• 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.

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