Latin Metals Receives C$1.875 Million from Warrant Exercises
Latin Metals also reported that its market capitalization rose from approximately $7 million to $35 million over 24 months.
Rhea-AI Summary
Latin Metals (LMSQF) received C$1.875 million after holders exercised all common-share purchase warrants in a tranche. The tranche comprised 12,500,000 warrants exercisable at $0.15 per common share. Following the exercises, Latin Metals will have 151,565,650 common shares issued and outstanding, with 12,095,454 warrants remaining at an exercise price of $0.20.
From September 2024 to September 2026, scheduled cash payments under the company’s option agreements rose from approximately $2.5 million to $21 million, while aggregate drilling metres under those agreements rose from 15,000 to 195,000. Total potential investment under the agreements, including estimated drilling expenditures, rose from approximately $16 million to $179 million. Future payments and drilling depend on the agreements continuing and partners advancing them; these totals are not a forecast of amounts Latin Metals will receive.
Latin Metals also corrected its June 29, 2026 announcement: 400,000 stock options were granted solely to consultants, not directors or officers. The other grant terms are unchanged.
Negative
- 12,500,000 warrants exercised at $0.15 per common share
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights 24 Months of Value Creation
VANCOUVER, British Columbia, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") (TSXV: LMS) (OTCQB: LMSQF) is pleased to announce that holders of the Company's outstanding common share purchase warrants have exercised
The warrant exercises provide Latin Metals with a meaningful addition to its treasury without undertaking a new equity financing and substantially reduces the Company's near-term warrant overhang. The additional capital further strengthens Latin Metals' financial position at a time when significant exploration expenditures across its portfolio are being funded at the project level by strategic partners under the Company's prospect generator model.
Keith Henderson, President and CEO of Latin Metals, commented:
"The exercise of
Over the past two years, Latin Metals has significantly expanded the scale of partner-funded exploration and investment across its portfolio, increasing estimated total investment under option agreements from approximately
Following the exercise of the September 2026 warrants, the Company will have 151,565,650 common shares issued and outstanding and 12,095,454 warrants remaining outstanding at an exercise price of
Latin Metals' prospect generator strategy is designed to advance a diversified portfolio of copper, gold and silver exploration projects while securing well-funded partners to fund significant exploration expenditures at the project level. This model allows Latin Metals to maintain exposure to multiple potential discoveries while preserving capital and limiting shareholder-funded exploration expenditures.
Partner Investment Growth
Over the past 24 months, Latin Metals has substantially increased the amount of third-party capital and exploration commitments associated with its project portfolio. Between September 2024 and September 2026, total scheduled cash payments under option agreements increased from approximately
Latin Metals’ market capitalization has grown by approximately
At the same time, Latin Metals’ expenditures have remained relatively stable on an annual basis.
Figure 1: Comparison of Partner Investment in September 2024, versus September 2026, illustrating significant growth in potential partner investment, and estimated percentage increases in various investment criteria.
This growth reflects the continued execution of Latin Metals' prospect generator strategy, whereby the Company identifies and advances exploration opportunities before securing well-funded partners to assume a substantial portion of the high-cost exploration risk. The model is intended to expand shareholder exposure to multiple exploration programs while limiting the amount of Latin Metals' own capital required to fund drilling and other high-cost exploration activities.
Regarding Figure 1 above, the figures presented for scheduled cash payments, drilling commitments and estimated investment under option agreements are based on the terms of the Company's existing option agreements as at September 2026. To the extent that those figures relate to future periods, they constitute forward-looking information and assume, among other things, that the applicable option agreements remain in effect, the applicable option holders continue to advance those agreements through the relevant stages, scheduled payments are made and contractual drilling commitments are completed.
Actual results may differ materially. In particular, an option holder may elect not to proceed to a subsequent stage; an option agreement may be terminated, amended, surrendered or otherwise not completed; the timing or amount of scheduled payments may change; committed drilling may not be completed; actual drilling costs may differ materially from assumed costs; and the timing or scope of exploration programs may change. Accordingly, some or all of the cash payments, drilling commitments and estimated exploration investment illustrated in Figure 1 may not be received, completed or incurred, and the figures should not be interpreted as a forecast of amounts the Company expects to receive or expenditures that will necessarily be incurred.
Estimated investment attributable to drilling is based on assumed all-in drilling costs of approximately US
Correction to June 29, 2026 News Release
The Company wishes to correct its news release dated June 29, 2026 regarding the grant of 400,000 stock options. The news release incorrectly stated that the options were granted to certain directors, officers and consultants of the Company. The options were granted solely to consultants of the Company, and no options were granted to any directors or officers. All other terms of the option grant remain unchanged.
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. The company secures option agreements with partners to fund exploration. This approach provides early-stage exposure to high-value mineral assets. Latin Metals is actively seeking new strategic partners to advance its portfolio.
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Upcoming Events
Latin Metals is pleased to announce its participation in several industry conferences, providing a platform to connect with investors, industry leaders, and potential partners:
- New Orleans Investment Conference – New Orleans, Louisiana, USA, October 28-31, 2026
- 121 London – London, UK, November 23-24, 2026
These events offer valuable opportunities to share Latin Metals' exploration progress in Argentina and Peru, highlight the advantages of its low-dilution prospect generator model, and explore strategic investment and partnership opportunities across its gold, copper, and silver-focused portfolio.
Qualified Person
Eduardo Leon, QP, is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Leon is not independent of the Company, as he is an employee of the Company and holds securities of the Company.
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 1920 – 1188 Georgia Street,
Vancouver, BC, V6E 4A2
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 laws. All statements other than statements of historical fact may constitute forward-looking statements, including statements regarding anticipated exploration activities and results; the timing, scope and cost of exploration programs; the Company's ability to acquire additional mineral properties and enter into option, earn-in or other agreements with exploration partners; scheduled or potential cash payments, drilling commitments and exploration expenditures under existing option agreements; estimated drilling costs and aggregate potential partner investment; the continuation and performance of option agreements; and the Company's anticipated business plans and future activities.
Forward-looking statements are based on management's current expectations, estimates, assumptions and projections as of the date of this news release. Material assumptions include, where applicable, that existing option agreements remain in effect, that option holders elect to continue to advance those agreements through the applicable stages, that scheduled payments and exploration commitments are made or completed, that exploration programs proceed substantially as presently contemplated, that assumed drilling costs are reasonable, that required permits and approvals are obtained when required, and that the Company and its exploration partners have access to sufficient financing and other resources to carry out their respective activities.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, activities or events to differ materially from those expressed or implied by such statements. These risks include, among others, the risk that an option holder may elect not to proceed to a subsequent stage of an option agreement; that an option agreement may be terminated, amended, surrendered or otherwise not completed; that the timing or amount of scheduled payments may change; that committed drilling or other exploration activities may not be completed; that actual drilling and exploration costs may differ materially from estimates; that the timing, scope or results of exploration programs may change; that permits or regulatory approvals may be delayed or not obtained; changes in commodity prices, financial markets and economic conditions; availability of financing; title and permitting risks; environmental and social risks; political and regulatory risks in the jurisdictions in which the Company operates; and the other risks described under "Risk Factors" in the Company's most recently filed management's discussion and analysis and other continuous disclosure documents available under the Company's profile on SEDAR+.
Although the Company believes that the expectations and assumptions reflected in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f5c057d-0794-4df0-bd89-abe3224a22b0
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did Latin Metals receive from the warrant exercises?
Latin Metals received C$1.875 million after holders exercised all 12,500,000 warrants in the tranche at $0.15 per common share.
How did Latin Metals estimate potential investment under its option agreements?
The approximately $179 million total includes scheduled cash payments and estimated drilling expenditures. The drilling estimate uses assumed all-in costs of approximately US$500 to US$700 per metre, depending on the project. The total excludes discretionary top-up, buy-out and royalty buy-back payments.