RTMFF - RT Minerals Corp. Announces New Private Placement and Grants Stock Options
(TheNewswire)
Vancouver, B.C. – TheNewswire - September 23, 2021 – RT MineralsCorp. (TSXV:RTM) (OTC:RTMFF) (the “Company”) is pleased toannounce that it proposes to undertake a private placement to raisegross proceeds of up to $100,000 (the “Offering”) through the saleof up to 2,000,000 non flow-through units priced at $0.05 (the “NFTUnit”). Each NFT Unit consists of one common share and one sharepurchase warrant exercisable into one further common share at a priceof $0.065 for a term of two years.
The proceeds from the sale of the Offering will be used to pay allcontractual obligations owing by the Company, trade payables and forgeneral working capital. Finders’ fees of 8% cash and 8% warrantsexercisable at $0.07 per share for a two-year term may be paid in connection with the Offering. The Offering is subject tothe approval of the TSX Venture Exchange.
The Company previously announced private placements toraise gross proceeds of up to $670,100 on August 24, 2021 andSeptember 22, 2021, and these private placements will proceed asplanned.
A shareholder may acquire over 10% interest in theCompany upon close of the announced Offerings. The Issuer iscomplying with the disclosure, valuation and shareholder approvalrequirements of Policy 5.9 – Protection of Minority Security Holdersin Special Transactions on the basis that the fair market value of theparticipation by related parties is less than 25% of the Company'scurrent market capitalization.
Stock Options
The Company has granted 3,550,000 incentive stockoptions to directors, officers, employees and consultants of theCompany that are exercisable at $0.065 per common share over a fiveyear term, in accordance with the Company’s stock option plan. Thestock options are subject to the acceptance of the TSX VentureExchange.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSXVenture Exchange under the symbol “RTM” and has 64,742,988 commonshares issued and outstanding, of which 19,950,000 shares are held inescrow to be released over a three-year period ending July 14, 2024.The Company holds an option to acquire a 100% interest in theLink-Catharine RLDZ gold property comprised of 15 unpatented singlecell mining claims with a total area of 220 hectares in one claimblock, which is contiguous to the Company’s 100% owned 102 sq kmCatharine claim block. The above properties are located approximately22 km SSE of the Town of Kirkland Lake, Ontario. The Company alsoholds a 100% interest in the Norwalk gold property near Wawa, Ontario.
For more information on the Company and its properties,please visit the Company’s website at www.rtmcorp.com .
FOR FURTHER INFORMATIONCONTACT:
Donald (Dan) M. Clark
Chairman, President and Chief Executive Officer
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange norits Regulation Service Provider (as the term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certainforward-looking statements, which relate to future events or futureperformance (including, but not limited to, the overall size of theOffering, the proposed use of proceeds and the expected closing of anytranches thereof) and reflect management’s current expectations andassumptions. Such forward-looking statements reflect management’scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Readers are cautioned that theseforward-looking statements are neither promises nor guarantees, andare subject to risks and uncertainties that may cause future resultsto differ materially from those expected including, but not limitedto, market conditions, availability of financing, actual results ofthe Company’s exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR at www.sedar.com.These forward-looking statements are made as of the date hereof andthe Company does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
THIS NEWS RELEASE, REQUIRED BYAPPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWSSERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOTCONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOTSOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESESECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIESACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BEOFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OREXEMPT THEREFROM.
NOT FOR DISTRIBUTION TO UNITED STATESNEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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