Montréal, Québec–(Newsfile Corp. – September 3, 2024) – Canadian Metals Inc. (CSE: CME) (“CME” or the “Corporation“) announces that it has applied for Canadian Securities Exchange’s approval to a 2-year extension (the “Extension“) of the term of an aggregate of 15,822,783 post-Consolidation common share purchase warrants originally 79,113,917 common share purchase warrant (the “Warrants“). The Warrants were originally issued as part of a private placement closed on 2 tranches dated December 29, 2022 and January 11, 2023 respectively. Following the 5:1 basis share consolidation of the Corporation effective on April 22nd2024 (the “Consolidation“), the number of the Warrants and the exercise price thereof be adjusted accordingly. The terms of the Warrants be as follows:
| Issuance Date: | December 29, 2022 | January 11, 2023 |
| Original Number of Warrants: | 73,585,361 | 5,528,556 |
| Post-Consolidation Number of Warrants: | 14,717,072 | 1,105,711 |
| Original Exercise Price: | $0.048 | $0.048 |
| Post-Consolidation Exercise Price: | $0.24 | $0.24 |
| Original Expiry Date: | December 29, 2024 | January 11, 2025 |
| New Expiry Date: | December 29, 2026 | January 11, 2027 |
All other terms of the Warrants will remain unchanged.
About Canadian Metals Inc.
Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale mineral deposits in specific commodities and safe jurisdictions. The company currently has 28,822 hectares of highly prospective land in New Brunswick, Canada, the projects are within and bordering the prolific Bathurst Mining Camp (BMC) and are 100% owned. The properties cover a range of geological target types including VMS style, structurally controlled gold, porphyry copper-gold-molybdenum, and skarn lead-zinc-copper-silver mineralization.
For more information, please contact:
Wanda Cutler
Mobile: +1-416-303-6460
Website: www.canadianmetalsinc.com
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222061
