C3 Metals closes $28-million private placement

Executive Summary

• C3 Metals Inc. has closed a bought deal private placement of 25,455,000 common shares at $1.10 per share, raising gross proceeds of $28,000,500, including the exercise of the overallotment option.
• The offering was led by Paradigm Capital Inc. with ATB Cormark Capital Markets, Canaccord Genuity Corp., and BMO Nesbitt Burns Inc. as co-underwriters.
• Net proceeds will be used for exploration and development at the Khaleesi and Super Block projects, as well as for general working capital.

Key Details

• Gross Proceeds: $28,000,500
• Shares Issued: 25,455,000 common shares
• Price Per Share: $1.10
• Underwriters: Paradigm Capital Inc. (Lead), ATB Cormark Capital Markets, Canaccord Genuity Corp., and BMO Nesbitt Burns Inc.
• Underwriter Fees: $1,680,030 (6% of gross proceeds)
• Use of Proceeds:
  • Exploration and development at the 100%-owned Khaleesi copper-gold project.
  • Exploration and development at the 50%-owned Super Block project.
  • General working capital purposes.
• Statutory Hold Period: Ends June 12, 2026.
• Regulatory Status: Subject to final acceptance of the TSX Venture Exchange.
• Related Party Transaction: An insider acquired 3,864,000 shares. The company relied on exemptions from valuation and minority shareholder approval requirements under MI 61-101. No material change report was filed 21 days prior to closing.

Notable Quotes

• None provided in the text.