Business
CMC Revises Terms to Non-Brokered Private Placement of April 7, 2021
(TheNewswire) Vancouver, BC. - TheNewswire -  April 30, 2021 - C...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"CMC Revises Terms to Non-Brokered Private Placement of April 7, 2021\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC. -\n \n \n TheNewswire -  April 30, 2021\n-\n \n \n CMC Metals Ltd. (“CMC”\nor the “Company”) (TSXV:CMB)\n \n \n (OTC:CMCXF) (FSE:ZM5N)\n \n \n is revising the terms\nof its proposed non-brokered private placement announced on April 7,\n2021. The revised terms are to sell up to 5,000,000 flow-through units\nof the Company (each, a “\n \n \n FT\nUnit\n \n \n ”) at a price of C$0.16 per FT Unit and up\nto 4,000,000 non-flow-through units of the Company (each, a\n“\n \n \n Unit\n \n \n ”) at a price of C$0.14 per Unit for aggregate gross\nproceeds of up to C$1,360,000 (collectively, the “\n \n \n Offering\n \n \n ”).  Red\nCloud Securities Inc. and German Mining Network will be acting as\nfinders on behalf of the Company in relation to the Offering.\n \n \n \n \n Each FT Unit will consist of one common share of the\nCompany to be issued as a “flow-through share” within the meaning\nof the\n \n \n Income Tax\nAct\n \n \n (Canada) (each, a “\n \n \n FT Share\n \n \n ”) and\none-half of one transferrable non-flow-through share purchase warrant\n(each full warrant, a “\n \n \n Warrant\n \n \n ”).  Each Unit will consist of one\ncommon share of the Company (each, a “\n \n \n Unit Share\n \n \n ”) and\none-half of one Warrant.  Each whole Warrant will entitle the holder\nthereof to acquire one non-flow-through common share of the Company\n(each, a “\n \n \n Warrant\nShare\n \n \n ”) at a price of C$0.30 per Warrant Share\nfor a period of 24 months from the closing date of the Offering.\n \n \n \n \n Proceeds from the sale of FT Shares to eligible\ninvestors in Canada will be used to incur \"Canadian exploration\nexpenses\" and \"flow through mining expenditures\" as\nthese terms are defined in the\n \n \n Income Tax Act\n \n \n (Canada). Such proceeds will be\nrenounced to the subscribers with an effective date not later than\nDecember 31, 2021, in the aggregate amount of not less than the total\namount of gross proceeds raised from the issue of FT Shares.\n \n \n \n \n The net proceeds from the sale of Units will be used to\nfund the Company’s ...