Business
Canadian Critical Minerals Closes $222,000 Financing
Calgary, Alberta--(Newsfile Corp. - July 25, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI...
About this update from Canadian Critical Minerals Inc
[{"type":"text","content":"\nCanadian Critical Minerals Closes $222,000 FinancingCalgary, Alberta--(Newsfile Corp. - July 25, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (\"CCMI\" or the \"Company\") has closed a financing for proceeds of $222,000, comprised of 3,700,000 Flow-Through Units with an issue price of $0.06 per unit. Each Flow-Through Unit consists of one common share and one half of one common share purchase warrant that is exercisable into a common share at an exercise price of $0.09 per share for a period of two years. All securities issued are subject to a statutory hold period that expires four months and one day from issuance.In connection with the financing, the Company paid finders cash commissions totalling $10,500 and issued 175,000 non-transferrable broker warrants equal to 7% of the Flow-Through Units sold. Each broker warrant entitles its holder to acquire one common share of the Company at a price of $0.06 for a 24-month period.Proceeds from the financing will be used for exploration and development activities at the Bull River Mine project near Cranbrook, B.C.About Canadian Critical Minerals Inc.CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 30% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.Contact InformationCanadian Critical Minerals Inc.Ian BerzinsPresident & Chief Executive OfficerM: +1-403-512-8202E: [email protected] Website: www.canadiancriticalmineralsinc.comCaution Regarding Forward-Looking InformationThis news release includes certain information that may constitute \"forward-looking information\" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inabili...