C3 Metals Raises $11.5 Million through Bought Deal Private Placement
Toronto, Ontario – C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) (“C3 Metals” or the “Company”) is thrilled to announce a significant financing move. The Company has entered into an agreement with Paradigm Capital Inc., acting as co-lead underwriter, alongside Canaccord Genuity Group Inc., and on behalf of a syndicate of underwriters (collectively, the “Underwriters”), for a bought deal private placement. This financing round will see the Underwriters purchase 20,000,000 common shares of C3 Metals at a price of $0.50 per share, securing gross proceeds of $10,000,000 for the Company.
Key Terms of the Private Placement
The financing arrangement comes with an additional option granted to the Underwriters. They can exercise this option to purchase up to an additional 3,000,000 common shares at the Issue Price, potentially adding gross proceeds of an additional $1,500,000 to C3 Metals.
Impact on C3 Metals
This private placement is a significant milestone for C3 Metals as it will provide the Company with substantial financial resources to accelerate its strategic initiatives. The funds raised will primarily be used to advance the Company’s flagship project, the Rock Creek Tungsten and Molybdenum Project, located in British Columbia. This project is expected to become a leading source of tungsten and molybdenum in North America.
Impact on Investors
For existing investors, this financing event presents an opportunity to increase their holdings at the Issue Price. Additionally, the increased financial resources will allow C3 Metals to potentially unlock greater value for shareholders through the development of its projects.
Impact on the Industry
The mining industry, specifically the tungsten and molybdenum sector, will benefit from C3 Metals’ progress. With the proceeds from this private placement, the Company can accelerate its plans to bring the Rock Creek Project into production, contributing to the global supply of these essential minerals. This project’s development could help alleviate concerns of supply shortages and price volatility in the tungsten and molybdenum markets.
Conclusion
C3 Metals’ successful private placement with Paradigm Capital and Canaccord Genuity is a significant step forward for the Company. The proceeds from this financing event will enable C3 Metals to advance its flagship project, the Rock Creek Tungsten and Molybdenum Project, and contribute to the global supply of these essential minerals. This news is not only a win for C3 Metals but also for investors and the mining industry as a whole. With the potential for increased production and stability in the tungsten and molybdenum markets, the future looks bright for C3 Metals and its stakeholders.
- C3 Metals secures $11.5 million through private placement
- Proceeds to be used to advance the Rock Creek Tungsten and Molybdenum Project
- Impact on investors: Opportunity to increase holdings at Issue Price
- Impact on the industry: Potential for increased production and market stability
