Intrepid Metals Engages Independent Trading Group as Market Maker

Rhea-AI Summary

Intrepid Metals Corp (TSXV: INTR) (OTCQB: IMTCF) has engaged Independent Trading Group (ITG) as its market maker to enhance trading liquidity of its common shares. Under the agreement, ITG will provide market-making services across all trading venues, with compensation set at CAD$7,500 per month. The initial one-month term is renewable and can be terminated by either party with 30 days' notice. The agreement is between unaffiliated parties, with ITG having no direct or indirect interest in Intrepid's securities. The company will fund the market-making services from existing cash reserves.

Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) -  Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group ("ITG") under the terms of a Market Making Services Agreement (the "Agreement") to provide market-making services in accordance with TSX Venture Exchange ("TSXV") policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the Agreement, ITG will receive compensation of CAD$7,500 per month, payable monthly in advance. The Agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The Agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the Agreement and ITG will not receive shares or options as compensation. ITG and the Company are arm's length, unrelated and unaffiliated entities and at the time of the Agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company. The Company will fund the compensation under the Agreement from its cash on hand.

About Independent Trading Group

Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors. ITG's head office is located at 33 Yonge Street, Suite 420, Toronto, Ontario, Canada M5E 1G4.

About Intrepid Metals Corp.

Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018¹, though mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project) both of which are located in Cochise County, Arizona and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol "INTR" and on the OTCQB Venture Market under the symbol "IMTCF". For more information, visit www.intrepidmetals.com.

INTREPID METALS CORP.
On behalf of the Company
"Ken Engquist"
CEO

For further information regarding this news release, please contact:

Ken Engquist, CEO
604-681-8030
info@intrepidmetals.com

Notes

¹ Details regarding the sale of the Taylor Deposit can be found in South32 News Release dated October 8, 2018 (South32 completes acquisition of Arizona Mining).

Cautionary Note Regarding Forward-Looking Information

Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to: the advancement of the Company's projects in Arizona; continued growth and the exploration potential of the Company's other mineral projects.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations and complete an additional drill program; the results of exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labour and materials, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices, risk related to unanticipated geological or structural formations and characteristics risks related to current global financial conditions, risks related to current global financial conditions and the impact of any future global pandemic on the Company's business, reliance on key personnel, operational risks inherent in the conduct of exploration and development activities, including the risk of accidents, labour disputes and cave-ins, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251459

FAQ

What services will Independent Trading Group provide to Intrepid Metals (IMTCF)?

Independent Trading Group will provide market-making services for Intrepid Metals, trading company shares on the TSXV and other venues to maintain reasonable market conditions and improve the liquidity of Intrepid's common shares.

How much will Intrepid Metals (IMTCF) pay ITG for market-making services?

Intrepid Metals will pay Independent Trading Group CAD$7,500 per month for market-making services, payable monthly in advance.

What is the duration of Intrepid Metals' (IMTCF) market-making agreement with ITG?

The agreement has an initial term of one month and will automatically renew for additional one-month terms unless terminated by either party with 30 days' notice.

Will ITG receive any shares or options from Intrepid Metals (IMTCF) as compensation?

No, ITG will not receive any shares or options as compensation from Intrepid Metals. The compensation is strictly monetary at CAD$7,500 per month.