CAT STRATEGIC METALS CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Vancouver, BC – March 1, 2021 CAT Strategic Metals Corporation (CSE: CAT) (“CAT” or the “Company“) announces that it has closed the first tranche of the non-brokered private placement (the “Offering”) described in its news release of February 16, 2021. In connection with the first tranche closing of the Offering, the Company issued an aggregate of 21,380,400 units (the “Units”) at a price of CDN$0.08 per Unit for gross proceeds of CDN$1,710,432. Each Unit consists of one common share in the capital of the Company (a “Share”) and one whole transferable common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.16 per Share until February 28, 2026.
The Company will pay finder’s fees of CDN$46,598.80 in cash in connection with this first tranche of the Offering, as well as issue 563,735 finder’s warrants exercisable at $0.08 per warrant for a period of 24 months from the date of issuance.
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.
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”, and on the Frankfurt Stock Exchange under the symbol “8CH”.
ON BEHALF OF THE BOARD
Chairman, President & CEO