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...
Osisko Metals Welcomes Victoria Vargas to the Board of Directors

Osisko Metals Welcomes Victoria Vargas to the Board of Directors

Osisko Metals Incorporated (the "Company or "Osisko Metals") (TSX: OM,OTC:OMZNF; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce the appointment of Ms. Victoria Vargas to its board of directors, effective immediately. Ms. Vargas brings over 25 years of extensive knowledge of the mining... Keep Reading...
Oreterra Announces Closing of Final Tranche of $9.7 Million Oversubscribed and Upsized Non-Brokered Private Placement

Oreterra Announces Closing of Final Tranche of $9.7 Million Oversubscribed and Upsized Non-Brokered Private Placement

Oreterra Metals Corp. (TSXV: OTMC) (OTCID: OTMCF) (OTCID: RMIOD) (FSE: D4R0) (WKN: A421RQ)("Oreterra" or the "Company") is pleased to announce that, further to its press releases of February 10, 2026, February 12, 2026, February 18, 2026, February 19, 2026 and March 2, 2026, it has closed the... Keep Reading...
Copper Quest Completes AI-Driven Analysis at Kitimat & Identifies Large Concealed Conductive Target

Copper Quest Completes AI-Driven Analysis at Kitimat & Identifies Large Concealed Conductive Target

Copper Quest Exploration Inc. (CSE: CQX,OTC:IMIMF; OTCQB: IMIMF; FRA: 3MX) ("Copper Quest" or the "Company") is pleased to announce the completion of its AI-driven geological analysis at its 100%-owned Kitimat Copper-Gold Project ("Kitimat") in northwestern British Columbia confirming a large... Keep Reading...
ILC Critical Minerals Ltd. Does Not Exercise Option to Buy Lepidico Mauritius Ltd.

ILC Critical Minerals Ltd. Does Not Exercise Option to Buy Lepidico Mauritius Ltd.

ILC Critical Minerals Ltd. (TSXV: ILC,OTC:ILHMF) (OTCQB: ILHMF) (FSE: IAH0) ("ILC" or the "Company") announces that it has not exercised, nor has it been able to extend, its option to buy 100% of Lepidico (Mauritius) Ltd. ("Lepidico Mauritius") from Lepidico (Canada) Inc. ("Lepidico Canada")... Keep Reading...
Sankamap Announces $5.0M Private Placement

Sankamap Announces $5.0M Private Placement

Sankamap Metals Inc. (CSE: SCU) ("Sankamap" or the "Company") proposes to complete a non-brokered private placement financing of up to 14,285,715 units ("Units") at a price of $0.35 per Unit for gross proceeds of up to $5 million (the "Offering"). Each Unit will consist of one (1) common share... Keep Reading...
Steadright Closes First Tranche of Unit Offering

Steadright Closes First Tranche of Unit Offering

(TheNewswire) March 2nd, 2026 TheNewswire - Muskoka, Ontario Steadright Critical Minerals Inc. (CSE:SCM,OTC:SCMNF) ("Steadright" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering"), pursuant to... Keep Reading...

Interactive Chart

Latest Press Releases

Related News