Canadian Metals Closes Final Tranche of $2.5M Non-Brokered Private Placement
Canadian Metals Inc. CSE: CME
Canadian Metals Closes Final Tranche of $2.5M Non-Brokered Private Placement
January 12, 2023, Montréal, Québec. - Canadian Metals Inc. (“CME” or the “Corporation”) (CSE: CME)
is pleased to announce that it has completed the second and final tranche (the “ Second Tranche”) of its
previously announced non-brokered private placement of up to $2,500,000.00 (the “Private Placement”).
The Second Tranche consisted in the issuance of 5,528,556 NFT Units (as defined below).
Private Placement
The Private Placement comprises (i) flow-through units in the capital of the Corporation at a price
of $0.0316 (each, a “FT Unit”), and (ii) units of the Corporation also at a price of $0.0316 (each, a “NFT
Unit”). Under the Private Placement, the Corporation issued 51,305,665 FT Units and 27,808,252 NFT
Units for aggregate gross proceeds of $2,500,000.00.
Each FT Unit is comprised of one common share in the capital of the Corporation issued on a flow-through
basis and one common share purchase warrant (each, a “Warrant”). Each NFT Unit is comprised of one
non-flow-through common share and one Warrant. Each Warrant entitles the holder thereof to purchase
one common non-flow through common share of the Corporation at a price of $0.048 for a period of 24
months from its issuance.
In connection with the Second Tranche, the Corporation paid cash finder's fees of $7,896.00 to eligible
finders. No insiders of the Corporation participated in the Second Tranche.
All securities issued in connection with the Private Placement are subject to a statutory hold period of 4
months and a day from the closing of each tranche of the Private Placement in accordance with applicable
securities laws. The Corporation will use the proceeds of the Private Placement for general exploration and
working capital, and the proceeds raised from the sale of the FT Units will be used for eligible flow-through
expenditures. The Private Placement is s ubject to the final approval of the Canadian Securities Exchange
(the “CSE”).
This press 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 or for the account or benefit of a U.S. person (as defined
in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption from such registration requirements.
About Canadian Metals Inc.
Canadian Metals is a diversified res ource company focused on creating shareholder value through the
development of large-scale mineral deposits in specific commodities and safe jurisdictions.
For more information, please contact:
Michel Gagnon
On behalf of the Board of Directors
Website: www.canadianmetalsinc.com
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy
of this release.
The statements in this news release that are not historical facts are “forward -looking statements”. Readers are
cautioned that any such statements are not guarantees of future performance, and that actual developments or results
may vary materially from those described in such “forward-looking” statements.