Vancouver, British Columbia–(Newsfile Corp. – August 13, 2024) – Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) (“Neotech” or the “Pursue“), announces that it has finalized the terms of its non-brokered private placement financing LIFE (the “Offer“), which was previously announced on June 24, 2024. The total proceeds will be at least $1,350,000 and at most $2,500,000, consisting of at least 9,000,000 units of the Company (the “Units“) and up to a maximum of 16,666,667 units at a price of $0.15 per unit. Each unit consists of one common share in the Company’s authorized share structure (each, a “Ordinary share“) and a warrant to purchase one common share (a “Warranty“) of the Company. Each Warrant entitles the holder to purchase one additional common share (a “Warrant Share“) of the Company at a price of $0.25 per warrant share for a period of 36 months from the date of issuance.

The Warrants are subject to an acceleration clause, pursuant to which, if for 10 consecutive trading days the closing price of the Company’s common stock (the “Shared times“) exceeds $0.50 per share on the Canadian Securities Exchange, the Company may announce by press release that the expiry date of the Warrants will be accelerated to 30 days thereafter.

The Company may compensate certain finders with a cash commission of up to 7% of the total gross proceeds from the offering and issue finder warrants equal to 7% of all units subscribed for in the offering.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus exemptions (“NI45-106“), the Units to be issued in the Offering will be offered for sale to purchasers resident in any province of Canada (excluding Quebec) pursuant to the exemption for financing of publicly traded issuers under Part 5A.2 of NI 45-106. Pursuant to NI 45-106, the securities issued in the Offering to purchasers resident in Canada will not be subject to any resale restrictions.

The net proceeds from the sale of the Units will be used for exploration expenditures and corporate and general operating expenses. An offering document exists for this offering, which is available under the Company’s profile on Sedarplus.ca and on the Company’s website at https://neotechmetals.com/. Potential investors should read this offering document before making any investment decision.

About Neotech Metals Corp.

Neotech Metals Corp. is a mineral exploration company dedicated to the discovery and development of valuable mineral resources in prospective regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.

The Company is based in Vancouver, British Columbia and is the sole owner of its TREO rare earth element property located 90 km northeast of Prince George, British Columbia, its Foothills rare earth element property in central British Columbia and its Hecla-Kilmer rare earth element property in northwestern Ontario.

Forward-looking statements

This press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can often be identified by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate,” “estimate” and other similar words or statements that certain events or conditions “may” or “will occur.” Forward-looking information in this press release includes, but is not limited to, statements with respect to the Company’s ability to complete the Offering on the announced terms and proposed closing schedule or at all, and the use of proceeds from the Offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We can give no guarantees of future results, performance or achievements. Accordingly, there can be no assurance that actual results achieved will be the same or any part of those set forth in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and is subject to numerous risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking information include, but are not limited to: early stage of corporate development; mineral claims; aboriginal claims and consultation; surface rights; operational hazards and risks; speculative nature of mineral exploration; permitting and governmental requirements; environmental and safety regulations and risks; competitive conditions in the mining industry; social and environmental activism; uninsurable risks; infrastructure; proprietary interests; limited operating history; dependence on management; conflicts of interest; liability for actions of employees, contractors and consultants; breach of confidentiality; reporting issuer status; no operating income; negative operating cash flow; need for significant capital expenditures; additional financing; going concern risk; insurance policies may be insufficient to cover all claims; claims and litigation; internal control systems; if the Company is unable to raise additional equity financing, it may lose some or all of its ownership interests; general inflationary pressures; price of common stock; volatility of publicly traded securities; dilution; dividends; tax issues; retention of key personnel; privacy, data protection and information security concerns and restrictions on data collection and transmission and related domestic and foreign regulations; anti-money laundering, anti-terrorist financing, corruption and economic sanctions laws; negative publicity and sharing of information through social media; inability to develop, maintain and enhance the Company’s brand; growth management; mergers or other strategic transactions involving the Company’s competitors or customers; protection of the Company’s proprietary rights; infringement of intellectual property; credit risk; acquisition of other companies; negative operating cash flow; need for additional capital to support growth; judgments or estimates regarding the Company’s critical accounting policies; Compliance with laws and regulations affecting publicly traded companies; regulatory requirements; adverse economic and market conditions; changes in technology; natural disasters, public health crises, political crises or other catastrophic or adverse events; general economic conditions in Canada, the United States and globally; unexpected operational events; currency fluctuations; geopolitical risks; the availability of capital on acceptable terms; human error; the influence of third parties; the Company’s discretion regarding the use of proceeds from financings; the Company’s inability to maintain the listing of its common shares on any stock exchange; the non-listing of certain securities issued by the Company on any stock exchange; the Company’s compliance with evolving corporate governance and public disclosure requirements; changes in tax laws; and other risks.

The forward-looking information contained in this press release is expressly qualified by this cautionary statement. We undertake no obligation to update any forward-looking information to conform it to actual results or to reflect any change in our expectations, except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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