/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Oct. 19, 2021 /CNW/ - C3 Metals
Inc. (TSXV: CCCM) ("C3 Metals" or the "Company") is
pleased to announce that it has entered into an agreement with a
syndicate of underwriters led by Canaccord Genuity Corp., pursuant
to which the underwriters have agreed to purchase
78,947,400 common shares (the "Shares") on a bought
deal private placement basis (the "Offering").
The Shares will be sold at a price of C$0.19 per Share (the "Offering Price")
for aggregate gross proceeds of C$15,000,006.
The Company has also granted the underwriters an option to cover
over-allotments (the "Underwriters' Option"), which will
allow the underwriters to purchase up to an additional 15,789,500
Shares at the Offering Price for additional gross proceeds of
up to C$3,000,005. The Underwriters'
Option may be exercised in whole or in part at any time prior to
the closing date of the Offering.
The Offering is expected to close on or about November 9, 2021, or such other date as agreed
between the Company and the underwriters, and is subject to certain
conditions including, but not limited to, the receipt of all
necessary regulatory and other approvals including the approval of
the TSX Venture Exchange ("TSXV").
The Company has agreed to pay a cash commission of 6.0% of the
gross proceeds of the Offering and will issue to the underwriters
compensation warrants (the "Compensation Warrants") equal to
6.0% of the number of Shares sold under the Offering, other than in
respect of a maximum of C$750,000
in aggregate proceeds of Shares issued to certain purchasers
under a president's list, in which case only a cash fee of
3.0% will be payable. The Compensation Warrants will be
exercisable into common shares of the Company at a price per
Compensation Warrant equal to the Offering Price for a period of 24
months from the closing of the Offering. Gross proceeds of the
Offering will be used to expand the drill program at the Company's
100% owned Jasperoide high-grade copper-gold skarn property in
Peru and to undertake a maiden
drill program at the Company's Bellas Gate property in Jamaica and for general working capital and
corporate purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or
sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
About C3 Metals Inc.
C3 Metals Inc. is a Canadian-based exploration company focused
on the discovery and development of large copper-gold deposits with
properties in Peru, Jamaica and Canada.
The Company's flagship project is the Jasperoide high-grade
copper-gold skarn and porphyry system located in the prolific
Andahuaylas-Yauri Mineral Belt of southern Peru.
Mineralization at Jasperoide is hosted in a similar geological
setting to nearby major mining operations at Las Bambas (MMG),
Constancia (Hudbay) and Antapaccay (Glencore). Drilling
commenced in February 2021, returning
high-grade copper-gold mineralization over significant
thicknesses. The ongoing program has been expanded to test
multiple geophysical targets.
In Jamaica, the Company's 100%
interest licenses cover 207 km2 of highly prospective
copper-gold terrain where multiple porphyries have been
delineated. The Company is advancing fieldwork on new areas
of interest. In Canada, C3
Metals holds a 100% interest in the 91 km2 Mackenzie
porphyry copper-gold project within the Cascade Magmatic Arc in
southwestern British Columbia.
Related Link: www.c3metals.com
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.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on Talisker's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward-looking information relating to, among
other things, the use of proceeds from the Offering, the listing of
the Shares of C3 Metals on the TSX Venture Exchange and exercise of
the Underwriters Option. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to C3 Metals. Although such statements are based on
reasonable assumptions of C3 Metal's management, there can be no
assurance that any conclusions or forecasts will prove to be
accurate.
The forward-looking information contained in this release is
made as of the date hereof, and C3 Metals is not obligated to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by applicable securities laws. Because of the risks,
uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein.
SOURCE C3 Metals Inc.
