- US Critical Metals (USCM) announced a brokered private placement for gross proceeds of up to C$3,500,000
- The company will issue up to 10,000,000 units priced at C$0.35 per unit
- Proceeds will be used for exploration and working capital purposes
- US Critical Metals is focused on mining projects to secure the US critical metals supply
- US Critical Metals Corp. (USCM) opened trading at C$0.405
US Critical Metals (USCM) announced a brokered private placement for gross proceeds of up to C$3,500,000.
The offering, to be led by Echelon Wealth Partners Inc., will consist of up to 10,000,000 units priced at C$0.35 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of C$0.55 for three years from the closing date of the offering.
Warrants are subject to an acceleration clause.
The company has granted the agent an over-allotment option.
The company will apply to list the common shares on the TSXV upon the closing of the offering.
Net proceeds will be used for exploration of the Clayton Ridge Lithium Project, the Sheep Creek REE Property, the Haynes Cobalt Project and for general and working capital purposes.
The company will pay a cash commission and issue broker warrants to the agent.
The offering is expected to close on or about March 22, 2023.
The securities issued will be subject to a statutory four-month hold period.
About US Critical Metals Corp.
USCM is focused on mining projects that will further secure the US supply of critical metals and rare earth elements. USCM’s assets consist of four agreements, each providing USCM with the right to acquire interests in five projects, including the Clayton Ridge Lithium Project in Nevada, the Sheep Creek Rare Earth Project in Montana, the Haynes Cobalt Project in Idaho, the Lemhi Pass Rare Earth Project in Idaho and the Long Canyon Uranium Project in Idaho.
US Critical Metals Corp. (USCM) opened trading at C$0.405.