Canadian Metals Inc.
CSE : CME
CSE : CME.CN
CNSX : CME

Canadian Metals Inc.

December 29, 2017 14:53 ET

Canadian Metals announces Closing of Flow-Through and Units Non-Brokered Private Placements

MONTREAL, QUEBEC--(Marketwired - Dec. 29, 2017) - Canadian Metals Inc. (the "Company") (CSE:CME)(CSE:CME.CN)(CNSX:CME) is pleased to announce the closing of a non-brokered private placement (the "FT Offering") at which it issued an aggregate of 2,850,180 flow-through common shares of the Company (the "Flow-Through Shares") at a price of $0.11 per Flow-Through Share, for gross proceeds of $313,520.

Focus is also pleased to announce the closing of a second tranche of its previously announced non-brokered private placement of units (the "Unit Offering") for total gross proceeds of $26,250. The Unit Offering consists of 350,000 units (the "Units") at a price of $0.075 per Unit. Each Unit is comprised of one common share and one common share purchase warrant exercisable at a price of $0.15 per share for a period of 24 months ending December 29, 2019.

In connection with the closing of the Unit Offering, the Company paid cash finder's fees totaling $21,930 and issued 207,165 finder warrants exercisable at a price of $0.15 per share for a period of 24 months ending December 29, 2019. The securities issued in connection with the closing of the Ft offering and the Unit Offering are subject to a four-month hold period expiring on April 30, 2018.

The FT Offering and Unit Offering remain subject to the final approval of the Canadian Securities Exchange.

About Canadian Metals

Canadian Metals is focused on the development of its Langis project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.

Cautionary Statements Regarding Forward Looking Information

Certain statements included herein may constitute "forward-looking statements". All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "may", "must", "plan", "believe", "expect", "estimate", "think", "continue", "should", "will", "could", "intend", "anticipate" or "future" or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation's continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly 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 law.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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