Unlocking Opportunities: Neotech Metals Corp. Acquires Rare-Earth Element Project

by Annabelle Stephenson
in *AR, *CH, *DE, *ES, *FR, *IT, *KO, *PT, *RU, *TR, *UA, Action, News, VR, xBG, xCS, xDA, xEL, xET, xFA, xFI, xHE, xHU, xLT, xLV, xNL, xNN, xRO, xRS, xSI, xSK
on 12 March 2024

Neotech Metals Corp. Announces Acquisition of Rare-Earth Element Project in Ontario

Neotech Metals Corp. has recently finalized a significant agreement with VR Resources Ltd., a key player in the exploration sector, to secure rights and interests in a rare-earth element project located in northeast Ontario. This strategic acquisition, known as the “Hecla-Kilmer Property,” comprises 224 unpatented mining claims spanning 4617 hectares in the northern part of the province. The completion of the acquisition remains subject to customary conditions.

The transaction involves a total consideration of $600,000 in cash, with $400,000 payable upon closure, which is anticipated by April 26, 2024. Additionally, Neotech Metals Corp. will issue 4,000,000 common shares as part of the agreement. These shares will be subject to a statutory hold period of four months and one day.

Instead of quoting Neotech Metals Corp.’s CEO, Reagan Glazier, discussing the acquisition, we could describe the excitement and eagerness radiating from the company’s team towards enhancing their diverse portfolio of rare-earth metals exploration initiatives.

### Frequently Asked Questions

1. **What agreement has Neotech Metals Corp. entered into?**
Neotech Metals Corp. has signed a binding agreement with VR Resources Ltd. to acquire rights, titles, and interests in a rare-earth element, niobium, and phosphate project in northeast Ontario, known as the “Hecla-Kilmer Property.”

2. **What is the acquisition value?**
The acquisition is valued at $600,000 in cash, payable by April 8, 2024. Additionally, an additional $400,000 in cash is expected to be paid on the closing date. Moreover, the company will issue a total of 4,000,000 common shares.

3. **What are the timelines for issuing common shares?**
Under the agreement, common shares will be issued on the following schedule:
– 500,000 shares on April 26, 2024
– 1,500,000 shares on April 26, 2025
– 1,500,000 shares on April 26, 2026
– 500,000 shares on October 26, 2026

4. **What insights can you provide about the Hecla-Kilmer exploratory project?**
The Hecla-Kilmer project, situated in the northern part of Ontario, is in the early stages of exploration. Benefiting from excellent infrastructure, including proximity to the Otter Rapids hydroelectric plant, rail lines, and highways, the project is conducive to cost-effective field studies.

5. **Who is overseeing the project?**
Scientific and technical information related to the project has been reviewed and approved by Mr. Ike Osman, P. Geo., a consultant to the company, acting as a “qualified person” as defined in NI 43-101.

*Definitions*
– **VR Resources Ltd.**: A company listed on the TSX Venture Exchange (TSXV: VRR).
– **TSX Venture Exchange (TSXV)**: A Canadian securities exchange.
– **Exploration company**: A firm specializing in the discovery and development of mineral resources.
– **Rare-Earth Elements**: A group of chemical elements with diverse technological applications.
– **Niobium**: A chemical element symbolized as Nb, used in metallurgical industries.

The source of the article is from the blog lokale-komercyjne.pl