C3 Metals Announces Closing of $4.5 Million Private Placement

About this update from C3 Metals Inc.

[{"type":"text","content":"C3 Metals Announces Closing of $4.5 Million Private PlacementToronto, Ontario--(Newsfile Corp. - October 9, 2024) - C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) (\"C3 Metals\" or the \"Company\") is pleased to announce that, further to its press release of September 23, 2024, it has completed its non-brokered private placement through the issuance of 14,999,999 common shares (each, a \"Common Share\") in the capital of the Company at a price of $0.30 per Common Share for gross proceeds of $4.5 million (the \"Placement\").All securities issued in connection with the Placement are subject to a hold period until February 10, 2025 and the resale rules of applicable securities legislation. Proceeds from the Placement will be used primarily for exploration programs at the Company's projects in Jamaica; for exploration programs, permitting and property costs for Company projects in Peru; and, for working capital and general corporate purposes.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Pursuant to the Placement, Robert L. Gipson acquired 7,000,000 Common Shares. Prior to the completion of the Offering, Mr. Gipson beneficially owned and controlled, directly or indirectly, 5,999,999 Common Shares, representing approximately 9.70% of the Company's issued and outstanding Common Shares on an undiluted basis and partially diluted basis. Following the completion of the Placement, Mr. Gipson beneficially owns and controls, directly or indirectly, an aggregate of 12,999,999 Common Shares, representing approximately 16.91% of the Company's issued and outstanding Common Shares on an undiluted basis and partially diluted basis. Depending on market and other conditions, or as future circumstances may dictate, Mr. Gipson may from time to time increase or decrease his holdings of Common Shares or other securities of the Company. A copy of the early warning report will be available on...

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