Chilean Metals Inc. Closes Financing
Chilean Metals Inc. Closes Financing
Toronto, ON. June 15th 2017 . Chilean Metals Inc. (“Chilean Metals,” “CMX” or the
“Company”) (TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA: CMX).
Chilean Metals announces today that it ha s raised $1,000,000 under the previously announced
$1.5 million-unit financing through the issuance of 6,666,667 units. Each unit cost $0.15 and is
comprised of one share and one half of one share purchase warrant. One purchase warrant and
$0.20 will enable holder to acquire another shar e of common stock at anytime until June 1, 2019
subject to the Company’s ability to accelerate the warrants should its stock trade above $0.30 for a
prescribed period of time. All s ecurities issued under the private placement are subject to a four-
month hold period in accordance with applicable securities laws. The issue is non-brokered
however participating brokers will be paid a fee of 8% and have an ability to acquire an additional
8% of units sold for a period of one year from date of issuance. In this tr anche brokerage fees of
$12,000 and 80,000 broker warrants were issued.
Patrick Cruickshank Chilean CEO commented “Completion of this placement will enable us to
continue exploration on our Zulema project. The first phase of drilling is near completion and we
have identified IOCG style mineralization in drill holes. After consu lting with our Technical
Advisor, Minotaur Exploration Ltd. (Australia), we believe the program will benefit from
additional geophysical work including close spaced gravity, deep penetrating Induced Polarization
and possibly magnetic surveying. After this wo rk, we are planning an additional 2000-3000 metre
drill program this fall.”
Chilean Metals has received regulatory approval to complete this private placement.
About Chilean Metals
www.chileanmetals.com/
Chilean Metals Inc. is a Canadian Junior Ex ploration Company focusing on high potential Copper
Gold prospects in Chile & Canada.
Chilean Metals Inc is 100% ow ner of five properties comprisi ng 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 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 any 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 Copper Gold exploration properties in Nova Scotia
on the western flank of the Cobequid-Chedabucto Fault Zone (CCFZ); Fox River, Parrsboro, Lynn
and Bass River respectively. Initial targeting and geophysics 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 targets recommended for ground based
geophysics prior to drilling.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Chilean Metals Inc.
“Patrick Cruickshank”
Patrick Cruickshank, CEO
Contact: [email protected]
The Qualified Person for Chilean Metals Inc., as defined by National Inst rument 43-101, is Gary
Lohman, P. Geo., Vice President, Exploration.
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 develo pments that CMX expects to occur, are forward
looking statements. Forward-looking statements are st atements that are not hi storical facts and are
generally, but not always, identified by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and simila r expressions, or that events or conditions
"will", "would", "may", "could" or "should" occu r. 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 statements are based
on reasonable assumptions, such statements are not guarantees of future performance and actual
results may differ materially from those in forw ard-looking statements. Factors that could cause
the actual results to differ materially from thos e in forward-looking statements include market
prices, exploitation and explora tion success, continued availabil ity of capital and financing,
inability to obtain required regulatory or governmental approvals and general economic, market or
business conditions. Investors are cau tioned that any such statements are not guarantees of future
performance and actual results or developments ma y differ materially from those projected in the
forward looking statements.
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.