CCCM.V · 2025-03-19 12:00:00

C3 Metals Announces Closing of $11,500,000 Bought Deal Private Placement

Financings

C3 Metals Announces Closing of $11,500,000

Bought Deal Private Placement

Toronto, Ontario--(Newsfile Corp. - March 19, 2025) -

C3 Metals Inc.

(TSXV: CCCM) ("

C3 Metals

" or

the "

Company

") is pleased to announce that, further to its press release of February 27, 2025, it has

closed its bought deal private placement of 23,000,000 common shares in the capital of the Company

(the "

") at a price of C$0.50 per Share for gross proceeds of $11,500,000 (the "

Offering

"),

which includes the exercise of the over-allotment option.

The Offering was conducted pursuant to the terms and conditions of an underwriting agreement entered

into between the Company, Paradigm Capital Inc. and Canaccord Genuity Corp., as co-lead

underwriters, BMO Nesbitt Burns Inc. and Cormark Securities Inc. (collectively, the "

Underwriters

").

As consideration for the services provided by the Underwriters in connection with the Offering, the

Company paid the Underwriters a fee of $690,000, equal to 6% of the proceeds of the Offering.

The Company intends to use the net proceeds of the Offering for exploration and development activities

at the Khaleesi belt of the Company's Jasperoide Copper-Gold project, for exploration and development

activities at the Company's Super Block project, and general corporate and working capital purposes.

All securities issued in connection with the Offering are subject to a statutory hold period ending July 20,

2025. The Offering is subject to the final acceptance of the TSX Venture Exchange.

The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy

5.9 and Multilateral Instrument 61-101 -

Protection of Minority Security Holders in Special Transactions

MI 61-101

") as an insider of the Company acquired 2,000,000 Shares pursuant to the Offering. The

Company is relying on the exemptions from the valuation and minority shareholder approval

requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is

not listed on a specified market and the fair market value of the participation in the Offering by the insider

does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The

Company did not file a material change report in respect of the related party transaction at least 21 days

before the closing of the Offering, which the Company deems reasonable in the circumstances in order

to complete the Offering in an expeditious manner.

The securities offered have not been registered under the United States Securities Act of 1933, as

amended ("

U.S. Securities Act

"), or any securities laws of any state of the United States, and may not

be offered or sold in the United States or to, or for the account or benefit of, a U.S. person absent

registration or an exemption from such registration requirements. This press release shall not constitute

an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit

of, a U.S. person nor shall there be any sale of the securities in any state of the United States in which

such offer, solicitation or sale would be unlawful. "United States" and "U.S. persons" are as defined in

Regulation S under the U.S. Securities Act.

For additional information, contact:

Dan Symons

President and CEO

+1 416 716 6466

[email protected]

ABOUT C3 METALS INC.

C3 Metals Inc. is a mineral exploration company focused on creating substantive value for its

shareholders through the discovery and development of large copper and gold deposits. The Company

holds approximately 30,000 hectares located in the prolific high-grade Andahuaylas-Yauri Porphyry-

Skarn belt of Southern Peru. Mineralization at Jasperoide is hosted in a similar geological setting to the

nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay

(Glencore). At Jasperoide, the Company has identified over 15 skarn prospects and an outcropping

porphyry system over two parallel 28km belts. The Company has published a maiden resource estimate

on the first of these skarn targets, which contained Measured & Indicated Resources of 52Mt at 0.5%

copper and 0.2 g/t gold. The Company is also actively exploring in Jamaica where it has identified 16

porphyry, 40 epithermal and multiple volcanic redbed copper prospects over a 30km strike extent. The

Company holds a 100% interest in 17,855 hectares of exploration licenses, of which Freeport-McMoRan

Exploration Corporation, a wholly-owned affiliate of Freeport-McMoRan Inc., has the option on 13,020

hectares to earn up to a 75% interest by funding up to US$75 million of exploration and project related

expenditures. The Company also holds a 50% interest in 9,870 hectares in a joint venture with Geophsyx

Jamaica Ltd, the largest mineral tenure holder in the country. Barrick Gold Corp. announced on May 1,

2024 that it had entered into an earn-in agreement with Geophysx Jamaica Ltd. on approximately

400,000 hectares of exploration licenses, several of which surround C3 Metals' mineral concessions.

Mining is currently the second largest industry in Jamaica, and historical mining dates back to the

colonial eras of the 1500s (Spanish) and 1800s (British).