MONTREAL, QUEBEC--(Marketwired - Feb. 10, 2017) - Canada Strategic Metals Inc. ("Strategic Metals" orthe "Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) is pleased to announce that it has closed the third and last tranche of a non-brokered private placement, for an amount of $164,450. A total of $ 1,229,690 was raised through the three closings of this private placement.
The Company has issued 1,495,000 common shares at a price of $0.11 per share, for gross proceeds of $164,450.
The Company paid intermediary fees of $7,084, along with 64,400 compensation options entitling their holders to purchase 64,400 common shares of the Company at a price of $0.11 per share for an 24-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.
Momentum Public Relations Inc. ("MomentumPR"), is a public, investor and media relations agency serving publicly traded companies listed within the TMX group. Momentum is based in Montreal, Canada and was founded in 2008 by President and CEO, Maxence Gagné-Godbout. MomentumPR has been contracted by and will assist Canada Strategic Metals in increasing public awareness of the Company by managing the Company's corporate communications and marketing activities, and facilitating dialogue with the Company's shareholders, finance professionals, analysts and media contacts. MomentumPR owns directly 600,000 options, indirectly 650,000 common shares and 50,000 warrants of the Company.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects 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.