Original News Release
Canamera arranges $3-million private placement
Mr. Brad Brodeur reports
CANAMERA ENERGY METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Canamera Energy Metals Corp. intends to complete a non-brokered private placement for gross proceeds of up to $3-million, consisting of two parts:
Up to 1,785,714 flow-through units at a price of 56 cents per FT unit, with each FT unit consisting of one flow-through common share and one-half of one warrant, and with each whole FT warrant exercisable at 65 cents to acquire one (non-flow-through) common share for 36 months;
Up to 4,444,445 (non-flow-through) units at a price of 45 cents per unit, with each unit consisting of one (non-flow-through) common share and one-half of one warrant, with each whole warrant exercisable at 56 cents to acquire one (non-flow-through) share for 36 months.
The proceeds from the sale of the units are intended to be used to advance the Turvolandia and Sao Sepe rare earth properties in Brazil, for staking mining claims in the United States, and for general working capital and corporate purposes, including investor relations. The proceeds from the sale of the FT units are intended be used to incur Canadian exploration expenses, such that they qualify as flow-through mining expenditures for purposes of the Income Tax Act (Canada) and can be renounced to the purchasers thereof.
The private placement is subject to customary closing conditions, and the company may upsize the private placement by up to an additional $1-million having regard to prevailing market conditions. The securities issued under this offering will be subject to a statutory hold period of four months and one day. The company may compensate persons who act as finders for the offering of 6 per cent in cash plus 6 per cent in finders' fees in accordance with the rules of the Canadian Securities Exchange.
About Canamera Energy Metals Corp.
Canamera is a mineral exploration company focused on the acquisition and development of mineral resource projects, including the Mantle project in British Columbia, as well as high-quality REE (rare earth elements) and critical metal assets in the Americas. The company targets underexplored regions with district-scale potential, leveraging geochemical, geophysical and geological data to identify first-mover opportunities.
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