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News Release

Friday, August 21, 2020: RT MINERALS CORP. EXPANDS PRIVATE PLACEMENT

Vancouver, B.C. – August 21, 2020 ‐ RT Minerals Corp. (TSX.V: RTM) (OTC Pink: RTMFD) (the “Company”) is pleased to announce that further to its news release of August 11, 2020, the Company has expanded the flow-through portion of its non-brokered private placement to raise gross proceeds of up to $392,000 through the issuance of 5,600,000 flow-through units priced at $0.07 (the “FT Units”).  Each FT Unit consists of one flow-through common share and one half of one share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.08 for a term of three years.

 

In addition to the flow-through portion of the Offering, the Company proposes to raise up to $700,000 through the sale of up to 14,000,000 non flow-through units priced at $0.05 (the “NFT Units”). Each NFT Unit consists of one common share and one share purchase warrant (the “Warrant”) exercisable into one further common share at a price of $0.07 for a term of three years.  

 

The proceeds from the sale of the flow-through portion of the Offering will be used for exploration activity on the Company’s 100% owned Norwalk gold property located near Wawa, Ontario, where drilling is expected to commence in September 2020 subject to completion of the Offering.  The proceeds from the sale of the non flow-through portion of the Offering will be used for additional exploration work, project acquisitions, payment of debt and trade payables and for general working capital.

 

Finders’ fees of 8% cash and 8% warrants exercisable at $0.08 per warrant may be payable on a portion of the Offering in accordance with the policies of the TSX Venture Exchange (“TSXV”).  The Offering is subject to the acceptance of the TSXV.

 

For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.

 

 

FOR FURTHER INFORMATION CONTACT:

Donald M.
Clark Chairman, President and Chief Executive Officer
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the overall size of the Offering, the proposed use of proceeds and the expected closing of any tranches thereof) and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company.  Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.  All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com.  These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.  

 

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Disclaimer

The Canadian National Stock Exchange has neither approved nor disapproved of the information contained herein.

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