Each Unit consists of one common share of the Company (a “Common share“) and one ordinary warrant for the purchase of shares of the Company (a “Deposit“), whereby each Warrant is exercisable in one common share at a price of $0.05 for a period of five (5) years.
The company expects to close a second tranche of the offering next week. The Offering remains subject to the final approval of the TSX Venture Exchange.
In accordance with National Instrument 45-106 – Prospectus exemptions (“IS45-106“), the Units were issued to Canadian purchasers pursuant to the financing exemption for listed issuers under Part 5A of NI 45-106, as amended by Co-ordinated General Order 45-935 – Exemptions from certain conditions of the financing exemption of listed issuers (the “Exemption for financing of listed issuers“). The common shares and warrants issued to purchasers resident in Canada are immediately freely tradable in accordance with applicable Canadian securities laws.
There is an offering document relating to the offering and the Company’s use of the publicly traded issuer financing exemption, which can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.canadiancriticalmineralsinc.com.
In connection with the Offering, the Company paid finder’s fees of $2,401 and 68,600 finder’s warrants, each finder’s warrant entitling the holder thereof to purchase one common share at a price of $0.05 for a period of two years. The finder warrants and the underlying common shares are subject to a holding period of four months and one day from the closing date of the Offering, in accordance with applicable Canadian securities laws.
The Company intends to use the proceeds from the Offering to complete its application for the restart of the Bull River Mine project near Cranbrook, BC. and for working capital.
This press release does not constitute an offer to sell or the solicitation of an offer to buy 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 “US securities law“) or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
About CCMI
CCMI is a mining company primarily focused on copper production assets in Canada. CCMI’s principal asset is the 100% owned Bull River Mine project (150 million pounds of copper) near Cranbrook, British Columbia, which has a mineral resource containing copper, gold and silver. CCMI also owns a 5.3% interest in XXIX Metal Corp., which has a 100% interest in the Thierry copper project near Pickle Lake, Ontario and a 100% interest in the Opemiska copper project near Chapais-Chibougamau, Quebec.
Cautionary Note Regarding Forward-Looking Information
This press release contains certain “forward-looking information” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company’s plans regarding the Company’s projects and the timing related thereto, the merits of the Company’s projects, the Company’s objectives, plans and strategies, the use of proceeds from the Offering and other matters. Although the Company believes such statements to be reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘plans’, ‘estimates’, ‘projects’, ‘objectives’, ‘potential’, ‘target’, ‘objective’, ‘strategy’, ‘prospective’ and similar expressions, or that events or conditions ‘will’, ‘could’, ‘may’, ‘could’, ‘would’ or ‘should’ occur, or are statements that, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and involve a number of risks and uncertainties. Accordingly, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by applicable securities laws and the policies of the TSX Venture Exchange, the Company assumes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration, the risk that the Company may encounter unanticipated geological factors, or the possibility that the Company may be unable to obtain permits and other agency or government approvals necessary to implement the Company’s exploration plans, risks from political uncertainties and changes in regulations or legislation in the jurisdictions where the company conducts business that could disrupt the company’s operations and prospects. The reader is urged to consult the company’s reports, which are publicly available on the Canadian Securities Administrators’ System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
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.
Not for distribution to news services in the United States or for dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277977
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