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| January 08, 2008 Closing of 2,000,000 Unit Flow-Through Private Placement | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that it has closed its 2,000,000 Unit flow-through private placement at $0.75 per Unit raising gross proceeds of $1,500,000. The Company will issue a total of 2,000,000 common shares to its placees at $0.75 per share, and Warrant Certificates to purchase up to a further 2,000,000 common shares exercisable at $0.80 per share expiring on December 28, 2008. The shares issued pursuant to the exercise of Warrants are non-flow through common shares. The proceeds of this private placement will be used to pay for the continued work program on the Company's properties both in British Columbia and the Yukon. A finder's fee of cash was paid to Limited Market Dealers Inc. in the amount of $37,500, NovaDX Ventures Corp. in the amount of $13,125, and Canaccord Capital Corporation of $8,850.00, representing 5% of the total gross proceeds raised by these companies in this private placement. In addition to the raising of $1,500,000 through the 2,000,000 Unit placement, a total of $890,000 was raised from the exercise of 850,000 of a total 1,000,000 Warrants expiring December 29, 2007 at $0.50 per share, and the exercise of 1,000,000 Warrants expiring September 30, 2007. The funds raised from the exercise of the named Warrants will be used for further exploration and development of the Company's mineral properties and general working capital. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. The technical information herein has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Donald Wedman, P.Eng., President and Chief Executive Officer for CMC Metals Ltd., a qualified person under National Instrument 43-101. On behalf of the Board: "Don Wedman" _________________________________ Don Wedman, P.Eng. CEO CMC METALS LTD. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. | |
You can view the Next News Releases item: Tue Jan 22, 2008, 3,188 gm/mt Silver and 83% Lead Sampled on Silver Hart Property You can view the Previous News Releases item: Wed Dec 19, 2007, Appointment of New Director / 2,000,000 Unit Flow-Through Private Placement / Grant of Options You can return to the main News Releases page, or press the Back button on your browser. |
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