Latin Metals Announces Expanded and Amended Private Offering for Up to $1.2 Million in Gross Proceeds, Canadian Business Journal

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VANCOUVER, British Columbia, October 18, 2022 (GLOBE NEWSWIRE) — Latin Metals Co., Ltd. (“Latin Metal” or “Company”) – (TSXV: LMS) (OTCQB: LMSQF) expands funding to up to 12,000,000 units on subscription following strong investor interest in an unbroken private placement (“Fundraising”) of units (each, a “Unit”) announced on September 21, 2022 announced that At a price of $0.10 per unit, it drives up to $1.2 million in total revenue. Under the amended funding terms, each unit now consists of one common share of Latin Metals’ equity (each a “Share”) and one Common Stock Purchase Warrant. Priced at $0.20 per share for 36 months from closing of funding. Certain directors and officers of the Company will subscribe for approximately 4,950,000 units (totaling $495,000) under the funding.

Proceeds of the loan are intended to fund ongoing exploration and general working capital for our mineral projects in Argentina and Peru.

For all or part of the funding, we charge a finder’s fee consisting of a cash fee equal to up to 7% of the total proceeds raised and a finder’s warrant equal to up to 7% of the total number of units issued. can pay for Each finder’s warrant gives its owner the right to purchase one share of her at a price of $0.10 per share for a period of twelve months from the closing of the financing.

All securities issued in connection with financing are subject to a hold period of 4 months and 1 day in Canada. The funding is subject to receipt of all necessary approvals, including final approval of the funding by the TSX Venture Exchange (“TSXV”) and applicable securities regulators. Participation by directors or officers in funding is considered a related party transaction within the meaning of Multilateral Agreement 61-101. Protection of Minority Shareholders in Special Transactions (“MI 61-101”). Related party transactions are exempt from the formal evaluation and minority shareholder approval requirements of MI 61-101. 25% of our market capitalization.

This news release does not constitute an offer to sell any of the aforementioned securities in the United States. None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or applicable state securities laws. for the account or interest of a United States Person (as defined in Regulation S under the Act of 1933) or a person in the United States without registration or an applicable exemption from such registration requirements; This news release does not constitute an offer to sell or the solicitation of an offer to buy, and no sale of the foregoing securities will take place in any jurisdiction where such offer, solicitation or sale would be unlawful.

On behalf of the Board of Directors

Latin Metals Co., Ltd.

“Keith Henderson”

President and CEO

For more information for company readers, please visit the company website (www.latin-metals.com) and SEDAR can be found at: www.sedar.com.

For more information, please contact:

Keith Henderson

Suite 890
999 West Hastings Street
Vancouver, BC, V6C 2W2

Phone: 604-638-3456
Email: [email protected]

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this news release.

This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and US securities laws (collectively, “forward-looking statements”). All statements, other than statements of historical fact, include statements regarding the completion of the financing, the participation of directors and officers in the financing, the use of the proceeds of the financing, and the results of the exploration program expected from the exploration activities; but not limited to these. , the discovery and depiction of mineral deposits/resources/reserves and the timing of the company’s anticipated business plans and future activities are forward-looking statements. While we believe such statements to be reasonable, there can be no assurance that such expectations will prove correct. Often, but not always, forward-looking statements are defined as “pro forma,” “plans,” “expects,” “may,” “intends,” “should,” “budget,” “expect”, “predict”, “predict”, “intend”, “anticipate”, “believe”, “likely”, or variations including negative variations of such words, and specific actions, events, or A phrase that refers to a result. may occur, may occur, may be obtained or achieved. In making the forward-looking statements in this news release, we have applied several important assumptions. This includes, but is not limited to, obtaining final TSXV approval and required corporate approvals for funding. Receipt of necessary permits, licenses and regulatory approvals in connection with demand and prices for metals and copper, future development of our projects in a timely manner, and on terms suitable for development, construction and continued operation. the availability of funding; our projects; and our ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ from forward-looking statements. may differ materially from any future results, performance or achievements expressed or implied by Such risks and other factors include, among other things, operational and technical issues related to mineral exploration and development and mining activities on our projects, estimation or realization of mineral reserves and resources, additional capital requirements, including future prices of precious metals. and copper, changes in general economic conditions, changes in demand and market prices for financial markets and commodities, lack of investor interest in future financing, potential fluctuations in ore grades or recovery rates, plants, equipment; or the possibility of failure of the process; operating as expected, accidents, labor disputes, and other risks of mining, TSXV, financing or other planned activities; delay or inability to do so, changes in laws and regulations, changes in laws and regulations, mining operations, currency fluctuations, policies affecting the distribution of property rights, limitations on insurance coverage and the timing and possible consequences of pending lawsuits, environmental issues and Liability, risks associated with communicable diseases or pandemics such as COVID-19 (including the impact of COVID-19 on our business) risks associated with ventures and acquisition integrations, and our latest management discussions and analysis , and factors discussed under the heading “Risk Factors” in other filings we file with the Canadian Securities Authorities. You can find it under the company profile on the SEDAR website at: www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements. Except as otherwise required by law, we do not undertake any obligation to update this news release or any forward-looking statements incorporated herein by reference.

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