C3 Metals Announces Closing of Bought Deal Private Placement
C3 Metals Announces Closing of Bought Deal
Private Placement
Toronto, Ontario--(Newsfile Corp. - November 9, 2021) -
C3 Metals Inc.
(TSXV: CCCM) ("
C3 Metals
"
or the "
Company
") is pleased to announce that, further to its press releases of October 19, 2021 and
October 21, 2021, it has closed the bought deal private placement through the issuance of 101,582,178
common shares in the capital of the Company (the "
Shares
") at a price of C$0.19 per Share for gross
proceeds of C$19,300,614 (the "
Offering
"), which includes the partial 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 and a syndicate of underwriters led by Canaccord Genuity Corp.
("
Canaccord
"), as lead underwriter, and including Haywood Securities Inc. and Beacon Securities
Limited (collectively with Canaccord, the "
Underwriters
").
As consideration for the services provided by the Underwriters in connection with the Offering, the
Company: (i) paid a cash commission equal to 6% of the proceeds of the Offering (except, with respect
to certain purchasers on a "President's List", the commission being equal to 3%); and (ii) issued non-
transferrable compensation warrants (the "
Compensation Warrants
") equal to 6% of the number of
Shares issued under the Offering (except, with respect to certain purchasers on a "President's List", no
Compensation Warrants being issued). Each Compensation Warrant entitles the holder thereof to
purchase one Share at an exercise price of C$0.19 per Share until November 9, 2023.
Gross proceeds of the Offering will be used to expand the drill program at the Company's 100% owned
Jasperoide high-grade copper-gold skarn property in Peru and to undertake a maiden drill program at
the Company's Bellas Gate property in Jamaica and for general working capital and corporate
purposes.
All securities issued in connection with the Offering are subject to a statutory hold period of four (4)
months and one (1) day from the date of issuance. The Offering is subject to the final acceptance of the
TSX Venture Exchange.
Tectonic Advisory Partners acted as advisor to C3 Metals (Tectonic Securities transactions are
executed through Ecoban Securities Corporation).
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
For additional information, contact:
Kevin Tomlinson
President & CEO
Alec Rowlands
Vice President, Investor Relations
+1 416 572 2512
ABOUT C3 METALS INC.
C3 Metals Inc. (
www.c3metals.com
)
is a Canadian-based exploration company focused on the
discovery and development of large copper-gold deposits with properties in Peru, Jamaica and
Canada.
The Company's flagship project is the Jasperoide high-grade copper-gold skarn and porphyry system
located in the prolific Andahuaylas-Yauri Mineral Belt of southern Peru.
Mineralization at Jasperoide is
hosted in a similar geological setting to nearby major mining operations at Las Bambas (MMG),
Constancia (Hudbay) and Antapaccay (Glencore).
Drilling commenced in February 2021, returning high-
grade copper-gold mineralization over significant thicknesses.
The ongoing program has been
expanded to test multiple geophysical targets.
In Jamaica, the Company's 100% interest licenses cover 207 km
2
of highly prospective copper-gold
terrain where multiple porphyries have been delineated.
The Company is advancing fieldwork on new
areas of interest.
In Canada, C3 Metals holds a 100% interest in the 91 km
2
Mackenzie porphyry
copper-gold project within the Cascade Magmatic Arc in southwestern British Columbia.
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking information and are based on
the Company's current belief or assumptions as to the outcome and timing of such future events. Actual
future results may differ materially. In particular, this release contains forward-looking information relating
to, among other things, the use of proceeds from the Offering, and the receipt of final approval of the
TSX Venture Exchange. Various assumptions or factors are typically applied in drawing conclusions or
making the forecasts or projections set out in forward-looking information. Those assumptions and
factors are based on information currently available to C3 Metals. Although such statements are based
on reasonable assumptions of C3 Metal's management, there can be no assurance that any conclusions
or forecasts will prove to be accurate.
The forward-looking information contained in this release is made as of the date hereof, and C3 Metals
is not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly qualify any forward-looking information
contained herein.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/102585