Sold for .02 below market pricing but good to see strong demand!! Next catalyst should be first round of 2021 drill results.
TORONTO, Jan. 25, 2021 (GLOBE NEWSWIRE) -- C3 Metals Corp. (“ C3 ” or the “ Company ”) (TSXV: CCCM) is pleased to announce that it has amended its agreement with Eight Capital, acting as lead agent for the Company, on behalf of a syndicate of agents (collectively with Eight Capital, the “ Agents ”) to increase the size of its previously announced “best efforts” private placement offering to up to approximately $6,500,060 by offering for sale up to 46,429,000 common shares of the Company (the “ Shares ”) on a “best efforts” private placement basis at an issue price of $0.14 per Share (the “ Issue Price ”), subject to all regulatory approvals (the “ Offering ”).
The Company has granted the Agents an over-allotment option to distribute up to an additional 6,964,300 Shares at the Issue Price, exercisable in whole or in part at any time within 48 hours prior to the closing of the Offering. If this option is exercised in full, an additional approximately $975,000 will be raised and the aggregate proceeds of the Offering will be approximately $7,475,000.
The Company intends to use the net proceeds of the Offering to fund exploration at the Company’s Jasperoide project as well as for working capital and general corporate purposes.
The closing date of the Offering is scheduled to be on or about February 5, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.