- CMC Metals (CMB) has announced its proposed non-brokered private placement for aggregate gross proceeds of up to $2,120,000
- The company will issue up to 8,500,000 flow-through units and up to 4,500,000 non-flow-through units
- Net proceeds will be primarily directed towards exploration drilling on the company’s flagship Silver Hart Project
- CMC Metals is a growth stage exploration company focused on opportunities for high-grade polymetallic deposits in Yukon, British Columbia and Newfoundland
- CMC Metals Ltd. (CMB) is up 7.41 per cent, trading at C$0.145 per share
CMC Metals (CMB) has announced its proposed non-brokered private placement for aggregate gross proceeds of up to $2,120,000.
The company will issue up to 8,500,000 flow-through units and up to 4,500,000 non-flow-through units.
Each FT unit will consist of one common share and one-half of one transferrable non-flow-through share purchase warrant. Each unit will consist of one common share and one-half of one warrant. Each whole warrant will entitle the holder to acquire one non-flow-through common share at a price of C$0.20 for a period of 24 months from the closing date of the offering.
Net proceeds will be used to fund the company’s exploration program at its silver-lead-zinc properties in the Rancheria Silver District, Yukon/British Columbia and its polymetallic copper-silver-lead properties in central Newfoundland, as well as a range of other exploration activities and general corporate purposes. A major focus of the funding will be directed towards exploration drilling on the company’s flagship Silver Hart Project.
The company may pay finders’ fees comprised of cash and non-transferable warrants in connection with the offering.
All securities issued will be subject to a four-month hold period. Closing is subject to the approval of the TSX Venture Exchange.
CMC Metals is a growth stage exploration company focused on opportunities for high-grade polymetallic deposits in Yukon, British Columbia and Newfoundland.
CMC Metals Ltd. (CMB) is up 7.41 per cent, trading at C$0.145 per share at 1:45 pm EST.