Latin Metals announces the closing of a private placement for gross proceeds of $2.0 million

VANCOUVER, British Columbia, Sept. 27, 2024 (GLOBE NEWSWIRE) — Latin Metals Inc. (“Latin Metals” or “Business”)- (TSXV:LMS) (OTCQB: LMSQF) announces that it has completed a previously announced unbrokered private placement (the “Financing”) for aggregate gross proceeds of $2,000,000 through the issuance of 25,000,000 units (the “Unit”) at a subscription price of $0.08 per unit.

Each Unit consists of one share of common stock in the capital of Latin Metals (each a “Share”) and one-half of one common share purchase warrant, each whole warrant entitling the holder thereof to purchase one Share at a price of $0.15 per Share for a period of 24 months from the closing of the Financing.

In connection with the closing of the Financing, the Company paid a finder’s fee for a portion of the Financing to Leede Financial Inc. consisting of a cash commission of USD 70,350 and 879,375 finder’s warrants, each finder’s warrant entitling its holder to purchase one Share at a price of USD 0.08 per Share for a period of 12 months from the closing of the Financing. All securities issued by the Company under the Financing are subject to a standstill period in Canada of four months and one day.

Certain officers, directors and controlling persons of the Company (collectively, “Affiliates”) participated in the Financing pursuant to the terms described above, purchasing an aggregate of 10,225,000 Units. They constitute related party transactions under Multilateral Instrument 61-101 – Protection of minority security holders in special transactions (“MI 61-101”). The Company relied on paragraphs 5.5(a) and 5.7(1)(a) of MI 61-101 to exempt from the formal valuation and minority shareholder approval requirements, respectively, as of the closing date of the Financing, nor the fair market value of the Units issued in in connection with the Financing, nor did the fair value of the remuneration received by the Company in this respect, to the extent it concerned the Related Entities, exceed 25% of the Company’s market capitalization.

Proceeds from the Financing are intended for mineral exploration, project development, project acquisition, loan repayment and general working capital. Closing of the Financing is subject to receipt of final approval from the TSX Venture Exchange.

About Latin metals

Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The company operates a Prospect Generator model focused on acquiring potential exploration properties at minimal cost, conducting initial evaluation through cost-effective exploration to establish drilling targets, and ultimately securing joint venture partners to finance drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with financing exploration based on the highest risk wells.

On behalf of the Management Board of sp

LATIN METALS INC.

“Keith Henderson“

President and CEO

Further detailed information about the Company can be found on the Company’s website (www.latin-metals.com) and in Canadian regulatory filings relating to SEDAR+ at www.sedarplus.ca.

For further information please contact:

Keith Henderson

Apartment 890
999 West Hastings Street
Vancouver, BC, V6C 2W2

Phone: 604-638-3456
E-mail: This e-mail address is protected from spambots. JavaScript must be enabled in your browser to view it.

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 press release.

This press release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, contained herein, including, but not limited to, the use of proceeds to finance the Company’s anticipated business plans and the timing of future operations of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it cannot assure you that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, ” “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions that by their nature refer to future events or results that may, could, could or will take place or be undertaken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, statements regarding the Company’s anticipated business plans and timing of future operations, the Company’s ability to obtain sufficient financing to fund its operations and business plans, delays in obtaining governmental and regulatory approvals (including the TSX Venture Exchange to financing), permits or financing, changes in laws, regulations and policies affecting mining activities, exchange rate fluctuations, title disputes or claims, environmental issues and liabilities, risks related to epidemics or pandemics, such as COVID-19, including the impact of COVID-19 on the Company’s operations, financial condition and results of operations, changes in laws, regulations and policies affecting mining activities, title disputes, the Company’s inability to obtain all necessary permits, consents, approvals or permits, the timing and possible outcome of any ongoing court proceedings, environmental protection issues and liabilities and risks related to joint venture activities, as well as other risks and uncertainties disclosed in the Company’s documents disclosed on an ongoing basis. All of the Company’s Canadian public disclosure documents can be accessed through www.sedarplus.ca and readers are encouraged to review these materials.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statements contained in this press release or incorporated by reference herein, except as otherwise required by law.