Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - M3 Metals Corp. (TSXV: MT) (FSE: XOV) ("M3 Metals" or the "Company") is pleased to announce that the Company and Surge Battery Metals Inc. ("Surge") have entered into an amendment (the "Amendment") of their option and joint venture agreement (the "Option Agreement") which was disclosed in the Company's news release dated July 26, 2023 and whereby the Company optioned certain claims (the "M3M Property") to Surge. Material terms and conditions of the Option Agreement are disclosed in the July 26, 2023, news release.
The Amendment concerns a number of claims (the "Disputed Claims") totaling approximately 800 acres in the northeastern part of the M3M Property. The Company has become aware of a dispute regarding ownership of the Disputed Claims.
The Amendment provides that the Option Agreement continues to be of full force and effect with the Company being obligated to defend title to the Disputed Claims and pay costs associated with the defense.
The Company has been advised that Surge does not view the Disputed Claims as material to the M3M Property.
Surge has advised the Company that it does not view the Disputed Claims as material to the M3M Property as they are in the northeastern part and cover unfavourable Paleozoic sediments on the east and a rhyolite flow-dome complex on the west. Neither of these rock units, it is believed, are likely to host the lithium rich claystone that is the target in the main part of Surge's existing claims.
The Option Agreement and the Amendment are subject to the approval of the TSX Venture Exchange.
Adrian Smith, P.Geo., is a Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland & Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email
M3 METALS CORP.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
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 RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181327
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2023) - M3 Metals Corp. (TSXV: MT) (FSE: X0V) ("M3 Metals" or the "Company") is pleased to announce that the Company has entered into a mineral property option and joint venture agreement (the "Agreement") with Surge Battery Metals Inc. ("Surge"), a TSX Venture Exchange listed company.
The Agreement grants Surge the option (the "Option") to earn up to an eighty (80%) percent interest in and to the M3M Lands (as shown in the map below and identified as the M3 Metals Claim Block) by Surge making the following payments to the Company:
- to earn a fifty (50%) percent interest upon Closing in the M3M Lands, Surge must make a cash payment to the Company of $500,000 and must issue to the Company a total of 2,000,000 of Surge's common shares;
- to earn an additional twenty (20%) percent interest in the M3M Lands, Surge must make a cash payment to the Company of $250,000, issue to the Company a total of 2,000,000 of Surge's common shares and make $250,000 in exploration expenditures; and
- to earn an additional ten (10%) percent interest in the M3M Lands, Surge must make a cash payment to M3M of $500,000 and issue to the Company a total of 1,000,000 of Surge's common shares.
Upon earning a fifty (50%) percent interest in the M3M Lands, the Company may either continue to earn the additional twenty (20%) percent interest and ten (10%) percent interest in the M3M Lands or may require M3M to enter into a joint venture agreement with Surge for further exploration and development of the M3M Lands. Upon payment of the Full Option Exercise Price, M3M and Surge must enter into a joint venture agreement with industry customary terms including that the party with the greater interest in the M3M Lands will act as the Operator of the M3M Lands unless otherwise agreed between them.
Closing of the M3M Agreement is expected to occur within ten (10) days of TSX Venture Exchange approval of the M3M Agreement. The M3M Agreement and the Option have a term of five (5) years and require, upon their termination, that the parties enter into a joint venture provided that Surge has earned at least a fifty (50%) percent interest in the M3M Lands.
No finder's fees are payable in connection with the M3M Agreement and M3M and Surge are not related parties for the purposes of MI 61-101 or otherwise subject to it.
The M3M Agreement, and the performance of the Company's obligations thereunder, are conditional upon the approval of the TSX Venture Exchange.
The properties comprising the M3M Lands were staked by the Company in April of 2023 prior to the Company entering into the Lakshmi Property Agreement (as described below). The M3M Lands that were staked by the Company are comprised of 253 claims in Elko County Nevada and are located approximately 40km southeast of Jackpot, Nevada and 73km north-northeast of Wells, Nevada.
M3M Lands (Identified in Map as "M3 Metals Claim Block")
LAKSHMI PROPERTY UPDATE
On May 9, 2023 the Company announced that it had entered into a mineral property option agreement (the "Lakshmi Property Agreement") to acquire an interest in the Lakshmi Property, a mineral property prospective for lithium. The Lakshmi Property is expected to be the focus of the Company's exploration and development efforts on a going forward basis. The Lakshmi Property Agreement is subject to its approval by the Exchange. Approval requires the Company to submit a technical report on the Laskshmi Property which the Company anticipates will be completed, and submitted to the Exchange, shortly. More complete information on the Lakshmi Property can be found in the Company's news release of May 9, 2023 under the Company's Issuer Profile on sedar.com.
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email
M3 METALS CORP.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
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 RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/175039
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2023) - M3 Metals Corp. (TSXV: MT) (FSE: X0V) ("M3 Metals" or the "Company") is pleased to announce that the Company has entered into a mineral property option agreement (the "Agreement") to acquire up to an eighty (80%) percent interest in the Lakshmi Property (the "Lakshmi Property"), a mineral property prospective for lithium and located in California.
The Agreement, dated effective May 8, 2023, is between the Company and IMEx Consultants Inc. (the "Vendor"). The Agreement provides that the Company can earn a sixty (60%) percent interest in the Lakshmi Property by: (i) issuing 2,000,000 shares to the Vendor and paying to the Vendor the sum of USD$150,000 upon regulatory approval of the Agreement; and (ii) making USD$400,000 in exploration expenditures on the Lakshmi Property within twelve (12) months of regulatory approval of the Agreement.
The Company can acquire an additional twenty (20%) percent interest in the Laskshmi Property by issuing an additional 2,000,000 shares to the Vendor and making an additional USD$2,000,000 in exploration expenditures on the Lakshmi Property within thirty-six (36) months of regulatory approval of the Agreement.
The Agreement is subject to the regulatory approval of the TSX Venture Exchange (the "Exchange"). The transactions contemplated in the Agreement constitute a Fundamental Acquisition (as that term is defined in the policies of the Exchange) and, as such, require completion of a technical report on the Laskshmi Property prior to receipt of regulatory approval. No finder's fees are payable in connection with the Agreement and the Agreement is an arm's length transaction. There are no royalties or underlying option or other agreements related to the Lakshmi Property.
The Lakshmi properties comprise 96 staked BLM and County registered lode mining claims covering 2,641 acres (761 hectares). The claims encompass a 9km strike length of exposed Barstow Formation clay-rich sediments containing anomalous levels of lithium.
Trading in the shares of the Company will remain halted on the Exchange pending receipt and review by the Exchange of acceptable documentation regarding the Fundamental Acquisition pursuant to Section 5.6(d) of Exchange Policy 5.3.
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email
M3 METALS CORP.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
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 RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165327
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2023) - M3 Metals Corp. (TSXV: MT) ("M3 Metals" or the "Company") is pleased to announce that it has closed a non-brokered private placement of 5,000,000 units (the "Units") at a price of $0.24 per unit, for gross proceeds of $1,200,000 (the "Private Placement"). Each Unit consisted of one common share and one share purchase warrant, each whole share purchase warrant being exercisable for a period of two years at a price of $0.32 per share.
Proceeds from the Private Placement will be used for general working capital, and exploration on the Company's G-South Project.
All securities issued pursuant to this financing are subject to a four month hold period, expiring on June 8, 2023. The Private Placement is subject to approval from the TSX Venture Exchange.
To find out more about M3 Metals Corp., please contact investor relations at 604-669-2279 or email
M3 Metals Corp.
"Kosta Tsoutsis"
Director
604-669-2279
"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 release." Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. The Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154137