Vancouver, BC.: CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) wishes to announce that it has agreed to conduct a non-brokered private placement to raise $500,000 and issue 4,000,000 Units at $0.125 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 two year period following the closing of the placement, at $0.20 per share. The proceeds of this placement will be used primarily to fund exploration activities, ongoing technical studies and corporate activities.
There may be a finder’s fees payable pursuant to this placement and it is subject to TSX Venture Exchange approval.
About CMC Metals.
CMC Metals Ltd. is a growth stage mineral exploration company focused on opportunities in Yukon, British Columbia and Newfoundland. Our silver-lead-zinc projects include Silver Hart (Yukon), Blue Heaven (Yukon) and Rancheria South (British Columbia), all of which are located within the Rancheria Silver District. Our polymetallic projects with gold potential include Logjam (Yukon), Bridal Veil (Newfoundland) and Terra Nova (Newfoundland). The Newfoundland projects are located within the Gander Zone and are in close proximity to Newfound Gold’s Queensway Project.
Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has approved the technical information reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
On behalf of the Board:
John Bossio, Chairman
CMC METALS LTD.
For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:
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.”