MONTREAL, QUEBEC--(Marketwired - May 5, 2014) - Canada Strategic Metals Inc. ("Canada Strategic Metals" or "the Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) announces that it has closed on a portion of a non-brokered private placement, for an amount of $574,500.
The Company has issued 5,745,000 units of common shares at a price of $0.10 per unit, for gross proceeds of $574,500. Each unit consists of one common share priced at $0.10 and half a warrant to purchase a common share of the Company. Each warrant entitles its holder to purchase one common share of the Company at $0.15 for a 24-month period after 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.
Company insider subscribe for 500,000 units.
The Company is pursuing its efforts to complete this private placement for up to $1,000,000.
Proceeds of the private placement will be used for property development and/or working capital purposes.
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.