C2C Metals Corp. Announces Completion of Private Placement
Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.25 for a period of 24 months following the issue date of the Unit.
The proceeds of the Offering will be used to fund exploration on the Company's uranium projects in Utah as well as for general working capital purposes. Finder's fees will be payable in accordance with the policies of the CSE. The securities issued under the Offering will be subject to a hold period ending on August 20, 2024. Red Cloud Securities Inc. acted as a non-exclusive finder in connection with the Offering.
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.
One director of the Company participated in the Offering, which constitutes a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements under section 5.5(a) and section 5.7(1)(a) of MI 61-101, as the fair market value of the securities issued to the related party did not exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering because the details of participation had not been confirmed at that time.
C2C Metals is a mineral exploration company which holds a portfolio of uranium, gold and copper projects in the United States and Canada.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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@C2CMetalsCorp
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SOURCE C2C Metals Corp.
Contact
Chris Huggins, Chief Executive Officer, (604) 968-4844, chuggins@c2cmetals.com