CMX Announces Financing
CMX Announces Financing
Toronto, ON. May 18, 2018 Chilean Metals Inc. (“Chilean Me tals,” “CMX” or the “Company”)
(TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA: CMX) has announced plans to raise additional
capital to finance exploration on its Bass River project s and additional projects in Nova Scotia and for
general working capital requirements. Chilean will offer both traditional (hard dollar) and Flow-through
equity (for the exploration only).
The traditional (hard dollar) equity will be offered vi a the sale of up to 12,500,000 units @ $0.12 per unit
for maximum gross proceeds of $1,500,000. Each Unit will consist of one common share and one
common share purchase warrant. The warrant plus paym ent of $0.18 per common share will result in the
holder receiving one common share of the Company for a period of five years from the date of issuance.
The Flow Through equity will be offered via the sale of up to 4,000,000 units @ $0.16 per unit for
maximum gross proceeds of $640,000. Each Unit w ill consist of one flow-through common share and
one common share purchase warrant. The warrant plus payment of $0.18 per common share will result in
the holder receiving one common share of the Company for a period of five years from the date of
issuance.
“As previously discussed when we announced the stock c onsolidation this equity is needed to enable the
company to take advantage of our NS Exploration pr ojects. To ensure existing shareholders have an
opportunity to participate in the next round we will be using the Existing Shareholder Exemption as
further defined below. This will ensure shareholders of record as of May 17 th will be eligible to
participate in the round. Manageme nt, board and our largest sharehol ders have committed to investing
$500,000 in this new round. We would ask any shar eholders who are interested to contact me at the
email address on this press release” commented Chilean CEO Terry Lynch
The private placement 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 May 17, 2018 as the record date for the purpose of determining existing
shareholders entitled to purchase Units pursuant to the Existing Shareholder Exemption. Subscribers
purchasing Units under the Existing Shareholder Exempti on will need to represent in writing that they
meet certain requirements of the Existing Shareholde r Exemption, including that they were, 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 s ubscriber under the Existing Shareholder Exemption
cannot exceed $15,000 unless that subscriber has obtain ed advice obtained from a registered investment
dealer regarding the suitability of the investment . The Company will accept qualifying subscriptions of
$5,000 or more.
In addition the Company wishes to announce it has reach ed a deal to pay a supplier for previous drilling
work completed in Chile on the Company’s be half. The Company will pay the drilling company
CDN$220,000 in cash and issue 750,000 shares to repay a payable of approximately CDN$370,000. The
Company will also pay the drilling company’s estimat ed VAT obligation on certain unbilled work and
certain related fees, anticipated to be no more than $13,000. This arrange ment and the financing
discussed above remain subject to TSXV approval.
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]
The Qualified Person for Chilean Metals Inc., as defined by National Instrument 43-101, is Mick Sharry, M.Sc.
Consultant
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 governmen tal approvals and genera l 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.