .

The planned drill holes at Palos Verdes will be drilled from Vizsla Silver Corp (TSXV: VZLA) concessions, adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth," states PRIZ in the June 11, 2024 PR.

The project is located in the historic Pánuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia.

The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein.  The mineralization is open in all directions and the currently planned drilling program is designed to follow it along strike and to depth.

" Immediately following closing of the Private Placement, we will mobilize our drilling crew at our Palos Verdes for our next phase of drilling," stated Craig Gibson, Prismo Co-Founder and Chief Exploration Officer, " These holes will target the Palos Verdes vein at depth."

The Company completed its third drill campaign last year with 2,923 meters drilled in 15 holes with high grade mineralization encountered in several holes.

Assays included hole PV-23-25 with 102 g/t gold , 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent.


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Prismo Metals recently gave a presentation at the Deutsche Goldmesse conference in Germany, hosted by Soar Financial Partners.

"The Arizona Copper Belt is one of the most productive copper belts on the face of the planet," Robertson told the conference attendees in Frankfurt. "We're surrounded by world class deposits."

"One hundred kilometers to the east of our property, is Morenci which has a 75-billion-pound copper endowment," continued Robertson, "Forty kilometers to the north is Resolution which has 1.6 billion tons of 1.6% Copper. Morenci and Resolution are important to the thesis driving our exploration objectives at Hot Breccia."


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The global industrial shift towards renewable energy, electric vehicles, and the burgeoning AI sector has boosted copper's demand outlook.

"Copper is the most compelling trade I have ever seen in my 30-plus years of doing this," stated Carlyle chief strategy officer, Jeff Currie . The price of copper has risen 20% in 2024.  Currie expects it to reach $15,000 a ton in the next couple of years, about a 45% gain.

"S&P Global forecasts that copper demand will double, reaching 50 million metric tons by 2035," reports Euro News on May 15, 2024 . "The most significant demands are expected to emanate from the US, China, Europe, and India."

Prismo's Hot Breccia Copper Project in Arizona is designed meet future copper demand.

Disclaimer: Prismo Metals paid GSN CND $1,500 for the research, creation and dissemination of this content.

Contact: guy.bennett@globalstocksnews.com

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Copyright (c) 2024 TheNewswire - All rights reserved.

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Prismo Metals Announces Private Placement, Debt Settlement and Exploration Update

Prismo Metals Announces Private Placement, Debt Settlement and Exploration Update

HIGHLIGHTS

  • Prismo Metals has received commitments for a $1.1 million private placement of units at a price of $0.17 per unit.
  • Hot Breccia Copper Project (Arizona):
    • Permit expected this month.
    • Upcoming exploration program to focus on diamond drilling five holes with an expected depth of 1,000 metres each.
  • Palos Verdes Silver Project (Mexico):
    • Planning to drill approximately 3,600 meters in ten holes to be completed in two phases.
    • These holes will be drilled from Vizsla Silver Corp. concessions adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth.

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Prismo Metals Strengthens Management Team

Prismo Metals Strengthens Management Team

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (FSE: 7KU) ("Prismo" or the "Company") is pleased to announce the appointment of Steve Robertson as President of the Company. Mr. Robertson has been a technical advisor to Prismo since January 2023. Alain Lambert, currently the Executive Chairman of the Company will assume the role of CEO.

The board of Prismo believes that this is the right time to add to the management team with the anticipated increasing activity at the Company's exploration projects this year, in particular an upcoming drilling campaign at its Hot Breccia copper prospect located in Arizona.

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Prismo Metals Announces Frankfurt Stock Exchange Listing

Prismo Metals Announces Frankfurt Stock Exchange Listing

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (FSE: 7KU) ("Prismo" or the "Company"), is pleased to announce the listing of the Company's common shares on the Frankfurt Stock Exchange ("FSE") under the trading symbol "7KU". Prismo Metals shares are also cross listed on the Canadian Securities Exchange (CSE: PRIZ) and on the OTCQB in the United States (OTCQB: PMOMF).

The Frankfurt Stock Exchange is one of the world's largest international trading centers for securities. Operated by the Deutsche Boerse AG, the FSE is the largest of Germany's seven stock exchanges and is responsible for approximately 90% of all securities traded in Germany. The FSE facilitates advanced electronic trading, settlement and information systems and enables cross-border trading for international investors.

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Prismo Metals Announces Closing of Debt Settlement and Private Placement

Prismo Metals Announces Closing of Debt Settlement and Private Placement

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce that it has completed its previously announced debt settlement with certain creditors of the Company (the "Creditors"), pursuant to which the Company has issued to the Creditors an aggregate of 2,833,690 Common Shares at a price of $0.17 per Common Share in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of approximately $481,727 (the "Debt Settlement"). All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance.

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Zodiac Gold Adds Top Mining Analyst to Advisory Board

Zodiac Gold Adds Top Mining Analyst to Advisory Board

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company") is proud to announce the appointment of Ryan Hanley to its Advisory Board. Mr. Hanley brings a wealth of experience and expertise to the company, with an impressive career spanning over 15 years in the mining and capital markets sectors. Adding a well-respected sell-side mining analyst like Mr. Hanley to the Company's Advisory Board is highly strategic for Zodiac Gold as his insights will provide critical guidance in our efforts to optimize the Company's investment appeal. Mr. Hanley will be joining Renaud Adams, current CEO of IAMGOLD Corp. (NYSE: IAG), and Michael Demeter, Managing Director of Fort Capital, on Zodiac Gold's Advisory Board.

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Zodiac Gold Announces Closing of Second Tranche of Non-Brokered Private Placement and Further Upsizing of Private Placement

Zodiac Gold Announces Closing of Second Tranche of Non-Brokered Private Placement and Further Upsizing of Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that it has closed the second tranche of its private placement (the "Offering") for gross proceeds of approximately CAD$506,560.00 (the "Second Tranche"), as previously announced on May 6, May 23, and June 25, 2024. The Company intends to use the net proceeds from the Offering to continue exploration and drilling at its flagship Todi Gold Project in the Republic of Liberia, West Africa and for working capital purposes.

In the Second Tranche the Company issued 5,065,600 units of the Company (the "Units") at a price of CAD$0.10 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share (a "Warrant Share") at a price of CAD$0.20 per Warrant Share for a period of 24 months following the closing date of the Second Tranche.

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Horizon Minerals Limited  Paddington Ore Sale Extension to Satisfy CP's

Horizon Minerals Limited Paddington Ore Sale Extension to Satisfy CP's

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) wishes to update the market on progress for the achievement of Conditions Precedent (CP's) pursuant to the Binding Term Sheet - Ore Sale Agreement (Term Sheet) between Paddington Gold Pty Ltd (PGPL) and Horizon Minerals Limited (Horizon) dated 3 May 2024 to treat 1.4Mt of Horizon ore from the Boorara Gold Project.

The Company and AMC Consultants have been working hard to complete the CP's pursuant to the Term Sheet during the past 45 business days, as there has been numerous iterations of mine plan optimisations, mine designs, and schedules leading to the final Ore Reserve Statement.

Discussions with Paddington representatives continue to be open and conducive to the completion of CP's and a long term relationship. As a result, Paddington Gold Pty Ltd (a wholly owned subsidiary of Norton Gold Fields Ltd) have provided an extension to the initial 45 business days, for a further 15 business days.

A second round of mining and haulage tenders based on a revised mine schedule went out last week, with submissions due on Friday 5 July 2024, most of the tender submissions have been received.



About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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Alma Gold Closes Private Placement and Announces Debt Settlement

Alma Gold Closes Private Placement and Announces Debt Settlement

Alma Gold Inc. (CSE: ALMA) ("Alma Gold" or the "Company") announced that further to its June 21, 2024 news release, it has closed the non-brokered private placement and issued 6,100,000 units ("Units") at a price of $0.05 per Unit for gross proceeds to the Company of $305,000 (the "Private Placement"). Each Unit is comprised of one common share (each a "Share") and one transferable common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.08 for a period of three (3) years from issuance.

Proceeds received from the Private Placement will be used for general working capital purposes and to settle certain debts of the Company.

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RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program

RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program

Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A3DB6A) ("Rua Gold" or the "Company") is pleased to provide an exploration update for the Reefton Project on the South Island of New Zealand .

Permit and Land Access Agreements for drilling have been extended for a further 5 years

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Coeur Commences Drilling at Silver North's Tim Project

Coeur Commences Drilling at Silver North's Tim Project

(TheNewswire)

Silver North Resources Ltd.

Vancouver, BC, July 3, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that the 2024 drilling program at the Tim Property, under option to Coeur Mining, Inc. ("Coeur" NYSE-CDE) has commenced. Coeur is funding and operating the program under an option agreement to earn up to an 80% interest in the property. Current plans are to complete approximately 2,000 metres of drilling targeting silver-lead-zinc Carbonate Replacement Deposit (CRD) mineralization similar to that found at Coeur's Silvertip Mine Property, 19 km to the south of Tim.

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