Canada Strategic Metals Announces Second Closing of $70,000
MONTREAL, QUEBEC--(Marketwired - Apr 24, 2015) - Canada Strategic Metals Inc. ("Strategic Metals" or the "Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) is pleased to announce that it has closed the second tranche of a non-brokered private placement, for an amount of $70,000.
The Company has issued 700,000 units of common shares at a price of $0.10 per unit, for gross proceeds of $70,000. Each unit consists of one common share priced at $0.10 and half a warrant to purchase a common share of the Company. Each warrant entitles its holder to purchase one common share of the Company at $0.15 for a 24-month period after closing of the private placement.
The Company paid intermediary fees of $800, along with 8,000 compensation options entitling their holders to purchase 8,000 common shares of the Company at a price of $0.15 per share for a 24-month period following the closing of the private placement.
All the securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.
The Company is pursuing its efforts in order to proceed to complete the private placement for up to $500,000.
The proceeds of this private placement will be used for working capital and for property development.
The private placement is subject to regulatory approval.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Jean-Sebastien Lavallée, P. Geo
Chief Executive Officer
819-354-5146
Christophe Romary
President
514-913-7483
Paradox Public Relations
514-341-0408
Momentum Public Relations Inc.
450-332-6939