CAT STRATEGIC METALS ANNOUNCES FLOW-THROUGH PRIVATE PLACEMENT UNIT OFFERING OF UP TO $1.2 MILLION, AND ALSO CLOSES FIRST TRANCHE OF THE OFFERING
Vancouver, BC March 31, 2021 CAT Strategic Metals Corporation (CSE: CAT) (“CAT” or the “Company“) is pleased to report that it has closed the first tranche of a non-brokered private placement (the “Private Placement”) of 6,694,444 flow-through units of the Company (the “FT Units”), at a price of CDN$0.09 per FT Unit, for gross proceeds of CDN$602,500.00.
Each FT Unit consists of one common share (a “FT Share”) of the Company and one-half non-transferable common share purchase warrant (the “FT Warrant”). Each whole FT Warrant, will entitle the holder to purchase one common share of the Company (the “FT Warrant Share”) at a price of CDN$0.16 per FT Warrant Share until February 28, 2026.
In connection with the issuance of the FT Units, the Company will pay finder’s fees upon closing of the second and final tranche of the FT offering. The finder’s fees will include cash and finder’s warrants.
The proceeds from the issuance of the FT Units will be used for qualifying exploration on the Company’s Canadian properties in New Brunswick and Saskatchewan and will entitle the holder to receive the applicable tax benefits in accordance with the provisions of the Income Tax Act (Canada).
The Private Placement is subject to the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”). 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 Corporation:
CAT Strategic Metals Corporation is a Canadian based mineral exploration company focused on the acquisition and de risking 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 OTCMarkets.com under the trading symbol “CATTF”, and on the Frankfurt Stock Exchange under the symbol “8CH”.
ON BEHALF OF THE BOARD
Chairman, President & CEO
This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted exploration outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will be found or have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.