(TheNewswire)
Vancouver, Canada – TheNewswire - February 4th, 2022 – New Age Metals Inc.(TSXV:NAM ) ( OTC:NMTLF ) ( FSE: P7J) is pleased to announce that it hasentered into a financial advisory agreement (“Agreement”) with IBKCapital Corp. (“IBK Capital”) to act as its advisor over the next12 months to assist the Company with general market outreach andinvestor awareness in order to expand NAM’s shareholder base and todevelop strategic alternatives to maximize shareholder value.
Under the terms of the Agreement IBK Capital willfamiliarize themselves with certain aspects of NAM’s operations inorder to effectively attract and identify strategic investors. Upon receipt of TSX Venture Exchange approval(“Exchange”) NAM will issue IBK Capital 3,300,000 share purchasewarrants (“Warrants”) entitling IBK Capital to purchase 3,300,000common shares (“Warrant Share”) at a purchase price of $0.10 perWarrant Share for a period of two (2) years from the date of Exchangeapproval. All securities issued will be subject to hold period offour (4) months plus one day in accordance with regulatoryauthorities.
In addition, for each substantive transaction that IBKCapital generates on behalf of NAM, the Company will provide IBKCapital a cash transaction fee of 5% which is in line with industrystandards.
About IBK CapitalCorp.
IBK Capital is an independent and privately ownedinvestment banking firm, who is at arm’s length to the Company,which offers a full range of financial advisory services. Suchservices include private placements of equity and debt, going publicby way of reverse take-over, merger, acquisition and divestitureadvisory services, valuations, fairness opinions and take-over defenceplanning. The Firm’s corporate objective is to provide the highestquality independent financial advisory services to its clients.
About NAM
New Age Metals is a junior mineral exploration anddevelopment company focused on the discovery, exploration, anddevelopment of green metal projects in North America. The Company hastwo divisions; a Platinum Group Metals (PGM) division and a Lithium /Rare Element division.
The PGM Division includes the 100% owned,multi-million-ounce, district scale River Valley Project, one of NorthAmerica’s largest undeveloped Platinum Group Metals projects,situated 100 km northeast from Sudbury, Ontario. The Company completed a positivePreliminary Economic Assessment on the Project in 2019 and is fullyfinanced to complete a Pre-Feasibility Study on the Project. Atechnical report is slated to be published by the end of the firsthalf of 2022. In addition to River Valley, theCompany is the 100% owner of the Genesis PGM-Cu-Ni Project.
NAM’s Lithium Division is one of the largest mineralclaim holders in the Winnipeg River Pegmatite Field, where the Companyis exploring for hard rock lithium and various rare elements such astantalum and rubidium. In 2021 drone geophysics were completed on atleast five of the Company’s seven projects and in October a maidendrill program on the Company’s Lithium Two Project was initiated. OnSeptember 28 th , the Company announced a partnership with Mineral ResourceLimited (MRL, ASX: MIN), the world’s fifth largest lithium producerto explore and develop the Company’s lithium projectportfolio.
Our philosophy is to be a project generator with theobjective of optioning our projects to major and junior miningcompanies to potentially develop them through to production. TheCompany is actively seeking an option / joint venture partner for itsroad-accessible Genesis PGM-Cu-Ni Project in Alaska.
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On behalf of the Board of Directors
“ Harry Barr”
Harry G. Barr
Chairman and CEO
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Cautionary Note Regarding Forward Looking Statements:This release contains forward-looking statements that involve risksand uncertainties. These statements may differ materially fromactual future events or results and are based on current expectationsor beliefs. For this purpose, statements of historical fact may bedeemed to be forward-looking statements. In addition,forward-looking statements include statements in which the Companyuses words such as “continue”, “efforts”, “expect”,“believe”, “anticipate”, “confident”, “intend”,“strategy”, “plan”, “will”, “estimate”, “project”,“goal”, “target”, “prospects”, “optimistic” or similarexpressions. These statements by their nature involve risks anduncertainties, and actual results may differ materially depending on avariety of important factors, including, among others, the Company’sability and continuation of efforts to timely and completely makeavailable adequate current public information, additional or differentregulatory and legal requirements and restrictions that may beimposed, and other factors as may be discussed in the documents filedby the Company on SEDAR (www.sedar.com), including the most recentreports that identify important risk factors that could cause actualresults to differ from those contained in the forward-lookingstatements. The Company does not undertake any obligation to reviewor confirm analysts’ expectations or estimates or to releasepublicly any revisions to any forward-looking statements to reflectevents or circumstances after the date hereof or to reflect theoccurrence of unanticipated events. Investors should not place unduereliance on forward-looking statements.
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