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

Canadian Metals Inc.

December 28, 2017 16:39 ET

Canadian Metals Announces Closing of First Tranche of Brokered Offering

MONTRÉAL, QUÉBEC--(Marketwired - Dec. 28, 2017) - Canadian Metals Inc. (the "Company") (CSE:CME)(CSE:CME.CN)(CNSX:CME) is pleased to announce that, further to its news release dated December 7, 2017, it has closed a first tranche ("First Tranche") of its previously announced brokered private placement offering (the "Offering"). The First Tranche closing consisted of the issuance of 3,363,636 common shares (each a "Share") issued on a flow-though basis at a price of CDN$011 per Share for gross proceeds of $370,000.

Leede Jones Gable Inc., as the lead agent and sole bookrunner (the "Agent"), acted for and on behalf of the Company in connection with the Offering. Up to a further $1,000,000 aggregate principal amount of convertible unsecured subordinated debentures may be issued in subsequent tranches of the Offering representing up to a further $1,000,000 in gross proceeds.

The net proceeds of the First tranche will be used by the Company to fund exploration and development of the Company's mineral concessions in Quebec, and for general corporate and working capital purposes. Pursuant to the First Tranche, the Agents received a cash commission of $29,600 and 269,091 agent warrants, each of which is exercisable to acquire one Share at a price of $0.15 per Share December 28, 2019.

All securities issued in connection with the First Tranche are subject to a hold period expiring on April 29, 2018 in accordance with applicable Canadian securities laws. The Offering remains subject to final Canadian Securities Exchange approval.

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.

Contact Information