CMC Metals Ltd. announced a non-brokered private placement to issue flow-through units at a price of CAD 0.15 per FT unit and non-flow-through units of the company at a price of CAD 0.13 per unit for aggregate gross proceeds of up to CAD 750,000 on August 2, 2023. Each FT unit will consist of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one transferrable non-flow-through share purchase warrant. Each non-flow-through unit will consist of one common share of the company and one-half of one transferrable non-flow-through share purchase warrant.

Each unit will consist of one common share of the company and one-half of one 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 0.20 per warrant share for a period of 24 months from the closing date of the transaction. The company may pay finders' fees comprising 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's warrants will be the same as the warrants distributed in the FT units and the NFT 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.