CMC Announces New $175,000 / $0.035 Unit Private Placement and Provides an Update on our COVID-19 Response
Vancouver, BC.: CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) wishes to announce that it has agreed to conduct a private placement to raise $175,000 and issue 5,000,000 Units at $0.035 per unit, each unit consisting of one common share and one transferable share purchase warrant. Every two transferrable warrants will be exercisable into one additional common share for a one year period at $0.05 per share. The proceeds of this placement will be used for general working capital, exploration, environmental and engineering work for the Silver Hart and Logjam projects in Yukon, Canada.
No fees will be payable on this placement and it is subject to TSX Venture Exchange approval.
The Company further advises that it has implemented plans to minimize the risks of the COVID-19 virus, both to our staff, contractors and to the business. Our office has implemented a work at home initiative and is minimizing contact with external groups. For our future exploration field programs we will follow all government health protocols and we are closely monitoring the situation with health authorities in British Columbia, Yukon, and California. When our field activities resume in Yukon this summer, we will be hosting employee orientation sessions to educate about the COVID-19 symptoms, best practices to avoid catching the virus, and procedures to follow if symptoms are experienced.
Mr. Kevin Brewer, President and CEO, commented, “During these turbulent times, we are fully committed to reducing the health risk to our staff and contractors and any potential disruptions to our operational plans. We will continue to work proactively to protect the health of our workers, local stakeholders, and our communities as we navigate the current situation. We will be providing an update on our proposed plans as we get closer to the season start in June.”
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.
CMC is a precious metals exploration and development company working in Yukon and is actively seeking other projects to acquire in its portfolio.
On behalf of the Board:
“Michael C. Scholz”
Michael C. Scholz, Director
CMC METALS LTD.
For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:
President, CEO and Director
Tel: (604) 605-0166
To be added to CMC’s news distribution list, please send an email to email@example.com or contact 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 may contain 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.”