CMC Announces Private Placement to Raise C$250,000

VANCOUVER, BC / ACCESSWIRE / November 3, 2023 / CMC Metals Ltd. (TSXV:CMB)(FRA:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce the terms to its proposed non-brokered private placement. The proposed terms are to sell flow-through units of the Company (each, a "FT Unit") at a price of C$0.07 per FT Unit for gross proceeds of up to C$250,000 (collectively, the "Offering").

Each non-flow-through unit will consist of one common share of the Company and one transferrable non-flow-through share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one non-flow-through common share of the Company (each, a "Warrant Share") at a price of C$0.10 per Warrant Share for a period of 24 months from the closing date of the Offering.

Proceeds from the sale of FT Shares to eligible investors in Canada will be used to incur "Canadian exploration expenses" and "flow through mining expenditures" as these terms are defined in the Income Tax Act (Canada). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2024, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

The net proceeds from the sale of FT Units will be used to fund the Company's exploration program at its Silverknife, Amy, Silver Hart Projects in the Rancheria Silver District, (Yukon/British Columbia), and the Bridal Veil Project in Newfoundland.

The Company will pay a 6% finders' fees comprised of cash and non-transferable warrants (the "Finder's Warrants") in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. The terms of the Finder's Warrants will be the same as the Warrants distributed in the FT Units. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Closing is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") and Amy and Silverknife claims in north-central British Columbia. Our polymetallic projects with potential for copper-silver-gold and other metals, include Terra Nova and Rodney Pond (central Newfoundland) and Terra Nova which has been option to Highbank Mining.