CULICO METALS INC. COMPLETES INVESTMENT INTO AMERICAS GOLD AND SILVER CORPORATION

TORONTO, Nov. 12, 2024 /CNW/ - Culico Metals Inc. (TSXV: CLCO) ("Culico", or the "Corporation"), a TSXV Sandbox issuer, is pleased to announce a strategic equity investment of C$4,000,000 (the "Investment") into Americas Gold and Silver Corporation ("AGSC"), a precious metals company with two operations: the Galena Complex in Idaho, USA and Cosalá in Sinaloa, Mexico.

Culico has invested C$4,000,000 in exchange for 10,000,000 common shares of AGSC (the "Purchased Shares") at a price of C$0.40 per Purchased Share. The Purchased Shares are subject to a four-month plus one day hold period from the date of issuance, and the Investment is subject to the final acceptance of the TSX Venture Exchange (the "TSXV").

Culico is currently listed pursuant to the TSXV Sandbox, and will remain so until, among other things, Culico has deployed at least C$4,663,000.00 to at least two qualifying investments that are satisfactory to the TSXV. Following the completion of the Investment, Culico is now required to deploy at least C$663,000 to at least one more qualifying investment prior to August 14, 2025. Investors are advised to read the Corporation's news release dated August 14, 2024 for more information regarding the waivers granted in connection with the Corporation's listing, details on the listing conditions imposed on the Corporation, the exit conditions the Corporation must meet in order to exit TSXV Sandbox, and any consequences if the Corporation does not meet these exit conditions.

About Culico Metals Inc.

Culico is a company focused on creating value in the mineral exploration, development and production sector. Culico's current assets include a 1% lithium royalty on certain mining interests held by Kali Metals Limited (ASX: KM1) and the right to receive a deferred consideration payment due to the on-sale of the Dumont project. The Dumont project is a large-scale nickel deposit located 25 km west of the town of Amos in the established Abitibi mining camp in the mining-friendly Canadian province of Québec. Culico holds an interest in the net proceeds from a future sale or other monetization event involving the Dumont project.

Cautionary Note Regarding Forward-looking Statements

This news release contains certain "forward-looking statements" under applicable Canadian securities laws concerning the business, operations and financial performance and condition of Culico. Except for statements of historical fact relating to Culico, all statements included herein are forward-looking statements. The words "believe", "expect", "strategy", "target", "plan", "scheduled", "commitment", "opportunities", "guidance", "project", "continue", "on track", "estimate", "growth", "forecast", "potential", "future", "extend", "planned", "will", "could", "would", "should", "may" and similar expressions typically identify forward-looking statements. In particular, this news release contains forward-looking statements including, without limitation, information and statements regarding: the Investment; the business and operations of Culico and AGSC; the receipt of final acceptance from the TSXV; and the Corporation's ability to meet all the exit conditions in order to exit TSXV Sandbox.

Forward-looking statements are necessarily based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Culico and there is no assurance they will prove to be correct.  

These factors are discussed in greater detail in Culico's TSXV Form 2B – Listing Application, filed under the Corporation's issuer profile on SEDAR+, which also provides additional general assumptions in connection with these statements. Culico cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail.

Although Culico has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Culico undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Comparative market information is as of a date prior to the date of this document. Further, the forward-looking statements included herein speak only as of the date of this news release.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Investors are advised that the Corporation has been listed on TSXV as a TSXV Sandbox Listing as the Corporation did not meet all TSXV's listing requirements at the time of listing. Investors are advised to read the Corporation's news release dated August 14, 2024 to review all waivers granted in connection with the Corporation's listing, details on the listing conditions imposed on the Corporation, the exit conditions the Corporation must meet in order to exit TSXV Sandbox, and any consequences if the Corporation does not meet these exit conditions. There can be no assurance that the Corporation will meet all the Exit Conditions. For details on TSXV Sandbox, please visit (https://www.tsx.com/en/listings/tsx-and-tsxv-issuer-resources/tsx-venture-exchange-issuer-resources/tsxv-sandbox). 

www.culicometals.com 

SOURCE Culico Metals Inc.

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