December 23, 2021 neoterrex

NeoTerrex Corporation Raises Over $5 Million

Ottawa, Ontario – December 23, 2021 – NeoTerrex Corporation (“NeoTerrex” or the “Company“) is pleased to announce that it has completed a brokered private placement (the “Offering“) of 46,844,000 common shares (the “Common Shares“) of the Company at a price of C$0.10 per Common Share and 5,600,000 flow-through common shares (the “Flow-Through Shares“) of the Company at a price of C$0.125 per Flow-Through Share for gross proceeds of C$5,384,400 (the “Private Placement“).

NeoTerrex intends to use the gross proceeds from the Flow-Through Shares exclusively to fund the Company’s exploration program on its projects located in Canada and the balance of the net proceeds of the Private Placement to fund exploration programs, working capital and for general corporate purposes.

The Offering was led by iA Private Wealth Inc. (“iA” or the “Agent”) and in consideration for their services, the Agent received a cash commission equal to 7.5% of the gross proceeds of the Offering, other than in respect of certain purchasers on a president’s list (the “President’s List”), in which case such cash commission was reduced to 1.0%. Additionally, the Agent received broker warrants (the “Broker Warrants“) to purchase such number of common shares equal to 7.5% of the number of Common Shares issued under the Offering, other than in respect of certain purchasers on the President’s List, in which case such number of Broker Warrants was reduced to 1.0%. The Broker Warrants are exercisable at a price per common share equal to the issue price of the Offering for a period of 24 months from the closing of the Offering.

NeoTerrex Corporation is a private rare earth elements exploration company which is focused on developing exploration projects of high grade critical rare earth oxide. The Company has two key projects, the Mount Discovery and Greenwinds projects, both being located in the province of Quebec. The Quebec Government geological database (Sigeom) indicates the presence of high values of critical rare earth elements on both properties including neodymium and praseodymium, which are highly sought-after light rare earth elements crucial in the production of electric vehicles, military equipment, and medical devices. Demand for them has increased in recent years with the growth of technology and should continue to climb with the development of the electric vehicle market.

About NeoTerrex Corporation

NeoTerrex is a private Canadian mineral exploration corporation focused developing rare earth elements properties in Canada. The Corporation owns two prospective rare earth projects located in the favorable jurisdiction of Quebec and with access to excellent infrastructure.

Forward-looking Statements

This news release includes certain statements which are not comprised of historical facts and that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements include estimates and statements that describe NeoTerrex’s future plans, objectives or goals, including words to the effect that NeoTerrex or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “foresees” or “plan”. Since forward-looking statements are based on multiple factors, assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to NeoTerrex, NeoTerrex provides no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied by such forward-looking information. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from NeoTerrex’s expectations include, among otherspolitical, economic, environmental and permitting risks, mining operational and development risks, litigation risks, regulatory restrictions, environmental and permitting restrictions and liabilities, the inability of NeoTerrex to raise capital or secure necessary financing in the future. Although NeoTerrex has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. NeoTerrex considers its assumptions to be reasonable based on information currently available, but there can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For Further Information

Mathieu Stephens, President & Chief Executive Officer

Shanda Kilborn

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