Resouro Strategic Metal Inc Completes Private Placement

26.03.2024 | 14:18 Uhr | The Newswire

Toronto, March 26, 2024 - Resouro Strategic Metals Inc. (TSXV:RSM) (FSE:BU9) (RSM", ""Resouro" or the "Company") is pleased to announce that it closed its previously announced partially-brokered private offering (the "Offering") of 3,571,428 common shares in the capital of the Company ("Common Shares") at a price of $0.42 per Common Share for aggregate gross proceeds of approximately $1,500,000. The Company would like to thank existing shareholders for their continued support of Resouro.

This offering represents a 50% premium to Resouro's last capital raising at $0.28 per Common Share in August 2023. The Common Shares issued in connection with the offering are subject to a statutory hold period of four months.

President/CEO and major shareholder of Resouro, Chris Eager, commented:

The enthusiastic investor response to the private placement underscores shareholders' confidence in our vision and strategy and the market's recognition of our potential and the value proposition we offer. We look forward to providing further updates to the market in coming months."

Taylor Collison Limited of Sydney, Australia (the "Agent") acted as agent for the $600,000 brokered portion of the Offering. As compensation for its services, the Agent will receive a capital raising fee of $63,000 which is equal to 4.2% of the aggregate gross proceeds of the Offering (the "Capital Raising Fee"), payable in cash.

The Company intends to use the net proceeds from the Offering for general working capital purposes pending the proposed secondary listing on the Australian Securities Exchange ("ASX") and for exploration on the Company's Tiros Brazil exploration project.

Secondary listing on the Australian Securities Exchange

The Company continues to pursue a secondary listing on the ASX which, subject to satisfying all ASX requirements and market conditions, is targeted for Q2 2024. Shareholders are advised that there is no certainty, or guarantee, that the ASX listing will occur and there is a risk that the Company may not be able to comply with the requirements and/or satisfy the conditions imposed by the ASX.

About Resouro Strategic Metals Inc.

Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Project in Minas Gerais and the Novo Mundo and Santa Angela gold projects in Mato Grosso State.

The Tiros Municipality is located approximately 317km West-North-West of Belo Horizonte, the sixth largest city in Brazil and the capital of Minas Gerais state. The Tiros Project is targeting commodities of interest being Rare Earth Elements (REE's) and Titanium. The Tiros Project comprises 25 mineral titles in total, being 16 granted exploration licenses, which have a total area of approximately 27,325 hectares. The Tiros Project also includes 8 applications for exploration licenses and one tenement able for mining permit request.

Learn more about the Company on its website:

On behalf of the Board of Directors,
Chris Eager, President & CEO
Resouro Strategic Metals Inc.

For further information, please contact the Company at:

Chris Eager, CEO

Phone: +44-738-805-7980

For Investor inquiries

Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the use of proceeds of the Offering and the proposed ASX listing. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required, including obtaining final acceptance from of the TSXV; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in the mining industry; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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