#RareEarth #Metals Alert - Defense Metals (TSX-V: $DEFN.V)
(OTCQB: $DFMTF) FUNDS PRELIMINARY ECONOMIC ASSESSMENT; @DefenseMetals
Vancouver, British Columbia – December 23, 2020: Mining/Metals/ Green Energy Stock News from
Investorideas.com Newswire - Defense Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF/is pleased to
announce that 3,157,828 warrants with an exercise price of $0.20 were exercised
and the remaining unexercised warrants with an expiry date of December 21, 2020
have expired. The proceeds of the exercise of these warrants were $631,565.60.
The use of proceeds will be used to complete the
preliminary economic assessment (PEA) in the new year, and for general working
capital and corporate purposes.
Read this news, featuring DEFN in full at https://www.investorideas.com/news/2020/mining/12231DEFN-Economic-Assessment.asp
Craig Taylor, CEO comments:
“The exercise of warrants adds further funds to our
company and will assist in advancing the Wicheeda Rare Earth Elements project.
We have made tremendous progress over the past two years and we look forward to
continuing that success in 2021.”
Wicheeda
REE Project
The Wicheeda REE project has
indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light
Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes
averaging 2.90% LREO[1].
Qualified Person
The
scientific and technical information contained in this news release has been
reviewed and approved by Kristopher
J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB,
a director of Defense Metals and a “Qualified Person” as defined in National
Instrument 43-101 – Standards of
Disclosure for Mineral Projects.
About
Defense Metals Corp.
Defense
Metals Corp. is a mineral exploration company focused on the acquisition of mineral
deposits containing metals and elements commonly used in the
electric power market, military, national security and the production of
“GREEN” energy technologies, such as, high strength alloys and rare earth
magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare
Wicheeda Rare Earth Element Property located near Prince George, British
Columbia, Canada. Defense Metals Corp.
trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the
United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt
Exchange under “35D”.
For
further information, please visit https://defensemetals.com/ or contact:
Todd
Hanas, Bluesky Corporate Communications Ltd.
Vice
President, Investor Relations
Tel:
(778) 994 8072
Email:
todd@blueskycorp.ca
Neither the 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 news release.
Cautionary
Statement Regarding Forward Looking Information
This
news release contains “forward‐looking information
or statements” within the meaning of applicable securities laws, which may
include, without limitation, statements relating to the Company’s plans for its
Wicheeda project, use of funds, completion of PEA, exercise of option to
acquire 100% of the Wicheeda project, the technical, financial and business
prospects of the Company, its project and other matters. All statements in this
news release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Such statements and
information are based on numerous assumptions regarding present and future
business strategies and the environment in which the Company will operate in
the future, including the price of rare earth elements, the ability to achieve
its goals, that general business and economic conditions will not change in a material
adverse manner, that financing will be available if and when needed and on
reasonable terms. Such forward-looking information reflects the Company’s views
with respect to future events and is subject to risks, uncertainties and
assumptions, including those filed under the Company’s profile on SEDAR at
www.sedar.com. Factors that could cause actual results to differ materially
from those in forward looking statements include, but are not limited to,
continued availability of capital and financing and general economic, market or
business conditions, adverse weather conditions, failure to maintain or obtain
all necessary government permits, approvals and authorizations, failure to
maintain community acceptance (including First Nations), decrease in the price
of rare earth elements, the impact of Covid-19 or other viruses and diseases on
the Company’s ability to operate increase in costs, litigation, and failure of
counterparties to perform their contractual obligations. The Company does not
undertake to update forward‐looking statements
or forward‐looking information, except as required by
law.
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[1] Technical Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and prepared by APEX Geoscience Ltd. (Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo) is available under Defense Metals Corp.’s profile on SEDAR (www.sedar.com)
