CMC Metals Ltd. Announces Terms of Private Placement Units to Raise C$500,000

VANCOUVER, BC / ACCESSWIRE / April 29, 2024 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(CMCXF:OTCQB) ("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$0.04 per FT Unit and for gross proceeds of $400,000 and non-flow-through units of the Company (each, a "Unit") at a price of C$0.035 per Unit for gross proceeds of $100,000. The aggregate gross proceeds will be C$500,000 and may be increased up to C$750,000 (collectively, the "Offering"). Red Cloud Securities Inc. and other agents will be acting as finder on behalf of the Company in relation to the Offering. A new corporate presentation has been placed in the company website at www.cmcmetals.ca and interested participants are encouraged to contact the Company President and CEO - Kevin Brewer for further information.

Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one-half of one transferrable non-flow-through share purchase warrant (each full warrant, a "Warrant"). Each Unit will consist of one common share of the Company (each, a "Unit Share") and one 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$0.07 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 and Silver Hart Properties in the Rancheria Silver District, (Yukon/British Columbia), potentially limited activities at Logjam (Yukon) and Bridal Veil (Newfoundland and Labrador) and the net proceeds from the sale of NFT Units will be used for general working capital.