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Apex Critical Metals Corp
Symbol APXC
Shares Issued 42,659,391
Close 2024-12-30 C$ 0.94
Market Cap C$ 40,099,828
Recent Sedar Documents

Apex Critical Metals closes $2.52-million placement

2024-12-30 17:22 ET - News Release

Mr. Sean Charland reports

APEX CRITICAL METALS CORP. COMPLETES PRIVATE PLACEMENT FOR PROCEEDS OF $2,520,000

Apex Critical Metals Corp. has completed a non-brokered private placement (see news release dated Dec. 19, 2024), issuing a total of 4.2 million units at a price of 60 cents per unit, raising aggregate proceeds of $2.52-million. Each unit consisted of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase one share at a price of 75 cents per share for a period of two years from closing of the offering. The proceeds of the offering will be used for property exploration and general working capital.

All securities issued pursuant to the offering are subject to a statutory hold period of four months and a day from the closing.

Certain insiders of the company subscribed for a total of 303,336 units under the offering, which are related party transactions within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The issuance to the insiders are exempt from the formal valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(a) as the units purchased by the insiders do not exceed more than 25 per cent of the market capitalization of the company and from the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(b) of MI 61-101 in that the fair market value of the securities distributed to the insiders in the offering is not more than $2.5-million.

About Apex Critical Metals Corp.

Apex Critical is focused on acquiring, exploring and developing properties potentially rich in carbonatite rocks hosting economic concentrations of rare earth elements including niobium. Apex Critical's CAP property located 85 kilometres northeast of Prince George, B.C., spans 25 square kilometres and hosts a recently identified promising 1.8-kilometre niobium trend. The company's Bianco carbonatite project encompasses 3,735 hectares covering a large carbonatite complex within an area known for significant niobium mineralization in Northwestern Ontario. These extremely rare carbonatite formations, with fewer than 600 known deposits worldwide, host many high-demand rare earth element minerals, as well as uranium, copper and gold. Carbonatites contain some of the largest and most productive niobium deposits, including Araxa and Catalao in Brazil and Niobec in Quebec, as well as major rare earth and phosphate sources such as Mountain Pass in California and Palabora in South Africa. By acquiring more carbonatite-hosted projects, Apex Critical intends to investigate these potentially high-value systems to meet the growing global demand across various industries. Apex Critical is publicly listed in Canada on the Canadian Securities Exchange under the symbol APXC, in the United States on the OTCQB market under the symbol APXCF, and in Germany on the Borse Frankfurt under the symbol KL9 or WKN: A40CCQ.

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