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 22nd, 2024 (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.
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