Chilean Approves 4:1 Consolidation
Chilean Approves 4:1 Consolidation
Toronto, ON. April 12, 2018 Chilean Metals Inc. (“Chilean Metals,” “CMX” or the “Company”)
(TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA: CMX) has approved a 4:1 rollback of its common
stock and intends to apply to the TSXV immediately to approve the consolidation. Under the Company’s
Articles and the Business Corporations Act (British Columbia), the board of directors may approve a
consolidation. The Company presently has 85,675, 655 shares outstanding which will consolidate into
approximately 21,418,913 post-consolidation comm on shares. The Company will require a new CUSIP
in connection with the consolidatio n. Post-consolidation it expects to secure additional financing of
approximately $1,000,000 at a price and terms to be de termined in the context of the post-consolidated
market.
“Consolidations are not a happy occurrence for share holders. We understand this and have tried to avoid
the issue but current conditions suggest that for the ultim ate benefit of the shareholder base that this is the
best decision. We believe this approach will provide a stronger platform for the future as we seek to
maximize our asset valuations. Prospective new invest ors have requested this approach and we agreed
subject to enabling our existing shareholders to have equal opportunity. To ensure existing shareholders
have an opportunity to participate in the next round, in addition to available pr ospectus exemptions such
as the accredited investor exemption, the Compa ny will be making use of the Existing Shareholder
Exemption as further defined below. This will ensure shareholders of record as of a particular date will be
eligible to participate in the round. We would ask an y shareholders who are interested to contact me at
the email address on this press release,” commented Chilean CEO Terry Lynch.
The next round of financing is expected to be conducted in reliance upon available prospectus
exemptions, including the existing shareholder exemption (the “ Existing Shareholder Exemption ”)
contained in OSC Rule 45-501, BCI 45-534 and va rious corresponding blanket orders and rules of
participating jurisdictions.
The Company will set a record date for the purpose of determining existing shareholders entitled to
purchase securities pursuant to the Existing Sharehol der Exemption. Subscribers purchasing securities
under the Existing Shareholder Exemption will need to represent in writing that they meet certain
requirements of the Existing Shareholder Exemption, in cluding that they were, as of the record date and
continue to be as of the date of closing for th eir subscription, a shareholder of the Company. The
aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed
$15,000 unless that subscriber has obtained advice obtained from a registered investment dealer regarding
the suitability of the investment. Further information will be included in a future news release announcing
the financing.
About Chilean Metals,
www.chileanmetals.com/
Chilean Metals Inc. is a Canadian Junior Expl oration Company focusing on high potential Copper Gold
prospects in Chile & Canada.
Chilean Metals Inc is 100% owner of five properties comprising over 50,000 acres strategically located in
the prolific IOCG (“Iron oxide-coppe r-gold”) belt of northern Chile. It also owns a 3% NSR royalty
interest on any future production from the Copaquire Cu-Mo deposit, recently sold to a subsidiary of
Teck Resources Inc. (“Teck”). Under the terms of the sale agreement, Teck has the right to acquire one
third of the 3% NSR for $3 million dollars at a ny time. The Copaquire property borders Teck’s
producing Quebrada Blanca copper mine in Chile’s First Region.
Chilean Metals Inc is the 100% owner of four Coppe r Gold exploration propertie s in Nova Scotia on the
western flank of the Cobequid-Chedabucto Fault Z one (CCFZ); Fox River, Parrsboro, Lynn and Bass
River North respectively. Initial targeting and geophys ics has been conducted on all properties, At Bass
River North, airborne geophysics identified a major VTEM cluster on trend with the Pb/Zn/Ag
mineralization exposed at surface and in drill holes to the southwest. Modeling of the airborne data by
Minotaur (Australia) identified 3 priority target s recommended for ground-based geophysics prior to
drilling.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Chilean Metals Inc.
“Terry Lynch”
Terry Lynch, CEO
Contact: [email protected]
Forward-looking Statements: This news release may contain certain statements that may be deemed
"forward-looking statements". All statements in this rel ease, other than statements of historical fact, that
address events or developments that CMX expects to occur, are forward looking statements. Forward-
looking statements are statements that are not histor ical facts and are generally, but not always, identified
by the words "expects", "plans", "a nticipates", "believes", "intends", "estimates", "projects", "potential"
and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements in this document include statements regarding current and future exploration
programs, activities and results. Although CMX believ es the expectations expressed in such forward-
looking statements are based on reasonable assumptions , such statements are not guarantees of future
performance and actual results may differ materially from those in forward-looking statements. Factors
that could cause the actual results to differ materially from those in forward-looking statements include
market prices, exploitation and e xploration success, continued availa bility of capital and financing,
inability to obtain required regulatory or government al approvals and general economic, market or
business conditions. Investors are cautioned that an y such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation S ervices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.