12:43:12 EDT Fri 14 May 2021
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CAT Strategic Metals Corp
Symbol CAT
Shares Issued 128,496,310
Close 2021-04-22 C$ 0.06
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CAT Strategic closes $333,568 tranche two of placement

2021-04-22 18:33 ET - News Release

Mr. Robert Rosner reports


CAT Strategic Metals Corp. has closed the second, and final, tranche of the non-brokered private placement described in its news release of Feb. 16, 2021. In connection with the final tranche closing of the offering, the company issued 4,169,600 units at a price of eight cents per unit for gross proceeds of $333,568. Each unit consists of one common share in the capital of the company and one whole transferable common share purchase warrant. Each whole warrant is exercisable to acquire one share at an exercise price of 16 cents per share until Feb. 28, 2026.

The company paid finders' fees of $9,800 in cash in connection with this final tranche of the offering, as well as issued 122,500 finders' warrants exercisable at eight cents per warrant for a period of 24 months from the date of issuance.

The company raised a total of $2,044,000 and issued 25.55 million units in connection with both tranches of the offering, and paid finders' fees of $56,398.80 in cash, and issued 686,235 non-transferable finders' warrants exercisable at a price of eight cents per finder's warrant for a period of 24 months from the date of issuance. The company also paid a corporate finance fee of $3,000 in connection with the offering.

The securities issued under the offering, and any shares that may be issuable upon exercise of any warrants, 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 offering for exploration activities, including at the recently announced South Preston uranium property; for general property and claim payments; and for general working capital purposes.

The private placement is subject to the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

About CAT Strategic Metals Corp.

CAT Strategic is a Canadian-based mineral exploration company focused on the acquisition and derisking of overlooked projects situated in well-established world-class geological districts in North America. The company is specially focused on minerals which are considered highly strategic from a monetary, as well as global infrastructure and energy, point of view. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol CAT, on the OTC Markets under the trading symbol CATTF and on the Frankfurt Stock Exchange under the symbol 8CH.

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