NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia, July 20, 2023 — Lode Metals Corp. (“Lode” or the “Company”) (CSE: LODE) has elected to revise the terms of its previously announced non-brokered private placement (the “Offering”). The Offering will now consist of up to 2,500,000 units of the Company (each, a “Unit”) at a price of $0.10 per Unit to raise gross proceeds of up to $250,000.
Each Unit will consist of one (1) common share (each, a “Common Share”) of the Company and one (1) Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one (1) Common Share at a price of $0.16 for a period of twenty-four (24) months after the closing date of the Offering. The net proceeds raised from the Offering will be used for general working capital purposes.
The Company no longer intends to utilize the listed issuer financing exemption for the Offering, and instead the Offering will only be open to subscribers qualifying for other available prospectus and registration exemptions. As a result, all securities issued in the Offering will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable Canadian securities laws. Readers are cautioned that the offering document previously prepared in connection with the intended reliance upon the listed issuer financing exemption should no longer be relied upon.
The Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering as permitted by applicable securities laws and the policies of the Canadian Securities Exchange.
About Lode Metals Corp.
Lode Metals is a gold exploration company focused on applying modern exploration techniques integrated with current geological models to the previous producing, high-grade Cracker Creek property located in northeastern Oregon, United States. The Cracker Creek property consolidates the contiguous, high-grade, past-producing Columbia, Eureka, Excelsior and North Pole Mines, collectively the most prolific gold producers in Oregon between 1891 and 1934.
For further information contact:
President & Chief Executive Officer
Lode Metals Corp.