RE:RE:$4.93 to go....keep rolling her back...
January 15, 2019
CMC Announces Update to Corporate Restructure and Shares for Debt Settlement
Vancouver, BC.: CMC Metals Ltd. - (“the Company”) (TSX-V: CMB) – wishes to announce that it will not be proceeding with the grant of a 10,000,000 share purchase warrant as consideration for the extension of the repayment terms of the shareholder loan of $900,000, as announced in its November 26, 2018 press release. The Company has decided to settle the shareholder loan, as well as a majority of the debt incurred by the Company to date, by way of the issuance of shares in its common stock at $0.125 per share, subject to regulatory approval.
Upon receipt of regulatory approval, the Company will issue an estimated 9,000,000 common shares in settlement of approximately $1,100,000 worth of debt. The issuance of the shares pursuant to the debt settlement will not result in a change of control.
About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in the United States and Canada that offers potential for near-term cash flow. The Company is led by a seasoned team with experience developing assets to production. The Company’s Silver Hart Property is a Silver-LeadZinc asset located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 Contiguous and partial claims.