Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB) is pleased to announce that it has closed its $420,000 / 8,400,000 Unit private placement as announced pursuant to its July 3, 2019, August 1, 2019 and August 22, 2019 press releases, having received TSX Venture Exchange approval. The financing closed with the issuance on September 5, 2019 of 8,400,000 units priced at $0.05 per Unit with each Unit comprising of one common share and one transferable share purchase warrant. Each transferrable warrant will be exercisable into one additional common share at $0.075 per share for a two year period expiring September 5, 2019. The proceeds of this placement will be used for general working capital. A finder’s fee of $12,500 will be paid pursuant to this placement.
In addition, the Company is pleased to announce that it has closed its $456,430 / 7,022,000 Flow-Through private placement as announced pursuant to its July 3, 2019 and August 15, 2019 press releases, having received TSX Venture Exchange approval, and will issue 7,022,000 Flow-Through common shares at $0.065 per Flow-Through common shares. The proceeds derived from this placement are to be used to pay for the Company’s exploration program at the Silver Hart Property, Yukon. A finder’s fee of $6,032 will be paid pursuant to this placement.
About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in the United States and Canada that offers potential for near-term cash flow. The Company is led by a seasoned team with experience developing assets to production. The Company’s Silver Hart Property is a Silver-Lead-Zinc asset located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 Contiguous and partial claims.
On behalf of the Board:
“Michael C. Scholz”
Michael Scholz, Director
CMC METALS LTD.
For more information and to be added to CMC’s news distribution list, please send an email to email@example.com or call Mr. Michael Scholz at 604-605-0166.
Neither the TSX Venture Exchange nor its Regulation 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.
“This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”