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| June 25, 2009 Closing of 4,000,000 Unit Private Placement @ $0.10 Per Unit/Resetting of Incentive Stock Options | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that it has closed its private placement at $0.10 per Unit as announced by press release dated April 15, 2009, the terms of which were revised by press release dated June 3, 2009, raising gross proceeds of approximately $400,000 and issuing a total of 4,000,000 common shares to its placees at $0.10 per share, and issuing Warrant Certificates for 4,000,000 Warrant Shares. The terms of the exercise of the Share Purchase Warrants are every one Warrant is exercisable into one common share at $0.15 per share expiring June 15, 2011, resulting in the further issuance of 4,000,000 common shares should all the Warrant Shares be exercised. All funds raised pursuant to this placement will be used for general working capital. Finders' fees were paid to arms-length parties to the Company by way of cash or the issuance of shares and warrants, equal to the percentage of funds raised by those parties. The value of the finder's fees paid was $11,219, representing approximately 2.8% of the total gross proceeds raised. The Company further wishes to announce that it did not set options as contemplated in its April 15, 2009 press release. The Company, at this time wishes to announce that will grant up to 2,500,000 common shares pursuant to incentive stock options for granting to certain of its directors and employees under the Company's 2008 Stock Option Plan, which Plan received shareholder approval at the April 7, 2008 Annual General Meeting. The options will be granted at the exercise price of $0.15 per share for a five year period, subject to TSX Venture Exchange approval. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On behalf of the Board: "Don Wedman" Don Wedman, P.Eng. CEO CMC METALS LTD. For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at StoxNetwork Corp. Telephone: 250-495-7123, or Email: contact@stoxnetwork.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. | |
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