Stockwatch

Black Mammoth Metals Corp
Symbol	BMM
Shares Issued	15,876,871
Close 2024-01-25	C$ 0.13
Market Cap	C$ 2,063,993
Recent Sedar+ Documents

Black Mammoth to extend 3.5M warrants to April, 2026

2024-01-29 12:53 ET - News Release

Subject: BMM - News for dissemination Word Document File: '\\swfile\EmailIn\20240129 093218 Attachment Black Mammoth Metals Announces Warrant Extension.doc' No.24-3 BMM: TSX-V NEWS RELEASE Black Mammoth Metals Announces Warrant Extension Vancouver, B.C., January 29, 2024. Black Mammoth Metals Corporation (TSX-V: BMM / OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased to announce that the TSX-V has approved the expiry date extension of a total of 3,500,000 share purchase warrants (the "Warrants") to April 19, 2026 for tranche one & April 29, 2026 for tranche two (the "Warrant Extensions"). Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.15 per common share and all other terms of the Warrants, including exercise price, will remain the same. The Warrants were issued pursuant to the private placement announced on March 8, 2022 and all are set to expire on April 19, 2024 for tranche one & April 29, 2024 for tranche two. An insider, by owning more than 10% of the Company's outstanding shares, holds 800,000 Warrants of the 3,500,000 total Warrants. Further to the Company's January 19, 2024 news release announcing the shares for debt transaction, the issuance of 950,000 common shares to directors and officers of the Company constitutes a "related party transaction" as this term is defined in Multilateral Instrument 61-101: Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The directors and officers of the Company, acting in good faith, determined that the fair market value of the common shares being issued pursuant to the shares for debt transaction and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the common shares nor the debt exceeds 25% of the Company's market capitalization. About Black Mammoth Metals Corporation: Aside from the recently proposed acquisition of IDA Mining, the Company has completed a ground gravity survey that is now modeled and interpreted in conjunction with the recent UAV magnetic survey at its 100% owned, 1213 hectare (2997 acre) Happy Cat gold property, in southern Ravenswood Mining District, Lander County, Nevada. An approximate 4 square kilometre area is identified as a hydrothermally altered area. Structural modelling suggests the density of the alteration and its' density contrast relative to the host rock is typical to that of alteration zones present at other Carlin-type deposits in northern Nevada. The alteration encompasses an area where northerly trending high angle faults intersect indicated NW trending re-activated faults that are known to be of age and orientation as ore-controlling faults occurring at other Carlin-type deposits. The Company intends to prioritize drill targets within the alteration area. Black Mammoth also has a 100% interest, subject to underlying royalties, in the Blanco Creek gold property in the Elk Creek Mining District, central Idaho which hosts three historic underground mines along 3550 meters (11,644 feet) of strike on the north-east trending regional Blanco Shear Zone. Exploration by two previous operators identified a geological target for the Blanco Creek property in the order of 1.7 to 2.48 million tons, grading 0.20 to 0.33 oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85 to 11.31 g/tonne Au); see the Company's press release dated February 14, 2017. Black Mammoth cautions investors to note the potential quantity and grade of the geological target are conceptual in nature. A qualified person has not completed sufficient work to classify the geological target as mineral resources as defined by NI 43-101, and it is uncertain if future exploration will result in the target being delineated as mineral resources. Mark J. Abrams, CPG #11451, a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and director of Black Mammoth, has reviewed and approved the technical content in this release. Historical information contained in this news release cannot be relied upon as Mr. Abrams, the Company's Qualified Person, has not prepared nor verified the historical information. On behalf of the board, "Dustin Henderson" Dustin Henderson, BBA President & CEO Black Mammoth Metals Corporation Phone: 604 347 9101 Email: blackmammothmetals@gmail.com Website: www.blackmammothmetals.com This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the Company's completion of the Transaction and related transactions are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include that the requisite corporate and TSXV for the Transaction may not be obtained; that the Company or IDA Mining, as applicable, may be unable to satisfy any or all closing conditions necessary for the completion of the Transaction; and other risks that are customary to transactions of this nature. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties. Neither 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.