Canada Strategic Metals Inc.
TSX VENTURE : CJC
FRANKFURT : YXEN
OTCBB : CJCFF

Canada Strategic Metals Inc.

December 22, 2014 15:08 ET

Canada Strategic Metals Announces First Closing of $186,500

MONTREAL, QUEBEC--(Marketwired - Dec. 22, 2014) - Canada Strategic Metals Inc. ("Strategic Metals" or the "Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) is pleased to announce that it has closed the first tranche of a non-brokered private placement, for an amount of $186,500.

The Company has issued 186.5 units of common shares at a price of $1,000 per share for gross proceeds of $186,500. Each Unit includes 10,000 flow-through common shares at a price of $0.08 per flow-through share, 2,500 common shares at a price of $0.08 per share and 6,250 common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 18 months at a price of $0.15 per share.

The Company paid intermediary fees of $14,920, along with 186,500 compensation options entitling their holders to purchase 186,500 common shares of the Company at a price of $0.15 per share for an 18-month period following the closing of the private placement.

All the securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.

The proceeds of this private placement will be used for working capital and for property development.

The private placement is subject to regulatory approval.

About Canada Strategic Metals

Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects covering over 20,000 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.

For more information on the Company, please visit www.csmetals.ca.

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.

Contact Information

  • Jean-Sebastien Lavallee, P. Geo
    Chief Executive Officer
    819-354-5146

    Christophe Romary
    President
    514-913-7483

    Paradox Public Relations
    514-341-0408