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CAT Strategic Metals Announces Non-Brokered Private Placement to Raise up to CDN$1.5 Million, for Which Firm Commitments of CDN$900k Have Been Obtained
VANCOUVER, BC / ACCESSWIRE / April 27, 2022 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CHA) ("CAT" or the "Company") announces that it in
About this update from Cat Strategic Metals Corporation
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / April 27, 2022 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CHA) (\"CAT\" or the \"Company\") announces that it intends to raise up to CDN$1,500,000 by way of a non-brokered private placement of 50,000,000 units (the \"Units\"), at a price of CDN$0.03 per Unit (the \"Private Placement\"), for which firm commitments of CDN$900,000 have been obtained. Each Unit will be comprised of one common share in the capital of the Company (a \"Share\") and one whole non-transferable share purchase warrant (a \"Warrant\"). Each whole Warrant will be exercisable to acquire one Share at an exercise price of CDN$0.05 per Share for a period of 36 months from the date of issuance. The securities issued pursuant to the Private Placement, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities. CAT intends to use the net proceeds of the Private Placement for further exploration of CAT's properties, with a primary focus on the South Preston Uranium Property, and for general working capital purposes. Certain insiders of the Company may acquire Units in the Private Placement. Any participation by insiders in the Private Placement would constitute a \"related party transaction\" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization. The Company may pay finder's fees on the Private Placement, subject to compliance with applicable securities legislation. About CAT Strategic Metals Corporation: CAT's Mission Statement and corporate strategy is to source, identify, acquire and advance property interests located in mineral districts proven to have world class potential, primarily for gold and copper. In addition to the South Preston Uranium Project, CAT's Burntland Project is focused on the exploration and development of several targets located Northeast of Saint Quentin ...