Canadian Chrome arranges $15-million private placement

Executive Summary

• The Canadian Chrome Company Inc. has announced a proposed private placement of up to 10,714,285 units at $1.40 per unit, targeting aggregate gross proceeds of up to $15 million.
• Each unit consists of one multiple voting share and one multiple voting share purchase warrant, with the warrant allowing the purchase of an additional share at $1.50 per share.
• Proceeds are designated for business operations, including the acquisition, exploration, and development of chromite and base metal deposits, as well as covering overhead and offering costs.

Key Details

• Offering Size: Up to 10,714,285 units.
• Price: $1.40 per unit.
• Gross Proceeds: Up to $15,000,000.
• Unit Composition: Each unit comprises one multiple voting share and one multiple voting share purchase warrant.
• Warrant Terms:
  • Each warrant allows the holder to purchase one additional multiple voting share.
  • Exercise Price: $1.50 per share.
  • Expiration: The earlier of (i) five years from the date of the first closing, or (ii) two business days after a change of control.
• Investor Qualification: Restricted to accredited investors or those qualifying for a prospectus-exempt purchase under applicable securities laws.
• Use of Proceeds: Financing business operations focused on the acquisition, exploration, evaluation, and development of large-scale chromite and other base metal/mineral deposits; financing overhead, operating expenses, and costs associated with the private placement.
• Finder’s Fees: Up to 5% of the aggregate amount subscribed, payable in units at a deemed price of $1.40 per unit.
• Hold Period: All securities issued are subject to a four-month hold period.

Notable Quotes

• None provided in the text.