Mr. Ian Berzins reports
CANADIAN CRITICAL MINERALS CLOSES $600,000 FLOW-THROUGH FINANCING
Canadian Critical Minerals Inc. has closed its previously announced flow-through financing for gross proceeds of $600,000, comprising 17,142,858 flow-through units with an issue price of 3.5 cents per unit. Each unit consists of one flow-through share and one-half of one common share purchase warrant that is exercisable into a common share at an exercise price of five cents per share for a period of three years.
The company paid cash finders' fees of $42,000 and issued 1.2 million finder warrants, with each warrant exercisable into a common share at an exercise price of five cents per share for three years.
All securities issued will be subject to a statutory hold period that expires four months and one day from issuance.
Proceeds from the financing will be used for exploration and development activities at the Bull River mine project near Cranbrook, B.C.
About Canadian Critical Minerals Inc.
Canadian Critical Minerals is a mining company primarily focused on copper production assets in Canada. Canadian Critical Minerals' main asset is the 100-per-cent-owned Bull River mine project (150 million pounds of copper) near Cranbrook, B.C., which has a mineral resource containing copper, gold and silver. Canadian Critical Minerals also owns a 9-per-cent interest in XXIX Metal Corp., which holds a 100-per-cent interest in the Thierry copper project near Pickle Lake, Ont., and a 100-per-cent interest in the Opemiska copper project near Chapais-Chibougamau, Que.
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