C3 Metals Announces Closing of Fully Subscribed $8,050,000 Private Placement Financing
C3 Metals Announces Closing of Fully
Subscribed $8,050,000 Private Placement
Financing
Toronto, Ontario--(Newsfile Corp. - November 15, 2023) -
C3 Metals Inc.
(TSXV: CCCM) (OTCQB:
CUAUF) ("C3 Metals" or the "Company") is pleased to announce that it has closed its previously
announced non-brokered private placement (see press releases dated November 1, 2023 and
November 6, 2023) through the issuance of 115,000,000 common shares ("
Common Shares
") of the
Company at a price of $0.07 per Common Share for total gross proceeds of $8,050,000 (the
"
Offering
").
Proceeds from the Offering will be used primarily for continued exploration programs in Jamaica in
addition to exploration and property costs for the Jasperoide, Peru project, as well as for working capital
and general corporate purposes.
In connection with the Offering the Company paid certain eligible
finders cash commissions in the aggregate of $42,600 and an advisory fee of $107,100.
All securities issued in connection with the Offering are subject to a hold period expiring on March 16,
2024 and the resale rules of applicable securities legislation.
The Offering is subject to the final approval
of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy 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:
Dan Symons
President and CEO
+1 416 716 6466
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
is actively exploring in Jamaica where it has identified 16 porphyry and 40 epithermal prospects over a
30km strike extent across its 20,700 hectare exploration licences package.
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).
The Company also holds approximately 24,000 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.
Related Link:
www.c3metals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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 exploration operations of the Company and the timing which could be
affected by the current global COVID-19 pandemic. Those assumptions and factors are based on
information currently available to the Company.
Although such statements are based on reasonable
assumptions of the Company's management, there can be no assurance that any conclusions or
forecasts will prove to be accurate.
While the Company considers these assumptions to be reasonable based on information currently
available, they may prove to be incorrect. Forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or achievements
to be materially different from any future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks inherent in the exploration and development of
mineral deposits, including risks relating to changes in project parameters as plans continue to be
redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral
prices and the worldwide demand for and supply of minerals, risks related to increased competition and
current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on
key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the
necessary licenses and permits, financing, capitalization and liquidity risks.
The forward-looking information contained in this release is made as of the date hereof, and the
Company 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/187502