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...
Renforth Resources to Attend the ArcStone Kingswood Growth Summit 2026 in Toronto

Renforth Resources to Attend the ArcStone Kingswood Growth Summit 2026 in Toronto

Renforth Resources Inc. (CSE: RFR,OTC:RFHRF) (OTC Pink: RFHRF) (FSE: 9RR) ("Renforth" or the "Company") is pleased to announce its participation in the upcoming 3rd Annual ArcStone Kingswood Growth Summit in Toronto, taking place on September 16, 2026, at the Sheraton Center Toronto Hotel.... Keep Reading...
Sankamap Advances Kuma Drill Program with Second Target Underway

Sankamap Advances Kuma Drill Program with Second Target Underway

Sankamap Metals Inc. (CSE: SCU,OTC:SKMPF) ("Sankamap" or the "Company") is pleased to provide an update on its ongoing 2,000 to 3,000-meter ("m") drill program at the 4,500-hectare ("ha") Kuma Property ("Kuma") in the Solomon Islands.The Company has successfully completed its first drill hole,... Keep Reading...
Noble Closing Purchase of North Bradshaw Property

Noble Closing Purchase of North Bradshaw Property

(TheNewswire) TORONTO TheNewswire - September 15, 2026 Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV: NOB,OTC:NLPXF) (OTCQB: NLPXF) is pleased to announce that having received approval of the TSX Venture Exchange, it is proceeding with the closing under its previously announced... Keep Reading...
Issue of Shares and Cleansing Notice

Issue of Shares and Cleansing Notice

Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has today issued a total of 24,144,665 fully paid shares ("Shares") upon exercise of 21,335,872 vested performance rights and 2,888,751 vested share rights issued under the Company's previous Employee Securities Incentive Plan and... Keep Reading...
Raptor Realises $468K in Non-Dilutive Funding

Raptor Realises $468K in Non-Dilutive Funding

Raptor Metals (RAP:AU) has announced Raptor Realises $468K in Non-Dilutive FundingDownload the PDF here. Keep Reading...
Homeland Announces Non-Brokered Private Placement is Fully Subscribed

Homeland Announces Non-Brokered Private Placement is Fully Subscribed

(TheNewswire) Toronto, Ontario TheNewswire - September 14, 2026 Homeland Nickel Inc. (TSXV: SHL,OTC:SRCGF; OTCQB: SRGCF) ("Homeland" or the "Company") is pleased to announce that, further to its news release dated August 26, 2026, its previously announced non-brokered private placement financing... Keep Reading...

Interactive Chart

Latest Press Releases

Related News