Canadian Metals Announces Private Placement of up to $2.4 Million

Executive Summary

• Canadian Metals Inc. announced a non‑brokered private placement of up to 9,230,769 units at $0.13 per unit and 8,571,428 flow‑through units at $0.14 per FT unit, targeting gross proceeds of up to $2.4 million.
• Proceeds will be used to fund exploration on the company’s five Bathurst Mining Camp properties, with FT unit proceeds earmarked for eligible Canadian exploration expenses that qualify as flow‑through critical mineral mining expenditures.
• Each unit includes one common share and half of a warrant (full warrant purchasable at $0.20 per share for 30 months); FT units have the same structure but are issued as flow‑through shares.

Key Details

• Offering Size: Up to $2,400,000 gross proceeds.
• Units: Up to 9,230,769 units at $0.13 per unit.
• Flow‑Through Units: Up to 8,571,428 FT units at $0.14 per FT unit.
• Unit Composition: 1 common share + ½ of a common‑share purchase warrant (full warrant = right to buy one common share at $0.20 for 30 months).
• FT Unit Composition: 1 flow‑through common share + ½ of a warrant with identical terms.
• Warrant Exercise Price: $0.20 per common share; exercisable for 30 months after closing of each tranche.
• Statutory Hold Period: All shares and warrants subject to a four‑month‑plus‑one‑day hold period from the closing of each tranche.
• Use of Proceeds:
• FT unit proceeds → eligible Canadian exploration expenses qualifying as “flow‑through critical mineral mining expenditures” under the Income Tax Act.
• Remaining proceeds → general exploration expenses on five properties in the Bathurst Mining Camp, New Brunswick.
• Closing Conditions: Subject to customary conditions, including regulatory approvals and CSE acceptance; may involve finder’s fees compliant with CSE policies.
• Regulatory Notices: Securities not registered under U.S. securities laws; offering not available to U.S. persons unless an exemption applies.

Notable Quotes

• “This financing is intended to advance the Company's exploration programs on its five properties in the Bathurst Mining Camp,” – Julien Davy, Chief Executive Officer.