CMC Metals Ltd. announced a non-brokered private placement of up to 34,285,714 non-flow-through units of the company at a price of CAD 0.035 per unit for aggregate gross proceeds of up to CAD 1,200,000 on February 27, 2024. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share of the company at a price of CAD 0.05 for a period of 12 months from issuance.

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-V. 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. The transaction is subject to customary closing conditions, including, but not limited to, the negotiation and execution of subscription agreements and the receipt of applicable regulatory approvals, including approval of the TSX-V.