CCC Sets Private Placement Terms
Executive Summary
- The Canadian Chrome Company Inc. announced a proposed private placement of up to 12,500,000 Multiple Voting Shares at $2.00 per share (flow‑through) for gross proceeds of up to $25 million.
- A concurrent non‑flow‑through private placement of up to 6,000,000 units at $1.50 per unit is also proposed, potentially raising additional capital.
- Proceeds are earmarked for an extensive drilling program at the Black Horse Project in early 2026, targeting a large chromite discovery identified by prior geophysical work.
Key Details
- Flow‑through Private Placement
- Up to 12,500,000 Multiple Voting Shares (MVS) at $2.00 per share.
- Expected gross proceeds: $25 million.
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Includes a warrant structure: for every ten flow‑through shares subscribed, the investor receives 5 Flow‑through Share Purchase Warrants, each exercisable at $2.50 for one additional flow‑through share within one year.
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Non‑flow‑through Private Placement
- Up to 6,000,000 units at $1.50 per unit.
- Each unit consists of one MVS and one Multiple Voting Share Purchase Warrant.
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Warrants may be exercised at $1.75 for an additional MVS any time within two years.
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Finder’s Fees
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Intermediaries facilitating accredited‑investor subscriptions will receive a 5 % fee on both the flow‑through and non‑flow‑through offerings.
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Use of Proceeds
- Funds will finance a large drilling program at the Black Horse Project, commencing early 2026.
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Drilling aims to test deep‑penetrating magnetotelluric targets identified in 2022, believed to be the fault‑offset twin of the Black Thor discovery.
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Regulatory & Community Support
- Drilling will be conducted under Exploration Permit PR-23-000242, issued by the Ministry of Mining.
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The project has unanimous consent/support from all nine First Nations in the area (referencing prior release dated September 23, 2023).
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Tax Incentives
- Federal Budget 2025 adds chromium to the list of critical minerals eligible for a 30 % Mineral Exploration Tax Credit on qualifying expenses incurred before March 31, 2027.
- Individual investors may also qualify for an additional 5 % Ontario refundable tax credit.
Notable Quotes
No direct quotes were provided in the release.