(TheNewswire)
Vancouver, B.C. – TheNewswire - March 15, 2023 – RT Minerals Corp.(TSXV:RTM) (OTC:RTMFF) (the “Company” or“RTM”) announces that effective at the opening of marketson March 17, 2023, the Company will consolidate its common shares (the“Shares”) on the basis of one (1) post?consolidated Share forevery ten (10) pre?consolidated Shares held (the“Consolidation”). The new CUSIP number will be 74976W609 and thenew ISIN number will be CA74976W6099. The Company’s name and stocksymbol will remain unchanged following the Consolidation.
The Consolidation was approved by a resolution of the Board ofDirectors of the Company passed effective February 3, 2023 and hasreceived the approval of the TSX Venture Exchange (“TSXV”). Nofractional Shares will be issued under the Consolidation as fractionalShares will be rounded to the nearest whole number. The Companycurrently has 60,044,654 common shares issued and outstanding andimmediately following the Consolidation will have approximately6,004,465 common shares issued and outstanding.
Letters of transmittal with respect to the Consolidation will bemailed shortly to all registered shareholders of the Company. Allshareholders who submit a duly completed letter of transmittal alongwith their respective share certificate(s) representing thepre-consolidated Shares to the Company’s transfer agent,Computershare Investor Services Inc., will receive a share certificateor direct registration advice representing the post-consolidatedShares.
Private Placement
The Company further announces that it proposes to undertake anon-brokered private placement (the “Offering”) to raise grossproceeds of up to $750,000 through the sale of up to 10,000,000 units(each, a “Unit”) of the Company at a price of $0.075 per Unit. Each Unit consists of one post-consolidation common share andone-half of a share purchase warrant, with each whole warrantexercisable into one further post-consolidation common share at aprice of $0.10 for a term of 12 months.
The proceeds from the Offering will be used to pay trade payables,existing liabilities, exploration work and for general workingcapital.
Finders’ fees may be paid in connection with the Offering inaccordance with the policies of the TSXV. The Offering is subject tothe approval of the TSXV.
Directors and officers of the Company may acquire securities under theOffering, which will be considered a "related partytransaction" as defined under Multilateral Instrument 61-101("MI 61-101"). Such participation is expected to be exemptfrom the formal valuation and minority shareholder approvalrequirements of MI 61-101.
Mineral Property Update
Further to the Company’s news release dated October 27, 2022, theCompany has staked an additional five claim blocks in the TimminsTownship for a total of 21 claims forming the Timmins base metalproperty located approximately 50 km southeast of Timmins, Ontario.
The Company corrects an errata in its news release of February 14,2023. The Company announced that it has acquired 91 mineral claimsin the Case Batholith but the number of claims is 90.
The Company corrects an errata in its news release of March 2, 2023. The Company announced that it has acquired 32 mineral claims in theKenogaming and Pharand Townships but the number of claims is 38. TheCompany acquired 22 of the Kenogaming-Pharand claims directly by mapstaking and 16 of the claims will be acquired pursuant to a broaderproperty purchase agreement that was disclosed by news release onFebruary 28, 2023.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSXVenture Exchange under the symbol “RTM”. The Company holds a 100%interest in a portfolio of critical mineral, gold and base metalproperties in Ontario, including the Case Batholith group ofproperties prospective for lithium and cesium; the Ireland propertyprospective for rare earth elements; the Kenogaming, Pharand I and IIproperties prospective for nickel, chromium and cobalt; the Milligan,Blakelock and McQuibban gold properties; and the Timmins base metalsproperty. The Company also holds an option to acquire a 100% interestin the Link-Catharine RLDZ gold property located 22 km south-southeastof the town of Kirkland Lake, Ontario.
For more information on the Company and its properties, please visitthe Company’s website at www.rtmcorp.com .
FOR FURTHER INFORMATIONCONTACT:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
Telephone: 403-200-6542
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 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 FOR DISTRIBUTION TO UNITED STATESNEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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