Financings
CYMAT ANNOUNCES COMPLETION OF $1.5 M PRIVATE PLACEMENT FINANCING
CYM · Price
Executive Summary
- Cymat Technologies completed a non‑brokered private placement of equity Units, raising gross proceeds of $1,499,500.
- Each Unit was priced at $0.13 and included one common share plus one warrant to purchase an additional share at $0.18 for 24 months.
- Proceeds will fund capital equipment for a strategic business development initiative (Rio Tinto Alcan opportunity) and support ongoing automotive initiatives.
Key Details
- Offering Size: Gross proceeds of $1,499,500 from the issuance of 11,534,615 Units (each Unit = 1 common share + 1 warrant).
- Pricing: Units priced at $0.13 per unit; warrants exercisable at $0.18 per share.
- Warrant Terms: 24‑month exercise period; subject to TSX Venture Exchange approval and a restriction on creating new insiders without required filings/approvals.
- Trading Hold: Securities issued are subject to a four‑month trading hold period from issuance date.
- Use of Proceeds: Allocation to capital equipment purchases supporting the Rio Tinto Alcan business opportunity and working capital for strategic automotive initiatives.
- No Finder’s Fees/Broker Warrants: The offering was conducted without any finder's fees, related compensation, or broker‑issued warrants.
- CEO Statement: Michael Liik (CEO & Chairman) highlighted that the financing “balances the capital required to execute on the previously announced Rio Tinto Alcan business opportunity” and will also fund automotive initiatives; a stakeholder webinar is planned for further updates.
Notable Quotes
“We are pleased to be able to raise the balance of the capital required to execute on the previously announced Rio Tinto Alcan business opportunity as well as funding for our strategic automotive initiatives underway.” – Michael Liik, CEO & Chairman, Cymat Technologies Ltd.