03:41:59 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



RT Minerals Corp (4)
Symbol RTM
Shares Issued 60,044,654
Close 2023-02-06 C$ 0.015
Market Cap C$ 900,670
Recent Sedar Documents

RT Minerals arranges 1:10 share rollback

2023-02-06 16:52 ET - News Release

Mr. Douglas Andrews reports

RT MINERALS CORP. PROPOSES SHARE CONSOLIDATION AND FINANCING

By a resolution of RT Minerals Corp.'s board of directors passed effective Feb. 3, 2023, the directors are authorized to consolidate the issued and outstanding common shares of the company on a basis of one new common share for every 10 existing common shares. Currently, there are 60,044,654 common shares issued and outstanding and following the share consolidation, 6,004,465 common shares will be issued and outstanding. It is anticipated that the share consolidation will be implemented as soon as practicable.

The board of directors is proceeding with the share consolidation on the basis that it will provide the company with increased flexibility to seek additional financing opportunities. The share consolidation is subject to the acceptance of the TSX Venture Exchange. The company's name and stock symbol will remain unchanged following the share consolidation.

The company proposes to raise up to $450,000 by way of non-brokered private placement(s) following completion of the share consolidation. The terms and conditions of the financing will be announced at that time in accordance with the policies and subject to the approval of the TSX-V. The proceeds from the financing will be used to pay outstanding trade payables, general working capital, as well as completing initial prioritization of exploration targets and programs on the company's portfolio of rare-earth element and gold properties in Ontario, Canada.

About RT Minerals Corp.

RT Minerals is a junior exploration company listed on the TSX Venture Exchange under the symbol RTM. The company holds a 100-per-cent royalty-free interest in a portfolio of rare-earth element, gold and base metal properties in Ontario: the Ireland, Milligan, Blakelock, McQuibban and Timmins properties. The company also holds an option to acquire a 100-per-cent interest in the Link-Catharine RLDZ gold property located 22 kilometres south-southeast of the town of Kirkland Lake, Ont.

Ireland property (rare-earth element) is a royalty-free 52 claim block (421 hectares) covering an inferred carbonatite complex located in Ireland township, 45 kilometres northeast of Smooth Rock Falls, Ont. The Ireland complex is 100 per cent owned by RTM and is approximately 4.0 km long, 2.8 km wide, oval shaped and is positioned along a southern extensional splay fault contained within the Kapuskasing structural trend. The Kapuskasing structural trend contains several well-documented carbonatite complexes that contain niobium, iron, titanium and rare-earth element resources within various assemblages of carbonatite rocks.

Link-Catharine RLDZ property (gold) comprises 15 unpatented single-cell mining claims with a total area of 220 hectares in one claim block. The Link-Catharine property is located 22 km south-southeast of the town of Kirkland Lake, Ont. RTM has an option to earn a 100-per-cent interest in this property subject to a 2-per-cent NSR (net smelter return).

Milligan property (gold) is a royalty-free 16-claim block (129 hectares) located approximately 75 km northeast of Timmins, Ont., and is 100 per cent owned by RTM. The Milligan property covers the southeast extension of the volcanic stratigraphy hosting the Eastford Lake gold discovery of 142.2 g/t Au over 3.0 m announced by Explor Resources in 2009.

Blakelock property (gold) is a royalty-free nine-claim block (73 hectares) located approximately 75 km northeast of Cochrane, Ont., and is 100 per cent owned by RTM. The property is host to a massive east-west-trending magnetic high intrusive complex that was subject to limited drilling in 1967.

Mcquibban property (gold) is a royalty-free 19-claim block (153 hectares) located approximately 50 km north of Cochrane, Ont., and is 100 per cent owned by RTM. The property hosts a strong 3.0 km long east-west-trending inferred oxide facies banded iron formation, in which one historical drill hole encountered a gold mineralized interval of 5.47 g/t Au over 1.2 m.

Timmins property (base metals) is a royalty-free 16-claim block (129 hectares) located approximately 50 km southeast of Timmins, Ont., and is 100 per cent owned by RTM. The property features several mineralized fault systems that suggest proximity to a base metal source.

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