Neotech Metals increases private placement to $3.3 million

Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) announced an increase in its private placement offering size due to investor demand. The mineral exploration company will now offer up to 4 million non-flow through units at $0.28 per unit for gross proceeds of approximately $1.12 million, and up to 5.64 million flow-through units at $0.39 per unit for gross proceeds of up to $2.2 million.

Each non-flow through unit includes one common share and half of one warrant. Each flow-through unit consists of one share and half of one warrant. The warrants allow holders to purchase one share at $0.45 for three years from issuance.

The warrants include an acceleration provision. If the company's share price exceeds $0.60 for 10 consecutive trading days on the Canadian Securities Exchange following the offering's closure, Neotech may accelerate the warrant expiry to 30 days after announcement.

All securities will have a four-month and one-day hold period from the issue date. The company may pay finder's fees to parties who introduce subscribers, in accordance with Canadian Securities Exchange policies.

Neotech plans to use net proceeds from flow-through unit sales for qualified expenditures on its mineral properties. Net proceeds from non-flow through units will fund general working capital.

The offering is expected to close around June 12, 2026, subject to regulatory approvals and standard closing conditions. Neotech operates rare-earth element and rare metals projects including Hecla-Kilmer, Torrance, TREO and Foothills properties.

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