CMC Metals Ltd. Announces Closing of its $480,000 / $0.08 Unit Flow-Through Private Placement
Vancouver, July 27, 2020 - CMC Metals Ltd. - ("the Company") (TSXV:CMB) (OTC:CMCXF) is pleased to announce that it has closed its $480,000 / 6,000,000 Unit flow-through private placement as announced pursuant to its July 7, 2020 press release having received TSX Venture Exchange approval. The financing closed with the issuance of 6,000,000 units priced at $0.08 per Unit with each Unit comprising of one flow-through common share and one transferable share purchase warrant. Every two transferrable warrants are exercisable into one additional common share at $0.10 per share for a one-year period expiring July 27, 2021. The proceeds derived from this placement are to be used to pay for the Company's exploration program at the Silver Hart and Blue Heaven Property, Yukon. There was no finder's fee payable pursuant to this placement. About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in Canada and the United States that offer potential for production. The Company is led by a seasoned team with experience developing assets to commercialization. The Company's Silver Hart Property is a high grade silver-lead-zinc project located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 contiguous and partial claims. The Company recently acquired the Blue Heaven claims adjacent to Silver Hart which comprises of similar mineralization and geology and covers 1,975 hectares and 118 contiguous and partial claims. Together these combined properties offer excellent exploration potential for high-grade silver-lead-zinc veins and carbonate replacement deposits.
CMC is a precious metals exploration and development company working in Yukon and is actively seeking other projects to acquire in its portfolio.
On behalf of the Board:
"John Bossio"_______
John Bossio
Chairman,
For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:
Investor Inquiries: Kevin Brewer, P. Geo.
President, CEO and Director
Tel: (604) 605-0166 / Email: kbrewer80@hotmail.com
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer at 604-605-0166.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
