Upsizes Private Placement for Gross Proceeds of $1.3 Million
Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
VANCOUVER, British Columbia, May 08, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. (TSXV: LMS) ("Latin Metals" or the "Company") is pleased to announce the appointment of Eduardo Leon to Vice President of Exploration. As part of his new role, Mr. Leon has been designated as the Company's Qualified Person ("QP") under National Instrument 43-101. The Company also announces upsizing of its previously announced private placement for gross proceeds of up to $1.3 million.
Appointment Vice President Exploration
Mr. Leon has been a key contributor to Latin Metals since joining the Company in 2020 as Exploration Manager. Over the past five years, he has led the Company’s technical efforts across its South American portfolio and was instrumental in identifying the sediment-hosted copper potential in northwest Argentina that led to the Company acquiring a significant land position in the region.
“Eduardo’s promotion reflects his strong leadership, technical acumen, and ability to think strategically about exploration,” commented Keith Henderson, President & CEO of Latin Metals. “His expertise is strongly aligned with Latin Metals’ prospect generator model, which aims to maximize exploration upside for shareholders while minimizing dilution. Acquisition of the right projects and quickly applying the right suite of exploration techniques are the most important steps in building an attractive portfolio of projects. His recognition of exploration potential to attract option partners is key to our process.”
Mr. Leon is a geologist with 20 years of experience working across multiple countries in Latin America, including Chile, Brazil, Mexico, Nicaragua, El Salvador, the Dominican Republic, Ecuador, Peru, and Argentina. He has been involved in all phases of the exploration process, from leading grassroots exploration to advanced project development. Mr. Leon has an exceptional track record in exploration and has experience across a diverse range of deposit types. He holds a BSc in Geology and is currently completing a Professional Master's degree in Mineral Exploration at Colorado School of Mines.
Upsized Private Placement
The Company also announces that due to investor interest in its non-brokered private placement (the "Financing") announced on May 5, 2025, it is upsizing the Financing to raise total gross proceeds of up to $1.3 million. The Financing will consist of up to 11,818,182 units in the capital of the Company (each, a "Unit") at a subscription price of $0.11 per Unit. Each Unit will consist 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, subject to acceleration provisions (see previous news release NR25-06, dated May 5, 2025).
The proceeds of the Financing are intended to fund exploration, generative work, and for general working capital.
The Company may pay finder’s fees on all or a portion of the Financing, consisting of a cash commission equal to up to 7% of the total gross proceeds raised and finder’s warrants equal to up to 7% of the total number of Units issued, where each finder’s warrant will entitle 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 in connection with the Financing will be subject to a hold period of four-months and one day in Canada. The Financing is subject to the receipt of all necessary approvals including acceptance for filing of the Financing by the TSX Venture Exchange (the “TSXV”) and any applicable securities regulatory authorities. Any participation by directors or officers in the Financing is considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The related party transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities to be issued under the Financing nor the consideration to be paid by the directors and officers will exceed 25% of the Company’s market capitalization.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Incentive Stock Options
The Company announces that it has granted 750,000 common share stock options (each, an "Option") to certain consultants of the Company. The Options entitle the holder to purchase shares at a price of $0.12 per share for a period of 36 months from the grant date. Including this issuance, the Company has now set Options representing 8.6% of the issued and outstanding stock.
Upcoming Events
Latin Metals is pleased to announce its participation in several upcoming industry conferences, providing a platform to connect with investors, industry leaders, and potential partners:
121 Mining Investment Conference – London, May 12–13, 2025
Deutsche Goldmesse Spring 2025 – Frankfurt, May 16–17, 2025
The Mining Event – Quebec City, June 3–5, 2025
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.
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.
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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
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.
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.
