CAT Strategic Metals Corporation announced a non-brokered private placement of 23,809,523 units at a price of CAD 0.021 per unit for the gross proceeds of CAD 500,000 on October 3, 2023. Each unit will consist of one common share and one share purchase warrant. Each warrant shall entitle the holder to purchase one common share at a price of CAD 0.06 at any time on or before that date which is 36 months after the closing date of the offering.

At the closing of the offering, the company may pay to certain finders a cash commission up to 8.0% of the gross proceeds of the offering resulting from subscribers introduced by such finders, and issue to such finders common share purchase warrants. The transaction is expected to close in one or more tranches with the final closing no later than November 16, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.