Each Unit consists of one common share in the capital of
In connection with the closing of the Financing, the Company paid finder’s fees on a portion of the Financing to
Certain officers, directors and a control person of the Company (collectively, the “Related Parties”) participated in the Financing pursuant to the terms described above, purchasing in aggregate 4,300,000 Units. These constitute related party transactions pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as at the closing of the Financing, neither the fair market value of the Units issued in connection with the Financing, nor the fair market value of the consideration received by the Company for same, insofar as it involved the Related Parties, exceeded 25% of the Company’s market capitalization.
The proceeds from the Financing will support continued exploration and generative activities across our project portfolio in
Recap of Key Projects and Strategic Initiatives for 2024.
Exploration Projects
Generative work is at the core of Latin Metals’ process and, in a sense, is the most important step. Identifying, acquiring, and advancing exploration projects must be done right to attract quality exploration projects.
- District-Scale Copper Exploration Initiative:
Latin Metals continues to assemble district-scale exploration holdings prospective for sediment-hosted copper. The recently acquired 68,000-hectareTerraza Copper Project forms a significant part of Latin Metals’ broader exploration efforts, encompassing over 500,000 hectares dedicated to sediment-hosted copper exploration across the region.The Terraza Copper Project acquisition underscores our strategic commitment to discovering and developing large-scale copper resources, leveraging our extensive expertise and first-mover presence in this emerging and highly prospective belt. - Project Pipeline: The Company is continually reviewing new opportunities for acquisition with a view to maintaining a healthy pipeline of projects. Companies or individuals holding projects in
Peru orArgentina are invited to contactLatin Metals management via our website here.
Partner-Ready Projects
The Company has various projects available for option, some of which are summarized below. Each project has a dedicated presentation on the
- Esperanza Copper-Gold Porphyry,
Argentina : The Esperanza copper-gold porphyry project is an advanced exploration project where more than$4.5 million dollars have been deployed byLatin Metals to explore the copper-gold potential of the project. More than 8,500m of diamond drilling have been completed in total, with the best intersection being 387m grading 0.57% copper and 0.27 g/t gold from the surface, with mineralization open for expansion at depth and in all directions. The Project is inSan Juan Province at an elevation of less than 3,500m; it is drill-ready, road accessible, and can be worked year-round.
Cerro Bayo Silver-Gold Epithermal,Argentina : Exploration completed by Barrick in 2022 and 2023 led to the definition of 8 drill target areas at Cerro Bayo. The project is located inSanta Cruz Province where exploration since 1990 has led to the discovery of almost 600 million ounces of silver and approximately 20 million ounces of gold.- LacshaCopper Porphyry,
Peru : Since acquiring the Lacsha project through a staking initiative inPeru , the Company has efficiently moved the project through multiple phases of surface exploration, identified key drill targets, signed a 3-year agreement with local stakeholders, and secured a drill permit for testing of all targets. - Copper Project Portfolio,
Peru : In addition to the Lacsha project,Latin Metals has a diverse portfolio of exploration projects inPeru . These projects range from early-stage exploration to drill-ready and are available for option.
The Organullo project where an existing option agreement with
As previously reported, AngloGold has completed an airborne geophysical survey collecting magnetic and radiometric data over most of the Project area and this extensive geophysical survey is a significant step for the Organullo project. The data and interpretation will be integrated with existing data collected by AngloGold to help finalize drill targets. AngloGold Ashanti has submitted a drill permit for 11,900m and plans to commence drilling once this permit and other licenses are received.
Qualified Person
The technical content of this release has been approved for disclosure by
About
On Behalf of the Board of Directors of
“
President & CEO
For further details on the Company readers are referred to the Company’s web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Suite 890
Phone: 604-638-3456
E-mail: info@latin-metals.com
Neither
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
Source:
2024 GlobeNewswire, Inc., source