Intrepid Metals Corp. announced a non brokered private placement of aggregate up to 14,705,882 units for gross proceeds of CAD 5,000,000 on December 19, 2023. The company has issued 8,823,529 units at a price of CAD 0.34 per unit for aggregate gross proceeds of CAD 3,000,000.

The transaction included participation from new investor, Leocor Gold Inc. Each Unit consisting of one post-Consolidation common share and one common share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one additional common share at a price of CAD 0.40 for a period of 24 months from the closing date of the Offering. The company shall complete a consolidation of its common shares on the basis of one post-consolidation common share for every two pre-consolidation common shares.

The company intend to close the Offering as soon as practicable following TSX Venture Exchange approval.