VANCOUVER, BC, Feb. 17, 2022 /CNW/ - Cullinan Metals Corp. (CSE: CMT) (the "Company") is pleased to announce that it has completed its initial public offering of common shares through its agent, Haywood Securities Inc. (the "Agent"). The offering of 2,785,000 common shares (the "Offering") was fully subscribed for gross proceeds of $278,500. In consideration for the Agent's services provided in connection with the Offering, the Company paid a cash commission equal to 10.0% of the gross proceeds from the sale of Common Shares proceeds under the Offering and a corporate finance fee.
The company intends to use the net proceeds from the Offering to carry out exploration of its Lac Chavigny Gold Project and for general working capital purposes.
The Company's common shares were listed on the Canadian Securities Exchange on February 16, 2022 and are expected to begin trading under the symbol "CMT" on February 18, 2022.
Certain statements in this release are forward-looking statements within the meaning of Canadian securities laws, including but not limited to, statements relating to the trading date of the Company's common shares on the Canadian Securities Exchange and the use of proceeds from the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
SOURCE Cullinan Metals Corp.
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