Medford, Wisconsin--(Newsfile Corp. - April 15, 2025) - GreenLight Metals Inc. (TSXV: GRL) ("GreenLight" or the "Company") is pleased to announce that further to its press release dated April 8, 2025 that it has closed a non-brokered private placement consisting of 1,650,000 units (the "Units") at a price of $0.30 per Unit for aggregate gross proceeds of $495,000.10 (the "Unit Offering"). Each unit will consist of one common share in the capital of GreenLight (a "Share"), and one-half of one share purchase warrant in the capital of GreenLight (each whole warrant, a "Warrant"). The Warrants are governed by the terms of a warrant indenture dated January 30, 2025 between GreenLight and TSX Trust Company, among others. Each Warrant is exercisable by the holder thereof into one Share at a price of $0.45 until April 8, 2028.
The net proceeds from the Unit Offering will be used for the exploration of the Company's mineral projects, and for working capital and general corporate purposes. The Units will be subject to a statutory hold period pursuant to applicable Canadian securities laws.
No bonus, finder's fee, commission, agent options or other compensation was paid in connection with the Unit Offering.
In connection with the closing of the Unit Offering, 50,000 Units were subscribed for by a related party of the Company (as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The participation of the related party in the Unit Offering constitutes a "related party transaction" within the meaning of MI 61-101. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 based on section 5.5(a) and 5.7(1)(a) of MI 61-101.
About GreenLight Metals Inc.
The principal business of GreenLight is the exploration and development of mineral properties in Wisconsin, Nevada, and Arizona. The material properties of GreenLight are the Bend Property, the Reef Property and the Kalium Canyon Property. In addition, the Company controls two additional prospective properties in Wisconsin - Lobo and Lobo East. GreenLight has also secured rights to the Swede anomaly located on the Southern Greenstone Belt. Outside of Wisconsin, the Company controls rights to the Kalium Canyon property, located in the Walker Lane district of Nevada. The Company also holds an option on the Cerro Colorado property located 70 kilometers southwest of Tucson, Arizona, along the Laramide porphyry copper belt.
Further Information
The Exchange has not in any way passed upon the merits of the Unit Offering and has neither approved nor disapproved the contents of this news release.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information, please contact:
GREENLIGHT METALS INC.
Matt Filgate, President and Chief Executive Officer
Phone: (778) 679-3579
Email: matt@greenlightmetals.com
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.
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the use of proceeds in respect of the Unit Offering. Often, but not always, forward-looking statements or information can be identified by the use of words such as "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "predict", "project", "should" or "will" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.
With respect to forward-looking statements and information contained herein, GreenLight has made numerous assumptions including among other things, assumptions about the general business and economic conditions of GreenLight and the market in which it operates. The foregoing list of assumptions is not exhaustive.
Although management of GreenLight believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to the changes in interest and currency exchange rates; risks relating to unanticipated operational difficulties (including failure of technology or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); changes in general economic conditions or conditions in the financial markets; changes in laws; and other assumptions, risks, and uncertainties discussed in documents available under GreenLight's profile at www.sedarplus.ca. GreenLight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248616
SOURCE: GreenLight Metals Inc.
