CMC Metals Ltd. Closes C$3,151,780 Non-Brokered Private Placement

VANCOUVER, BC / ACCESSWIRE / April 21, 2022 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(CMCXF:OTC PINK) ("CMC" or the "Company") is pleased to announce that the Company has closed a non-brokered private placement (the "Offering") for gross proceeds of C$3,151,780.18 from the sale of 13,761,998 non-flow-through units of the Company (each, a "NFT Unit") and the sale of 6,396,944 flow-through units of the Company (each, a "FT Unit").

Each FT and NFT Unit consists 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 transferable share purchase warrant (each full warrant, a "Warrant"). Each Full Warrant entitles the holder thereof to acquire one common share of the Company (each, a "Warrant Share") at a price of C$0.20 per Warrant Share on or before April 19, 2024. The FT, NFT and Warrant Shares will be subject to a hold period ending on August 20, 2022.

The Flow Through proceeds from the Offering will be used to fund the Company's exploration programs at its silver-lead-zinc properties in the Rancheria Silver District (Yukon/British Columbia) and its polymetallic properties in Newfoundland. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

Key participants in this private placement included the Crescat Precious Metals Fund ("Crescat"), the Sprott Asset Management LP ("Sprott') and several long-time core investors. Crescat is a global macro asset management firm with Dr. Quinton Hennigh as a Member/Geological and Technical Director. Dr. Hennigh is a globally renowned exploration geologist with 30+ years of precious metals mining experience. Dr. Hennigh has played a key role in several major global discoveries. Sprott is a global asset manager that provides clients with access to highly-differentiated precious metals and real assets investment strategies. Sprott is a highly respected global leader and has partnered with numerous natural resource companies to help meet their capital needs through brokerage and resource lending activities.