Canadian Metals announces Oversubscribed Non-Brokered Private Placement
December 8, 2017 (Source) — Canadian Metals Inc. (The “Company”) (CSE:CME)(CSE:CME.CN)(CNSX:CME) announces that, further to its December 7, 2017 press release and based on initial subscription results, it intends to complete a non-brokered private placement with proceeds exceeding the originally announced target of $300,000 due to high investor interest. CME intends to upsize the placement of Shares in the Company at a same price of $0.075 per Unit (the “Offering”). The Company will use the net proceeds from the Offering to finance the pre-feasibility at its flagship Ferro Alloys Smelter in Baie-Comeau.
“We are extremely pleased by the high level of investor interest in our current offering. I think it is a strong endorsement of what we have achieved so far with the development program at Langis and the increasing confidence in our ability to continue to show strong results and advance the Langis Project,” stated Stephane Leblanc, Chief Investment Officer of Canadian Metals. “This funding will allow us to aggressively execute the second phase of our development programs, complete the pre-feasibility by March 2018 and prepare for the Langis production start.”
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About Canadian Metals
Canadian Metals is focused on the development of its Langis project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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