Chilean Metals Announces Best Efforts Financing
Chilean Metals Announces Best Efforts Financing
Toronto, ON. February 17th, 2020. Chilean Metals Inc. (“Chilean Metals,” “CMX” or the “Company”)
(TSX.V:CMX, SSE:CMX, MILA: CMX ) intends to complete a previously announced best efforts
financing of up to $1.5 million. The proposed financing would be by way of issuance of up to 30,000,000
units at $.05 per unit. Each unit will be comprised of one common share of the Corporation (a “Common
Share”) and one common share purchase warrant (a “Warrant”), with each whole Warrant exercisable into
a common share of the Corporation (a “Warrant Share”) at an exercise price of $0. 05 per Warrant Share
for a period of 24 months from date of closing of this offering . Participating brokers will be paid a
commission of 8% and provided a broker warrant entitling them to acquire 8% of the amount invested in
units for a period of 24 months.
Funds will be used to advance exploration and drilling on target s in Chile, to repay outstanding bills of
approximately $200,000 and to provide working capital. The best efforts financing is open to existing
shareholders of record as of February 14th 2020.
“Chilean believes now is the time to complete the previously a nnounced financing. Approximately
$700,000 has been raised under that financing and advanced to the Company. The additional capital will
enable us to move forward with our drill program in Chile and to look at additional opportunities. We
believe mining markets are turning and believe now is the time to engage” commented Chilean CEO Terry
Lynch.
This financing will 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 various corresponding blanket orders and rules of participating jurisdictions.
The Company has set a Feb 14th record date for the purpose of determining existing shareholders entitled
to purchase securities pursuant to the Existing Shareholder Exemption. Subscribers purchasing s ecurities
under the Existing Shareholder Exemption will need to represent in writing that they meet certain
requirements of the Existing Shareholder Exemption, including that they wer e, as of the record date and
continue to be as of the date of closing for their 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. Any shareholder interested in the financing is asked to email Terry Lynch at
About Chilean Metals,
www.chileanmetals.com/
Chilean Metals Inc. is a Canadian Junior Exploration 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-copper-gold”) belt of northern Chile. It also owns a 3% NSR royalty interest
on any future production from the Copaquir e 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 any time. The Copaquire property borders Teck’s producin g
Quebrada Blanca copper mine in Chile’s First Region.
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 statemen ts that may be deemed
"forward-looking statements". All statements in this release, 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 historical facts and are generally, but not always, identified
by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "wo uld", "may", "could" or "should" occur.
Forward-looking statements in this document include statements regarding current and future exploration
programs, activities and results. Although CMX believes the expectations expressed in such forward -
looking state ments 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 exploration success, continued availability of capital and financing, inability to
obtain required regulatory or governmental approvals and general economic, market or business conditions.
Investors are cautioned that any 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 Regul ation 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.