Silicon Metals Corp. Issues First Aggregate Permit Option Shares and Makes Initial Cash Payment
Silicon Metals Corp (CSE: SI) has initiated its option agreement to acquire a 100% interest in Aggregate Permit AP6453 in the Sudbury Mining District, Ontario. The company has issued 500,000 common shares at $0.055 per share and made an initial cash payment of $25,000 to Geotek Exploration and Prospecting Ltd.
The remaining option payments include an additional $25,000 cash payment within 15 business days, followed by two separate issuances of 1.5 million common shares at 12 and 18 months after CSE approval. All securities issued will be subject to a four-month statutory hold period.
Silicon Metals Corp (CSE: SI) ha avviato il suo accordo di opzione per acquisire un interesse del 100% nel Permesso Aggregato AP6453 nel Distretto Minerario di Sudbury, Ontario. La società ha emesso 500.000 azioni ordinarie al prezzo di $0,055 per azione e ha effettuato un pagamento iniziale in contanti di $25.000 a Geotek Exploration and Prospecting Ltd.
I pagamenti rimanenti dell'opzione includono un ulteriore pagamento in contanti di $25.000 entro 15 giorni lavorativi, seguito da due emissioni separate di 1,5 milioni di azioni ordinarie rispettivamente a 12 e 18 mesi dall'approvazione della CSE. Tutti i titoli emessi saranno soggetti a un periodo di blocco legale di quattro mesi.
Silicon Metals Corp (CSE: SI) ha iniciado su acuerdo de opción para adquirir un interés del 100% en el Permiso Agregado AP6453 en el Distrito Minero de Sudbury, Ontario. La compañía ha emitido 500,000 acciones ordinarias a $0.055 por acción y realizó un pago inicial en efectivo de $25,000 a Geotek Exploration and Prospecting Ltd.
Los pagos restantes de la opción incluyen un pago adicional en efectivo de $25,000 dentro de 15 días hábiles, seguido de dos emisiones separadas de 1.5 millones de acciones ordinarias a los 12 y 18 meses después de la aprobación de la CSE. Todos los valores emitidos estarán sujetos a un período de retención legal de cuatro meses.
Silicon Metals Corp (CSE: SI)는 온타리오 주 서드버리 광산 지구에 위치한 집합 허가증 AP6453에 대한 100% 지분을 인수하는 옵션 계약을 시작했습니다. 회사는 주당 $0.055에 500,000 보통주를 발행하고 Geotek Exploration and Prospecting Ltd.에 초기 현금 지급액 $25,000을 지급했습니다.
남은 옵션 지불금에는 15영업일 이내에 추가 $25,000 현금 지급이 포함되며, 이후 CSE 승인 후 12개월 및 18개월에 각각 150만 보통주 두 차례 발행이 예정되어 있습니다. 발행된 모든 증권은 4개월 법정 보유 기간의 적용을 받습니다.
Silicon Metals Corp (CSE : SI) a lancé son accord d'option pour acquérir un intérêt de 100% dans le permis agrégé AP6453 situé dans le district minier de Sudbury, en Ontario. La société a émis 500 000 actions ordinaires au prix de 0,055 $ par action et a effectué un paiement initial en espèces de 25 000 $ à Geotek Exploration and Prospecting Ltd.
Les paiements restants de l'option comprennent un paiement en espèces supplémentaire de 25 000 $ dans les 15 jours ouvrables, suivi de deux émissions distinctes de 1,5 million d'actions ordinaires respectivement 12 et 18 mois après l'approbation de la CSE. Tous les titres émis seront soumis à une période de blocage légale de quatre mois.
Silicon Metals Corp (CSE: SI) hat seine Optionsvereinbarung zum Erwerb eines 100%igen Anteils an der Aggregate Permit AP6453 im Bergbaudistrikt Sudbury, Ontario, eingeleitet. Das Unternehmen hat 500.000 Stammaktien zu je 0,055 $ ausgegeben und eine anfängliche Barauszahlung von 25.000 $ an Geotek Exploration and Prospecting Ltd. geleistet.
Die verbleibenden Optionszahlungen umfassen eine weitere Barauszahlung von 25.000 $ innerhalb von 15 Geschäftstagen, gefolgt von zwei separaten Ausgaben von 1,5 Millionen Stammaktien jeweils 12 und 18 Monate nach der Genehmigung durch die CSE. Alle ausgegebenen Wertpapiere unterliegen einer gesetzlichen Haltefrist von vier Monaten.
- Strategic acquisition opportunity in the world-class Sudbury Mining District
- Structured payment terms spread over 18 months reducing immediate financial burden
- Initial payment terms met with both cash and shares
- Share dilution through issuance of up to 3.5 million common shares
- Additional cash payment of $25,000 required within 15 business days
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") announces that, further to its news release dated July 15, 2025, it has issued 500,000 common shares (each, a "Share") to Geotek Exploration and Prospecting Ltd. (the "Optionor") at a deemed price of
The balance of the payments to be made under the Option are as follows:
Pay the Optionor
$25,000 in cash within fifteen (15) business days from the Effective date of the agreementOn or before twelve (12) months following the CSE approval date, issue the Optionor 1,500,000 common shares
On or before eighteen (18) months following the CSE approval date, issue the Optionor 1,500,000 common shares
All securities issued in connection with the Option will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 – Resale of Securities.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
For more information regarding this news release and any other details regarding the Company's future plans, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, development and plans for the Permit, the issuance of the Shares to the Optionor and regulatory approvals thereof.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its plans for the development of the Permit, that the Company will receive regulatory approval for the issuance of Shares to the Optionor, and that the Company will have all the necessary resources, including personnel and capital to carry out its business plans.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company may not be able to develop the Permit as anticipated, that the Company may not receive regulatory approval for the issuance of the Shares to the Optionor, that the Company will be unable to carry out its business plans as disclosed; changes in applicable legislation impacting the Company's exploration plans; unanticipated costs; loss of key personnel; failure to raise the capital required to carry out the Company's business plans.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259529
FAQ
What is the total value of Silicon Metals Corp's (SLCNF) initial payment for the Aggregate Permit option?
How many shares will Silicon Metals Corp (SLCNF) issue for the Aggregate Permit option agreement?
What is the location of the Aggregate Permit AP6453 that Silicon Metals Corp is acquiring?
What are the remaining payment terms for Silicon Metals Corp's Aggregate Permit option?
How long is the statutory hold period for shares issued under this option agreement?
