Latest news with #Auramet
Yahoo
29-05-2025
- Business
- Yahoo
Tristar Gold Closes Brokered Private Placement
Scottsdale, Arizona--(Newsfile Corp. - May 29, 2025) - TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) (the "Company" or "TriStar") is pleased to announce it has closed its previously announced brokered private placement (the "Offering") of units ("Units") for gross proceeds of C$10,086,768. The Offering was led by Paradigm Capital Inc. and included Cormark Securities Inc. (collectively, the "Agents"), acting as agents on a commercially reasonable efforts basis. Pursuant to the Offering, the Company issued a total of 63,042,300 Units at a price of C$0.16 per Unit, including the partial exercise of the Agents' over-allotment option. Each Unit is comprised of one common share in the capital of the Company (a "Unit Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant is exercisable to acquire one additional common share in the capital of the Company (a "Warrant Share") until May 29, 2027 (the "Expiry Date") at an exercise price of C$0.25 per Warrant Share. In connection with the Offering, the Agents received a cash fee of C$572,206.08 and non-transferable compensation options of the Company exercisable for a total of 3,576,288 common shares of the Company at an exercise price of C$0.16 per share until the Expiry Date. All securities issued in connection with the Offering are subject to a four-month hold period expiring on September 30, 2025 in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange"). The Company intends to use the net proceeds from the offering to fund the Company's work program to advance the Castelo de Sonhos gold project and for general working capital purposes. Nicholas Appleyard, President and Chief Executive Officer of the Company, and an over 10% shareholder Auramet Capital Partners, L.P. ("Auramet") participated in the Offering by subscribing for 1,562,500 Units and 1,875,000 Units, respectively. The participation of these insiders constitute related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by Mr. Appleyard as a result of his participation in the Offering. The change in the percentage of outstanding securities of the Company held by Auramet is described below. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insiders in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company for the Offering, with Mr. Appleyard declaring and abstaining from voting on the resolutions approving the Offering with respect to his participation in the Offering. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto. Early Warning Disclosure Mr. Eric Sprott ("Sprott"), through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 31,250,000 Units pursuant to the Private Placement, at C$0.16 per Unit for total consideration of C$5,000,000. Sprott is providing the following disclosure pursuant to National Instrument 62-104 - Take-Over Bids And Issuer Bids ("NI 62-104") and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"), as the number of Common Shares owned or controlled, directly or indirectly by Sprott after the completion of the Offering exceeds 10% of the then issued and outstanding common shares of the Company on a partially diluted basis. Prior to the acquisition of Units in the Offering, Sprott did not own any securities of the Company. Following the acquisition of 31,250,000 Units in the Offering, Sprott holds approximately 8.9% of the outstanding Common Shares on an undiluted basis and 12.7% of the outstanding Common Shares on a partially diluted basis (assuming exercise of all 2176423 Ontario Ltd.'s Warrants), based on 352,059,748 Common Shares outstanding. The Units were acquired by Sprott in the Offering for investment purposes. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. A copy of the early warning report with respect to the foregoing will appear on TriStar Gold's profile on SEDAR+ at and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto Ontario M5C 3C5). Auramet acquired 1,875,000 Units pursuant to the Offering for a total subscription price of C$300,000. Auramet is providing the following disclosure pursuant to NI 62-103 as Auramet's ownership over the Common Shares of the Company decreased by more than 2% of the issued and outstanding shares on an undiluted and a partially-diluted basis since the last early warning report filed by Auramet. Prior to the acquisition of Units in the Offering, Auramet beneficially owned, and had control and direction over, 40,128,205 Common Shares and warrants exercisable to acquire 6,730,769 Common Shares, representing approximately 13.88% of the outstanding Common Shares on an undiluted basis and 15.84% on a partially-diluted basis, assuming the exercise of the warrants held by Auramet, and based upon 289,017,448 Common Shares outstanding. Following the acquisition of 1,875,000 Units in the Offering, Auramet beneficially owns, and has control and direction over, 42,003,205 Common Shares and warrants exercisable to acquire 7,668,269 Common Shares, representing approximately 11.93% of the outstanding Common Shares on an undiluted basis and 13.81% on a partially-diluted basis, assuming the exercise of the warrants held by Auramet, and based upon 352,059,748 Common Shares outstanding. The Units were acquired by Auramet in the Offering for investment purposes only, and in the future, Auramet may acquire additional securities of the Company, dispose of some or all of the existing securities it holds or will hold, or may continue to hold its current position, depending on market conditions, reformulation of plans and other relevant factors. An early warning report (the "Auramet Report") will be filed by Auramet pursuant to NI 62-103 on SEDAR+ at under the profile of the Company. To obtain copies of the Sprott Report or the Auramet Report, please contact Scott Brunsdon, Chief Financial Officer and Corporate Secretary of the Company, at the Company's head address at 7950 East Acoma Drive, Suite 209, Scottsdale, Arizona 85260 or by telephone at 480.794.1244. Auramet is a limited partnership organized in the State of Delaware and is an investment affiliate of Auramet International, Inc., which conducts physical metals trading, metals merchant banking and project finance advisory. Auramet's office is located at 300 Frank W. Burr Blvd., 5th Floor/Suite 24, Teaneck, New Jersey 07666. This news release does not constitute an offer of securities for sale in the United States. The securities issued in connection with the private placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. About TriStar: TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company's shares are listed on the TSX Venture Exchange under the symbol TSG and on the OTCQB under the symbol TSGZF. Further information is available at ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY: Nick AppleyardPresident and CEO For further information, please contact: TriStar Gold AppleyardPresident and CEO480-794-1244info@ Neither the 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 release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Forward-Looking Statements Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements in this press release include statements about the use of the proceeds from the Offering. Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
Globe and Mail
17-03-2025
- Business
- Globe and Mail
Canada Nickel Provides Corporate Update
TORONTO , /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) today announced that it has extended the repayment date of the US$15 million loan facility announced July 9, 2024 with Auramet International, Inc. ("Auramet") from March 14, 2025 to April 25 th, 2025. Mark Selby , CEO and Director of Canada Nickel Company, said "I am pleased that we are extending repayment of our loan with Auramet to April 25, 2025 allowing us to complete various strategic financing initiatives during this timeframe." Loan Extension An extension fee of US$168,233 will be paid by April 25 , 2025. The loan will carry an interest rate of 1.25% per month for the extension period. The interest payable on the original loan amount has also been deferred to April 25 th, 2025. About Auramet Auramet is one of the largest physical precious metals merchants in the world with over US$25 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2024 it purchased 7.4 million ounces of gold, 118 million ounces of silver and 4 million ounces of PGMs, and has provided term financing facilities in excess of US$1.25 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. For more information on Auramet, please visit About Canada Nickel Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel™, NetZero Cobalt™ and NetZero Iron™ and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit For further information, please contact: Mark Selby CEO Phone: 647-256-1954 Email: info@ Cautionary Statement Concerning Forward-Looking Statements This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the approval of the TSX Venture Exchange, the use of proceeds from the loan, the completion of any strategic financing initiatives, the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
17-03-2025
- Business
- Yahoo
Canada Nickel Provides Corporate Update
TORONTO, March 17, 2025 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) today announced that it has extended the repayment date of the US$15 million loan facility announced July 9, 2024 with Auramet International, Inc. ("Auramet") from March 14, 2025 to April 25th, 2025. Mark Selby, CEO and Director of Canada Nickel Company, said "I am pleased that we are extending repayment of our loan with Auramet to April 25, 2025 allowing us to complete various strategic financing initiatives during this timeframe." Loan Extension An extension fee of US$168,233 will be paid by April 25, 2025. The loan will carry an interest rate of 1.25% per month for the extension period. The interest payable on the original loan amount has also been deferred to April 25th, 2025. About Auramet Auramet is one of the largest physical precious metals merchants in the world with over US$25 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2024 it purchased 7.4 million ounces of gold, 118 million ounces of silver and 4 million ounces of PGMs, and has provided term financing facilities in excess of US$1.25 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. For more information on Auramet, please visit About Canada Nickel Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel™, NetZero Cobalt™ and NetZero Iron™ and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit For further information, please contact: Mark SelbyCEOPhone: 647-256-1954Email: info@ Cautionary Statement Concerning Forward-Looking Statements This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the approval of the TSX Venture Exchange, the use of proceeds from the loan, the completion of any strategic financing initiatives, the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. View original content to download multimedia: SOURCE Canada Nickel Company Inc. View original content to download multimedia: Sign in to access your portfolio
