RTMFF - RT Minerals Corp. Announces Private Placements
(TheNewswire)
Vancouver, B.C. - TheNewswire – August 24, 2021 – RT MineralsCorp. (TSXV:RTM) (OTC:RTMFF) (the “Company”) is pleased toannounce that it proposes to undertake private placements to raisegross proceeds of up to $527,000 (the “Offering”). The Companyproposes the sale of up to 2,500,000 non-flow-through units priced at$0.05 (the “NFT Units”) to raise up to $125,000 and up to6,700,000 flow-through units priced at $0.06 (the “FT Units”) toraise up to $402,000. Each NFT Unit consists of one common share andone share purchase warrant exercisable into one further common shareat a price of $0.06 for a term of two years. Each FT Unit consists ofone flow-through common share and one share purchase warrantexercisable into one further common share at a price of $0.06 for aterm of two years. Insiders may subscribe for up to $100,000 of theOffering.
The Offering will be conducted under available exemptions from theprospectus requirements of applicable securities legislation andparticipation in the Offering will be available to existingshareholders in qualifying jurisdictions in Canada in accordance withthe provisions of BC Instrument 45-354 (the “Existing ShareholderExemption”) and similar provisions in other jurisdictions’securities legislation and will be available to persons in qualifyingjurisdictions in Canada who have obtained advice as to the suitabilityof the investment from a person registered as an investment dealer inaccordance with the provisions of BC Instrument 45-536 and similarprovisions in other jurisdictions’ securities legislation.
The Company has set a record date of August 24, 2021 for the purposeof determining shareholders entitled to participate in the Offering inreliance on the Existing Shareholder Exemption. Qualifyingshareholders who wish to participate in the Offering should contactthe Company as detailed below.
The proceeds from the sale of the flow-through portion of the Offeringwill be used for exploration activity on the Company’s 100% optionedand/or owned Catharine Properties near Kirkland Lake, Ontario. Theproceeds from the sale of the non-flow-through portion of the Offeringwill be used to pay all contractual obligations owing by the Company,trade payables and for general working capital.
Finders’ fees of 8% cash and 8% warrants exercisable at $0.07 pershare for a two year term may be paid in connectionwith the Offering. The Offering is subject to the approval of theTSX Venture Exchange.
Donald (Dan) M. Clark, the President and CEO of theCompany, comments: “TheCompany will primarily focus on stripping the gold bearing GreenCarbonate Zone at surface and other known near surface targets as wellas follow up drilling on the 100% optioned Link-Catharine propertylocated 25 km SSE of Kirkland Lake, Ontario, Canada. TheLink-Catharine property is contiguous to the 102 sq km of mineralclaims acquired in June 2021 by the Company in this part of theAbitibi greenstone belt now totalling 104 sq km of mineral claimscontrolled by RTM. This entire region of the south-western portion ofthe Abitibi greenstone belt is becoming very active. RTM hasencountered significant gold mineralization on the Link-Catharineproperty over the past nine months. Northstar Gold Corp.(“Northstar”), located about 3 km north from the entire 104 sq kmRTM Catharine claim block, has recently announced significant goldintercepts from its drilling and has initiated a significantexploration program on its properties. Kirkland Lake Gold Corp. hasacquired 9.9% of the common shares of Orefinders Resources Inc.(“Orefinders”) as well as entered into a $60 million strategicalliance with Orefinders. The Orefinders property is located about 3km from the RTM 104 sq km block. RTM is the largest claim holder inthis under explored region of the Abitibi greenstone belt of Ontario,which represents a newly emerging Canadian gold exploration campinvolving both major and junior gold companies. In an effort toadvance exploration on the Company’s Catharine properties in asignificant manner over a multi-year period, the Company will now seek an Option / JointVenture partner on its entire 104 sq km mineral claims in thisarea.”
The Company cautions that mineralization on propertiesheld by RTM may not be indicative or comparable to gold mineralizationon adjacent properties, including but not limited to, those held byNorthstar and/or Orefinders.
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 SELLSECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THESECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTEREDUNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANYSTATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITEDSTATES OR TO U.S. PERSONSUNLESS REGISTERED OR EXEMPT THEREFROM.
NOT FORDISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATIONIN THE UNITED STATES
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