CMC Metals Ltd. Oversubscribes Private Placement

VANCOUVER, BC / ACCESSWIRE / June 14, 2024 / CMC Metals Ltd. (TSXV:CMB)(FRA:ZM5P)(OTCQB:CMCXF) has oversubscribed its previously announced private placement by raising $162,400, pending TSX Venture Exchange approval. The company will issue 1,000,000 flow-through (FT) units at $0.04 and 3,497,143 non-flow-through (NFT) units at $0.035 each.

Each FT unit includes one flow-through common share and one-half of a common share purchase warrant, exercisable at $0.07 for 24 months. Each NFT unit includes one common share and one common share purchase warrant with the same terms.

Following approval, a cash finder's fee of $157.50 and 4,500 broker warrants will be issued. One insider subscribed for 1,000,000 FT units, qualifying as a related party transaction under MI 61-101.

Proceeds will fund Canadian exploration expenses and projects in Yukon, British Columbia, Newfoundland, and Labrador. Securities issued will be subject to a four-month hold.