Mr.
Alson Niu reports
RT MINERALS CORP. COMPLETES ACQUISITION OF THE ROGUE PROPERTY
RT Minerals Corp. has successfully completed of its acquisition of
100 per cent of the issued and outstanding shares of 1502493 B.C. Ltd., effective
Jan. 13, 2025. With this acquisition, RT Minerals now indirectly holds a 100-per-cent interest in the
Rogue property through its wholly owned subsidiary, 1502493 B.C.
The Rogue property is located on the Baie Verte peninsula in western Newfoundland, an area
renowned for its high mineral exploration potential.
Under the terms of the definitive share exchange agreement, which was circulated for signatures on Oct. 21, 2024, and fully executed on Nov. 18,
2024, between RT Minerals, 1502493 B.C. and its shareholders, RT Minerals issued an
aggregate of 3.5 million common shares in the capital of RT
Minerals. The consideration shares were issued at a deemed price of 10 cents per share on a pro
rata basis in exchange for all outstanding shares of 1502493 B.C.
Transaction details and disclosures:
-
Arm's-length transaction: The transaction is considered an arm's-length transaction
as none of the shareholders of 1502493 B.C. are directors, officers or hold greater
than 10 per cent of the shares of RT Minerals.
-
No debt assumed: RT Minerals did not assume any long-term debt as part of this
transaction.
-
No finders' fees: No finders' fees were paid in connection with this transaction.
- No change in control: This transaction did not result in a change of control or the
creation of any new control persons.
The consideration shares were issued pursuant to the takeover bid and issuer bid prospectus
exemption under Section 2.16 of National Instrument 45-106, Prospectus Exemptions, and are
not subject to resale restrictions. All necessary regulatory approvals, including those from the
TSX Venture Exchange, and customary closing conditions were satisfied prior to the
completion
of the transaction.
About RT Minerals Corp.
RT Minerals is a junior exploration company listed on the TSX-V under
the symbol RTM. The company holds a diverse portfolio of assets with interests in rare earth
elements, gold and base metals, located primarily in Ontario and Newfoundland, Canada.
We seek Safe Harbor.
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