C3 Metals increases private placement to $2.4-million

Aug 14, 2020

2020-08-13 13:06 ET – News Release

Mr. Tony Manini reports

C3 METALS ANNOUNCES INCREASE TO PRIVATE PLACEMENT

Due to significant investor demand, C3 Metals Inc. is increasing the amount of its private placement financing stated in its press release of Aug. 5, 2020, of its previously announced non-brokered private placement to a maximum of 43,636,363 common shares in the capital of the company at a price of 5.5 cents per share for gross proceeds of up to $2.4-million.

The proceeds of the offering will be used for exploration at the Jasperoide project in Peru and general working capital purposes. The actual allocation of net proceeds may vary depending on future operations or unforeseen events or opportunities. The closing of the offering is expected to occur on or before Aug. 17, 2020, or such other date as the company may determine.

It is anticipated that a number of insiders including directors will be subscribing for a portion of the offering. Certain eligible persons may receive a cash commission of up to 7 per cent of the gross proceeds of the offering and finder warrants equal to 7 per cent of the common shares issued pursuant to the offering. Each finder warrant entitles the holder to purchase common shares at a price of 5.5 cents per common share. All securities issued under the offering will be subject to a four-month-and-one-day statutory hold period.

About C3 Metals Inc.

C3 Metals is focused on creating substantive long-term value for its shareholders through the discovery and development of large copper and gold deposits. The company’s flagship project is the highly underexplored 5,700-hectare Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri porphyry-skarn belt of southern Peru. Mineralization at Jasperoide is hosted in similar geology to the nearby major mining operations at Las Bambas (Minmetals), Constancia (Hudbay) and Antapaccay (Glencore).

C3 also holds a 100-per-cent interest in five licences covering 207 square kilometres of highly prospective copper-gold terrain in Jamaica, a 100-per-cent interest in two porphyry copper-gold properties covering 337 square kilometres within the Cascade magmatic arc in southwestern British Columbia and a 100-per-cent interest in the 46-square-kilometre Stewart Brook gold project in the Meguma gold belt of Nova Scotia. C3 is seeking partners to further develop these highly prospective Canadian and Caribbean assets.

We seek Safe Harbor.

https://c3metals.com/