/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CSE: CTOC
www.c2cmetals.com
VANCOUVER, BC, April 19,
2024 /CNW/ - C2C Metals Corp. (CSE:
CTOC) (the "Company" or "C2C") is pleased to announce
that it has completed a non-brokered private placement (the
"Offering") for gross proceeds of C$1,768,476 from the sale of 10,402,800 units of
the Company (each, a "Unit") at a price of C$0.17 per Unit.
Each Unit consists of one common share of the Company (each, a
"Common Share") and one-half of one common share purchase warrant
(each whole warrant, a "Warrant"). Each whole Warrant will entitle
the holder thereof to purchase one Common Share at a price of
C$0.25 for a period of 24 months
following the issue date of the Unit.
The proceeds of the Offering will be used to fund exploration on
the Company's uranium projects in Utah as well as for general working capital
purposes. Finder's fees will be payable in accordance with the
policies of the CSE. The securities issued under the Offering will
be subject to a hold period ending on August
20, 2024. Red Cloud Securities Inc. acted as a
non-exclusive finder in connection with the Offering.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
One director of the Company participated in the Offering, which
constitutes a "related party transaction" under Multilateral
Instrument 61-101 Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). The Company relied on the
exemptions from the formal valuation and minority shareholder
approval requirements under section 5.5(a) and section 5.7(1)(a) of
MI 61-101, as the fair market value of the securities issued to the
related party did not exceed 25% of the Company's market
capitalization. The Company did not file a material change report
21 days prior to the closing of the Offering because the details of
participation had not been confirmed at that time.
About C2C Metals Corp.
C2C Metals is a mineral exploration company which holds a
portfolio of uranium, gold and copper projects in the United States and Canada.
Neither the Canadian Securities Exchange nor its Market
Regulator (as that term is defined in policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking
Statements
This news release may include forward-looking statements that
are subject to risks and uncertainties and can be identified by the
use of forward-looking terminology such as "expected", "will be",
"anticipated", "may" or variations of such words and phrases or
statements that certain actions, events or results "will" occur.
All statements within, other than statements of historical fact,
are to be considered forward looking. Although the Company believes
the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, and general economic, market
or business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. We do not
assume any obligation to update any forward-looking statements
except as required under the applicable laws.
www.c2cmetals.com
@C2CMetalsCorp
SOURCE C2C Metals Corp.