Canadian Metals announces a private placement and Board nominations
Error! Unknown document property name.
Canadian Metals Inc. CSE: CME
Canadian Metals Announces Private Placement and Appointment of New Directors
September 25, 2020 Montréal, Québec. - Canadian Metals Inc. (“ CME” or the “ Corporation”)
(CSE: CME) is pleased to announce that it will conduct a non-private placement (the “ Private
Placement”), pursuant to which it will issue up to an aggregate of 5,000,000 units (each, a
“Unit”) at a price of $0.08 per Unit for gross proceeds of up to $400,000.
Each Unit will be comprised of one common share in the capital of the Corporation (each, a
“Share”) and one non -transferable share purchase warrant (each, a “ Warrant”). Each Warrant
will entitle the holder to purchase one additional Share in the capital of the Corporation (each, a
“Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.15.
Insiders may participate in the Private Placement.
All securities issued in respect of the Private Placement will be subject to a hold period of four
(4) months and a day from closing of the Private Placement in accordance with securities laws.
The proceeds of the Private Placement will be used for general working capital.
The Corporation is also pleased to announce that Patrick Moryoussef, who’s been actively
advising the Corporation over the years, and Yves Rougerie have accepted to be appointed to
the board of directors.
Mr. Yves Rougerie, P.Geo. is a graduate of Montreal’s UQAM in Earth Sciences and brings 40
years of experience in the mining exploration and development business. He has been the
President and CEO of Vision Lithium and its predecessors since 2007. Throughout his career,
Mr. Rougerie has worked for several companies, including AREVA and AUR Resources. He
played a significant role in the exploration, discovery and de velopment phases of Aur
Resources’ Louvicourt Cu -Zn-Ag-Au Mine near Val -d’Or, participated in the discovery and
definition of Areva’s “L” uranium -gold deposit and Vision’s nearby Epsilon high grade
discoveries in the Otish Mountains and was responsible for the initial discovery of the Gladiator
gold deposit of Bonterra Resources, all in Quebec. Mr. Rougerie has a wide range of
experience in exploration techniques and project management pertaining to narrow -vein Gold,
VMS Cu-Zn, uranium-gold and lithium depo sits. Mr. Rougerie was also a founding Director of
Scorpio Mining Corporation, now Americas Gold and Silver Corp.
Mr. Patrick Moryoussef is Senior Vice President – Technical Services and Operational
Performance at Endeavour Mining. He previously served 1 6 years as Vice -President, Mining
Operations with SEMAFO inc. prior to the merger in July 2020 with Endeavour. In his past
career Mr. Moryoussef occupied various positions as General Manager, Senior Project
Engineer, Chief Engineer and Captain at various m ining operations within the Noranda, Placer
Dome and Falconbridge group. He has also acted as Administrator of various junior mining
companies. Expertise includes, mining, strategic development, financials, feasibility studies, 43 -
101, construction, acquisitions, and support to operations. Mr. Moryoussef is a professional
Error! Unknown document property name.
mining engineer graduate from McGill University and a member of Ordre des Ingénieurs du
Québec.
Mr. Rougerie and Mr. Moryoussef fill the vacancy created by Paul Dumas and Roger Urquhart,
who have resigned from the board of directors to pursue other ventures. The board thanks them
for their contributions to the Corporation and wishes them well in their future endeavours.
About Canadian Metals Inc.
Canadian Metals is a diversified resour ce company focused on creating shareholder value
through the development of large -scale mineral deposits in specific commodities and safe
jurisdictions.
For more information, please contact:
Stéphane Leblanc
President and CEO
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or
accuracy of this release.