Supreme Critical arranges $2-million in financings

Executive Summary

• Supreme Critical Metals Inc. announced two non-brokered private placement financings with aggregate gross proceeds of up to $2,000,000.
• The offering consists of two tranches: non-flow-through units priced at 15 cents and flow-through units priced at 21.5 cents, each comprising common shares and warrants.
• Proceeds are designated for exploration on company properties and general corporate purposes, with a closing date expected on or about December 8.

Key Details

• Non-Flow-Through Units:
  • Quantity: Up to 6,666,666 units.
  • Price: 15 cents per unit.
  • Gross Proceeds: Up to $1,000,000.
  • Composition: One common share and one common share purchase warrant per unit.
  • Warrant Terms: Entitles holder to purchase one additional common share at an exercise price of 2.1 cents.
  • Warrant Expiry: Two years from closing, subject to acceleration if the 20-day VWAP exceeds 60 cents for 10 consecutive days.
• Flow-Through Units:
  • Quantity: Up to 4,651,162 units.
  • Price: 21.5 cents per unit.
  • Gross Proceeds: Up to $1,000,000.
  • Composition: One common share and one-half of one common share purchase warrant per unit (each whole warrant entitles holder to one additional share).
  • Warrant Terms: Exercise price of 30 cents per common share.
  • Warrant Expiry: 24 months, subject to the same early expiration rights as the non-flow-through warrants.
  • Tax Status: Qualifies as a flow-through share under Subsection 66(15) of the Income Tax Act.
• Use of Proceeds: Exploration on the company's properties and general corporate purposes.
• Closing Conditions: Subject to necessary approvals, including the Canadian Securities Exchange.
• Expected Closing Date: On or about December 8.

Notable Quotes

• None provided in the text.