(via Thenewswire.ca)
Vancouver, B.C. / TheNewswire / June 16, 2016 - CMC
Metals Ltd. (the “Company”) wishes to advise the closing of its 15,500,000 Unit private placement
at $0.10 per Unit, originally announced in its February 10, 2016 press release, as revised in its May 2, 2016 press
release, and the issuance of 11,200,000 of the total 15,500,000 Units on May 5, 2016 and the remaining 4,300,000 Units on June 15,
2016, with each Unit consisting of one common share and one transferrable share purchase warrant, with every two warrants
exercisable for one additional common share of the Company at $0.12 per share for a two year period (the “Units”). The
proceeds derived from the 15,500,000 Unit placement will be used towards our ongoing costs associated with the further development
of the Company’s Bishop Mill and Radcliff Property projects held in the US. A finder’s fee is payable pursuant to this
placement by way of cash and broker’s warrants equal to 8% of the total raised by the finder, being a total of $65,960 in cash and
659,600 in broker’s warrants issued on the same terms and conditional as the Units.
The Company further wishes to announce that it has granted 2,900,000 common shares pursuant to incentive stock
options under the Company's Rolling Stock Option Plan, which Plan received shareholder approval at its last Annual General Meeting
held June 18, 2015. The options granted will be set for a two year period expiring June 16, 2018 at the exercise price of
$0.12 per share. This transaction is subject to TSX Venture Exchange approval.
On
behalf of the Board:
“Jack Bal”
__
Jack Bal, President & CEO
CMC METALS LTD.
For further information on the Company, please contact Mr. Jack Bal, CEO, Telephone:
604-306-5285 jackbalyvr@gmail.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
“This news release includes certain statements that constitute
“forward-looking information” within the meaning of applicable securities law, including without limitation, statements that
address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation
activities and developments. Forward-looking statements address future events and conditions and are necessarily based upon a
number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the
Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks,
including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described
herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors
that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation
and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and
financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the
Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are
cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to
put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements
included in this news release are made as of the date hereof and the Company 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 securities legislation.”
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