Ramp Metals Announces $4.5M Non-Brokered Private Placement Led by Strategic Investor Eric Sprott

Ramp Metals Announces $4.5M Non-Brokered Private Placement Led by Strategic Investor Eric Sprott

Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce a non-brokered private placement financing of up to approximately $4,500,000 (the "Offering"). The Offering will be led by Eric Sprott.

The Offering is expected to consist of the issue and sale of:

  • Up to 3,846,153 charity flow-through common shares (the "CFT Shares") at a price of $0.78 per CFT Share for gross proceeds of up to approximately $3,000,000; and

  • Up to 2,727,272 common shares (the "Common Shares") at a price of $0.55 per Common Share for gross proceeds of up to approximately $1,500,000.

The proceeds from the issuance of CFT Shares of the Offering will be used for exploration expenses at the Company's Rottenstone SW property in Saskatchewan.

The proceeds from the sale of the Common Shares will be used for both exploration expenses and general working capital. The Offering is scheduled to close on or about August 8, 2024.

The CFT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), and (ii) as "flow-through mining expenditures" (as defined in subsection 127(9) of the Tax Act) (collectively, the "Qualifying Expenditures").

The closing of the Offering is subject to certain conditions, including the approval of the TSX Venture Exchange (the "TSXV"). Finder's fees may be paid in accordance with TSXV policies. All securities issued in connection with the Offering will be subject to a hold period in Canada of four months plus one day.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

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.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the completion of the Offering and the Company's exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Ramp Metals Inc.

Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com

Prit Singh
Director
905 510 7636

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216826

News Provided by Newsfile via QuoteMedia

RAMP:CC
The Conversation (0)
Ramp Metals (TSXV:RAMP)

Ramp Metals

Battery metals exploration company focused on mining assets in Saskatchewan

Battery metals exploration company focused on mining assets in Saskatchewan Keep Reading...
Metalsource Mining Intersects 1.1kg/t AgEq over 3.1m, Continues Identifying Widespread Polymetallic Mineralization While Expanding the Dip Length of the System Approximately 260m from Surface

Metalsource Mining Intersects 1.1kg/t AgEq over 3.1m, Continues Identifying Widespread Polymetallic Mineralization While Expanding the Dip Length of the System Approximately 260m from Surface

Metalsource Mining Inc. (CSE: MSM,OTC:MSMMF) (OTCQB: MSMMF) (FSE: E9Z) (the "Company" or "Metalsource") is pleased to announce recently received assay results from ongoing exploration drilling at the Silver Hill Project, located approximately 15km south of Lexington, NC. Drill hole SH26-08... Keep Reading...
Positive assay results at Golden Eye point to growth in Indicated Resources

Positive assay results at Golden Eye point to growth in Indicated Resources

Chibougamau Copper-Gold Project, Canada HIGHLIGHTS: Infill drilling at Golden Eye has returned high-grade gold intervals of up to 105.5g/t AuEq over 1.0m, alongside copper grades of up to 11.9% Cu over 0.8m Results reported today reconcile well against the block model and confirm continuity of... Keep Reading...
Los Andes Copper Satisfies Remaining Obligations Under US$5 Million Convertible Debenture

Los Andes Copper Satisfies Remaining Obligations Under US$5 Million Convertible Debenture

Los Andes Copper Ltd. (TSXV: LA,OTC:LSANF) (OTCQX: LSANF) ("Los Andes" or the "Company") announces, further to its news release dated March 18, 2026, that the Company has issued an aggregate of 80,071 common shares of the Company ("Common Shares") at a deemed price of CAD$10.82 per Common Share... Keep Reading...
Anteros Metals Advances Seagull Project Targeting Natural Hydrogen, Helium and PGE Mineralization and Engages Chibougamau Drilling

Anteros Metals Advances Seagull Project Targeting Natural Hydrogen, Helium and PGE Mineralization and Engages Chibougamau Drilling

Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce the advancement of its Seagull Property in northwestern Ontario, targeting natural hydrogen, helium and platinum group element (PGE) mineralization within a large-scale mafic–ultramafic intrusive system. The... Keep Reading...
Questcorp Mining Accelerates Phase 2 Exploration at La Union Following New Gold Discovery

Questcorp Mining Accelerates Phase 2 Exploration at La Union Following New Gold Discovery

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to provide an update on its Phase 2 exploration program at the La Union Project in Sonora, Mexico, as the Company builds on the momentum of its recent sediment-hosted gold discovery at... Keep Reading...
Trading Halt

Trading Halt

AuKing Mining (AKN:AU) has announced Trading HaltDownload the PDF here. Keep Reading...

Interactive Chart

Latest Press Releases

Related News