TORONTO, Nov. 12,
2024 /CNW/ - Culico Metals Inc. (TSXV: CLCO)
("Culico", or the "Corporation"), a TSXV Sandbox
issuer, is pleased to announce a strategic equity investment of
C$4,000,000 (the "Investment")
into Americas Gold and Silver Corporation ("AGSC"), a
precious metals company with two operations: the Galena Complex in
Idaho, USA and Cosalá in
Sinaloa, Mexico.
Culico has invested C$4,000,000 in
exchange for 10,000,000 common shares of AGSC (the "Purchased
Shares") at a price of C$0.40 per
Purchased Share. The Purchased Shares are subject to a four-month
plus one day hold period from the date of issuance, and the
Investment is subject to the final acceptance of the TSX Venture
Exchange (the "TSXV").
Culico is currently listed pursuant to the TSXV Sandbox, and
will remain so until, among other things, Culico has deployed at
least C$4,663,000.00 to at least two
qualifying investments that are satisfactory to the TSXV. Following
the completion of the Investment, Culico is now required to deploy
at least C$663,000 to at least one
more qualifying investment prior to August
14, 2025. Investors are advised to read the Corporation's
news release dated August 14, 2024
for more information regarding the waivers granted in connection
with the Corporation's listing, details on the listing conditions
imposed on the Corporation, the exit conditions the Corporation
must meet in order to exit TSXV Sandbox, and any consequences if
the Corporation does not meet these exit conditions.
About Culico Metals Inc.
Culico is a company focused on creating value in the mineral
exploration, development and production sector. Culico's current
assets include a 1% lithium royalty on certain mining interests
held by Kali Metals Limited (ASX: KM1) and the right to receive a
deferred consideration payment due to the on-sale of the Dumont
project. The Dumont project is a large-scale nickel deposit located
25 km west of the town of Amos in
the established Abitibi mining camp in the mining-friendly Canadian
province of Québec. Culico holds an interest in the net proceeds
from a future sale or other monetization event involving the Dumont
project.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain "forward-looking
statements" under applicable Canadian securities laws concerning
the business, operations and financial performance and condition of
Culico. Except for statements of historical fact relating to
Culico, all statements included herein are forward-looking
statements. The words "believe", "expect", "strategy", "target",
"plan", "scheduled", "commitment", "opportunities", "guidance",
"project", "continue", "on track", "estimate", "growth",
"forecast", "potential", "future", "extend", "planned", "will",
"could", "would", "should", "may" and similar expressions typically
identify forward-looking statements. In particular, this news
release contains forward-looking statements including, without
limitation, information and statements regarding: the Investment;
the business and operations of Culico and AGSC; the receipt of
final acceptance from the TSXV; and the Corporation's ability to
meet all the exit conditions in order to exit TSXV Sandbox.
Forward-looking statements are necessarily based on the
opinions and estimates of management at the date the statements are
made and are based on a number of assumptions and subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking statements. Many of these
assumptions are based on factors and events that are not within the
control of Culico and there is no assurance they will prove to be
correct.
These factors are discussed in greater detail in Culico's
TSXV Form 2B – Listing Application, filed under the Corporation's
issuer profile on SEDAR+, which also provides additional general
assumptions in connection with these statements. Culico cautions
that the foregoing list of important factors is not exhaustive.
Investors and others who base themselves on forward-looking
statements should carefully consider the above factors as well as
the uncertainties they represent and the risk they entail.
Although Culico 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
not to be anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Culico
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. Comparative market information is as of a date prior to
the date of this document. Further, the forward-looking statements
included herein speak only as of the date of this news
release.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news release.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
Investors are advised that the Corporation has been listed on
TSXV as a TSXV Sandbox Listing as the Corporation did not meet all
TSXV's listing requirements at the time of listing.
Investors are advised to read the Corporation's news release
dated August 14, 2024 to review all
waivers granted in connection with the Corporation's listing,
details on the listing conditions imposed on the Corporation, the
exit conditions the Corporation must meet in order to exit TSXV
Sandbox, and any consequences if the Corporation does not meet
these exit conditions. There can be no assurance that
the Corporation will meet all the Exit Conditions. For details on
TSXV Sandbox, please visit
(https://www.tsx.com/en/listings/tsx-and-tsxv-issuer-resources/tsx-venture-exchange-issuer-resources/tsxv-sandbox).
www.culicometals.com
SOURCE Culico Metals Inc.