Business
CMC Announces Closing of $0.125 Unit Private Placement and Grant of Incentive Stock Options
(TheNewswire) January 13, 2021 – TheNewswire - Vancouver, BC. ...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"CMC Announces Closing of $0.125 Unit Private Placement and Grant of Incentive Stock Options\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n January 13, 2021 –\n \n \n TheNewswire -\n \n \n Vancouver, BC. - CMC Metals Ltd. (“the\nCompany”) (TSXV:CMB)\n \n \n (OTC\n \n \n :CMCXF\n \n \n )\n \n \n (\n \n \n Frankfurt:ZM5N\n \n \n )\n \n is pleased to announce that it has\nclosed its $600,000 / 4,800,000 Unit private placement as announced\npursuant to its December 10, 2020 and December 22, 2020 press\nreleases, having received TSX Venture Exchange approval. The financing\nclosed with the issuance of 4,800,000 units priced at $0.125 per Unit\nwith each Unit comprising of one common share and one transferable\nshare purchase warrant. Every two transferable warrants surrendered\nare exercisable into one additional common share at $0.20 per share\nfor a two-year period expiring January 13, 2023.  The proceeds of\nthis placement will be used primarily to fund exploration activities,\nongoing technical studies and corporate activities.  A cash\nfinder’s fee of $5,300 is payable in connection with a portion of\nthe private placement, equal to 8% of gross proceeds received from\nsubscribers located by the finder.  The shares issued pursuant to\nthis transaction are subject to a four month hold period expiring May\n14, 2021.\n \n \n \n 39627 Yukon Inc., a company owned by Kevin Brewer,\nPresident & CEO and an insider of the Company, has acquired\n125,000 Units pursuant to the 4,800,000 Unit private placement.  This\n \n \n transaction constitutes a “related party\ntransaction” under Multilateral Instrument 61‑101\n \n \n Protection of Minority Security Holders in\nSpecial Transactions\n \n \n (“\n \n \n MI 61‑101\n \n \n ”).  The related party\ntransaction is exempt from the formal valuation requirements of\nSection 5.4 of MI 61‑101 pursuant to subsection 5.5(a) of\nMI 61‑101, and exempt from the minority approval requirements of\nSection 5.6 of MI 61‑101 pursuant to subsection 5.7(1)(a) of\nMI 61‑101.  A material change report was not filed more than 21\ndays prior to closing as contemplated by the related party transaction\nrequirements under MI 61-101 as the ...