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Platinum, palladium, copper and nickel: critical metals for the transformative technologies which are powering Western economies. Clean Air Metals (AIR.V) is exploring two deposits, Current and Escape, near Thunder Bay which show great potential as sources for all four of these important metals.
One of the challenges in the junior resource exploration/development sector is attaching a credible net asset value to potential assets in the ground. A 43-101 resource estimate is helpful, so is a preliminary economic assessment; but neither really attaches a hard cash value to a company’s project.
Clean Air Metals Inc. (“Clean Air Metals”) (the “Company”) (TSXV: AIR) (OTCQB: CLRMF) (CKU: DB) has closed the first tranche in the amount of C$10 million of a C$15-million mineral royalty financing agreement (the “TF Royalty Agreement”) effective December 16, 2022 (the “Effective Date”) with Triple Flag Precious Metals Corp. (“Triple Flag”). The TF Royalty Agreement features a 2.5% net smelter returns (“NSR”) mining royalty for all mineral product produced on the Thunder Bay North Critical Minerals (Platinum, Palladium, Copper, Nickel) Project in Northern Ontario, Canada, temporarily excepting the Escape claims.
Grid Metals Corp. (the “ Company “) (TSXV:GRDM)(OTCQB:MSMGF ) is pleased to announce completion of a private placement of securities (the “Offering”) originally announced on August 22, 2022. The Company issued a total of 56 million common shares of the company including 20 million shares by way of a charitable flow through offering which were priced at $0.21 per share. The total gross proceeds of the Offering were $8,520,000. The second tranche of the financing consisted of the issuance of 36,000,000 common shares of the Company issued at $0.12 per share. All shares issued under the Offering are subject to a voluntary one year hold period. Churchill Strategic Investments Group Pty Ltd of Perth Australia was an investor and also acted as the lead manager for the Offering.
GCM Mining Corp. (GCM) (TSX: GCM; OTCQX: TPRFF) and Aris Gold Corporation (Aris Gold) (TSX: ARIS; OTCQX: ALLXF) announce they have entered into a definitive agreement (the Arrangement Agreement) under which GCM will acquire all the outstanding Aris Gold shares not already held by GCM (the Transaction). The resulting entity will be named Aris Gold Corporation and will be led by Ian Telfer as Chair and Neil Woodyer as CEO and Director.
Grid Metals Corp. (“Grid” or “the Company” ) (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announce that it has entered into an agreement with Canada Nickel Company Inc. (“Canada Nickel“) (CNC)(CNIKF) to sell a 100% interest in the Bannockburn Nickel Property located near Matachewan, Ontario. Under the terms of the Transaction Canada Nickel will acquire 100% of the Bannockburn Property in return for issuance to Grid of 2.0 million of Canada Nickel’s common shares.
The market is usually right about exploration and development companies. The good ones get cashed up, the others have a hard time raising funds.
Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV: AIR) (OTCQB: CLRMF) (FRA: CKU) is pleased to report that in connection with its previously announced “best efforts” private placement offering, the Company and a syndicate of agents led by Paradigm Capital Inc. (the “Lead Agent“), and including Beacon Securities Inc., Echelon Wealth Partners Inc., and Hannam & Partners (collectively, the “Agents“), have agreed to increase the size of the offering to total gross proceeds of $12.5 million (“The Offering“). The Company will now issue (i) 23,150,400 flow-through units (“FT Units“), of which 10,869,600 will be issued at a price of $0.23 per FT Unit (the “FT Issue Price”) and 12,280,800 of which will be issued at a price of $0.285 (the “Premium FT Issue Price”), and (ii) 32,250,000 non-flow-through units (“Units“) at a price of $0.20 per Unit (the “Unit Issue Price“).
Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV: AIR) (OTCQB: CLRMF) (FRA: CKU) is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. on behalf of a syndicate of agents (collectively, the “Agents“), in connection with a “best efforts” private placement financing (the “Offering“) for gross proceeds of up to $9 million, consisting of up to (i) 17,887,200 flow-through units (“FT Units“) of the Clean Air Metals Inc. (the “Company“), of which 10,869,600 will be issued at a price of $0.23 per FT Unit (the “FT Issue Price”) and 7,017,600 of which will be issued at a price of $0.285 (the “Premium FT Issue Price”), and (ii) 22,500,000 non-flow-through units (“Units“) at a price of $0.20 per Unit (the “Unit Issue Price“).
Grid Metals Corp. (the “Company“) (TSXV:GRDM)(OTCQB:MSMGF) today provided a shareholder update with respect to its nickel-copper-cobalt-PGM and lithium exploration and development projects in Manitoba and Ontario. The Company has commenced drilling at its advanced exploration stage Makwa Nickel property in southeastern Manitoba and expects to complete ~3,000 metres focusing on several large and untested geophysical anomalies in an effort to expand and improve on the existing pit-constrained nickel resources at the property. The Makwa drilling will be completed by early February. The Company will then commence with a 8,000 to 10,000 meter exploration and resource delineation drilling program on the nearby Mayville lithium property, targeting multiple lithium-rich pegmatite dyes (the “Donner Lake pegmatites”) that have been identified to date.