RT Minerals Corp. Closes $100,000 Private Placement and Completes Nordica Property Acquisition
Vancouver, June 28, 2023 - RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the "Company") is pleased to announce that further to its news release of June 13, 2023, the Company has completed a non-brokered private placement to raise gross proceeds of $100,000 (the "Offering") through the sale of 1,000,000 units priced at $0.10 (the "Units"). Each Unit consists of one common share and one-half of a share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.12 for a term of twelve months. The proceeds from the Offering will be used for general working capital. All securities issued are restricted from trading until October 29, 2023. Further to the Company's news release of May 10, 2023, the Company has completed the acquisition of 20 claim blocks in Nordica Township (the "Vendor Claims") from an arm's length vendor for consideration of 300,000 common shares of the Company and a 2% Net Smelter Return ("NSR") royalty on the Vendor Claims as well as any claims that the Company has acquired within a 2 km area of interest surrounding the Vendor Claims, of which 0.8% NSR may be repurchased by the Company for $2,500,000 cash at any time. All securities issued are restricted from trading until October 29, 2023.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol "RTM". The Company holds a 100% interest in a portfolio of critical mineral, gold and base metal properties in Ontario, including the Case Batholith group of properties prospective for lithium and cesium; the Ireland and Kendrey properties prospective for rare earth elements; the Nordica, Galna-Moody, Kenogaming, Pharand I and II properties prospective for nickel, chromium and cobalt; the Milligan, Blakelock and McQuibban gold properties; and the Timmins base metals property. The Company also holds an option to acquire a 100% interest in the Link-Catharine RLDZ gold property located 22 km south-southeast of the town of Kirkland Lake, Ontario.
For more information on the Company and its properties, please visit the Company's website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
Telephone: 403-200-6542
Telephone: 604-681-3170 Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.