Latin Metals Announces Closing of Oversubscribed Private Placement for Gross Proceeds of $1.33 Million

Rhea-AI Summary

Latin Metals (LMSQF) has successfully closed its oversubscribed non-brokered private placement, raising $1.33 million through the issuance of 12,095,454 units at $0.11 per unit. Each unit includes one common share and one warrant exercisable at $0.20 for 36 months. The company paid finder's fees to Leede Financial ($37,870 and 344,272 warrants) and Haywood Financial ($3,850 and 35,000 warrants). The proceeds will fund exploration, generative work, and working capital. Latin Metals operates under a prospect generator model in Peru and Argentina, with current partnerships including AngloGold Ashanti and Moxico Resources. The company is actively participating in investor conferences to showcase its portfolio.

Positive

• Successfully raised $1.33 million through oversubscribed private placement
• Strategic partnerships with major mining companies like AngloGold Ashanti and Moxico Resources
• Prospect generator model minimizes risk and dilution while maximizing discovery potential
• Diversified portfolio with 18 projects across Peru and Argentina

Negative

• Potential dilution from the issuance of 12,095,454 new units
• Additional dilution possible if warrants are exercised
• Four-month hold period restricts immediate trading of new shares

VANCOUVER, British Columbia, May 20, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) is pleased to announce the closing of its previously announced non-brokered private placement (the “Financing”) for aggregate gross proceeds of $1,330,499.94, through the issuance of 12,095,454 units (each a “Unit”) at a subscription price of $0.11 per Unit. Each Unit consists of one common share in the capital of Latin Metals (each, a “Share”) and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one Share at a price of $0.20 per Share for a period of 36 months from the closing of the Financing. If the volume-weighted average price of the Company’s Shares is greater than or equal to $0.30 for 15 consecutive trading days, the Company may accelerate the expiry date of the Warrants by providing written notice to the holder, in which case the warrants will expire 30 days from the date of such notice.

In connection with the closing of the Financing, the Company paid finders fees on a portion of the Financing to Leede Financial Inc. consisting of a $37,870 cash commission and 344,272 finder’s warrants, and to Haywood Financial Inc. consisting of a $3,850 cash commission and 35,000 finder’s warrants. Each finder’s warrant entitles the holder thereof to purchase one Share at a price of $0.11 per Share for a period of 12 months from the closing of the Financing.   All securities issued by the Company pursuant to the Financing are subject to a hold period of four months and one day in Canada.

The proceeds of the Financing are intended to fund exploration, generative work, and for general working capital. The closing of the Financing is subject to receipt of TSX Venture Exchange final approval.

About Latin Metals

Latin Metals Inc. is a copper, gold and silver exploration company operating in Peru and Argentina under a prospect generator model, minimizing risk and dilution while maximizing discovery potential. With 18 projects, the company secures option agreements with major mining companies to fund exploration. Current option holders include AngloGold Ashanti (Organullo Gold Project) and Moxico Resources (Esperanza & Huachi Copper-Gold Projects). This approach provides early-stage exposure to high-value mineral assets. Latin Metals is actively seeking new strategic partners to advance its portfolio.

Recent and Upcoming Conferences

Latin Metals recently presented and met with investors at two European investor events:

• 121 Mining Investment Conference – London (May 12–13, 2025)

• Deutsche Goldmesse – Frankfurt (May 16–17, 2025)

Upcoming investor conferences include:

• The Mining Event – Quebec City (June 3–5, 2025)

• The Rule Symposium on Natural Resource Investing 2025 - Florida (July 7-11, 2025)

These events provide key opportunities to showcase Latin Metals’ progress and introduce its high-quality portfolio to new strategic and institutional audiences.

Stay Connected

Follow Latin Metals on YouTube, X, Facebook, LinkedIn and Instagram to stay informed on our latest developments, exploration updates, and corporate news.

On Behalf of the Board of Directors of

LATIN METALS INC.
“Keith Henderson”
President & CEO

For further details on the Company readers are referred to the Company's website (www.latin-metals.com) and its Canadian regulatory filings on SEDAR+ at www.sedarplus.com.

For further information, please contact:

Keith Henderson

Suite 890 - 999 West Hastings Street,
Vancouver, BC, V6C 2W2

E-mail: info@latin-metals.com

Elyssia Patterson, VP Investor Relations
Email: elyssia@latin-metals.com
Phone: 778-683-4324

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

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the anticipated content, commencement, timing and cost of exploration programs in respect of the Property and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, including the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading as well as those factors discussed under the heading “Risk Factors” in the Company’s annual management’s discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.

FAQ

How much did Latin Metals (LMSQF) raise in its May 2025 private placement?

Latin Metals raised $1.33 million through an oversubscribed non-brokered private placement, issuing 12,095,454 units at $0.11 per unit.

What are the terms of Latin Metals' May 2025 private placement warrants?

Each warrant allows holders to purchase one share at $0.20 for 36 months, with potential acceleration if shares trade at $0.30 or higher for 15 consecutive trading days.

How will Latin Metals use the proceeds from its May 2025 financing?

The proceeds will be used to fund exploration, generative work, and general working capital purposes.

What is Latin Metals' business model and where does it operate?

Latin Metals operates as a copper, gold and silver exploration company in Peru and Argentina under a prospect generator model, partnering with major mining companies to fund exploration.

Who are Latin Metals' current option partners for its projects?

Current option partners include AngloGold Ashanti for the Organullo Gold Project and Moxico Resources for the Esperanza & Huachi Copper-Gold Projects.