CMC Metals Ltd. announced a non-brokered private placement to issue 3,571,428 units at an issue price of CAD 0.07 per unit for the gross proceeds of CAD 249,999.96 on November 3, 2023. Each flow-through unit will consist of one common share and one transferable non-flow-through share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one non-flow-through common share of the company at a price of CAD 0.10 per warrant share for a period of 24 months from the closing date of the offering.

The company will pay a 6% of finder's fee composed of cash and non-transferable warrants in connection with the offering, subject to compliance with the policies of the TSX Venture Exchange. The terms of the finder warrants will be the same as the warrants distributed in the FT units. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance.

Closing is subject to customary closing conditions, including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.