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Canadian Metals Announces Closing of $2.3 Million Private Placement
Montreal, Quebec--(Newsfile Corp. - October 14, 2025) - Canadian Metals Inc. (CSE: CME) ("CME" or the "Company") is pleased to announce that it has completed a
About this update from Silver Acadia Exploration Inc.
[{"type":"text","content":" Montreal, Quebec--(Newsfile Corp. - October 14, 2025) - Canadian Metals Inc. (CSE: CME) (\"CME\" or the \"Company\") is pleased to announce that it has completed a non-brokered private placement (the \"Private Placement\"), pursuant to which it has issued 8,181,816 units of the Company (each a \"Unit\") at a price of $0.11 per Unit and 11,666,661 \"flow-through\" units (each a \"FT Unit\") at a price of $0.12 per FT Unit, for total cumulative gross proceeds of $2,299,999.08. Each Unit is comprised of one common share in the capital of the Company (each, a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $0.18 for a period of 18 months from the closing date. Each FT Unit is comprised of one Common Share issued as a \"flow-through\" share and one-half of one common share purchase warrant (each whole warrant, a \"FT Unit Warrant\"). Each whole FT Unit Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 for a period of 18 months from the closing date. The gross proceeds from the Private Placement will be used by the Company to advance its exploration programs on its five properties in the Bathurst Mining Camp, New Brunswick. The Company intends to use the gross proceeds from the sale of the FT Units to incur exploration expenses that are eligible \"Canadian exploration expenses\" that qualify as \"flow-through critical mineral mining expenditures\" as such terms are defined in the Income Tax Act (Canada). The Corporation paid finder fee of $20,919.99 in cash. CEO of the Company Julien Davy, an insider of the Company (the \"Insider\"), subscribed for a total of 125,000 FT Units under the Private Placement, which constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The issuance of FT Units to the Insider is exempt from the formal valuation requirements of MI 61-101 as the Company's securities are not listed on any of the stock exchanges listed in section 5.5(b) of MI 61-101 and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market v...