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| August 21, 2009 Increase in Units Offered and Closing of 2,000,000 Unit Flow-Through Private Placement @ $0.225 per Unit / New 1,000,000 Unit Private Placement @ $0.25 per Unit | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that it has closed its flow-thru private placement at $0.225 per Unit as announced by press release dated August 13, 2009, raising gross proceeds of $459,675 and issuing a total of 2,043,000 flow-through common shares to its placees at $0.225 per share, and issuing Warrant Certificates for 2,043,000 Warrant Shares. The terms of the exercise of the Share Purchase Warrants are that every two Warrants are exercisable into one non-"flow-through" common share at $0.30 per share expiring August 21, 2010, resulting in the further issuance of 1,021,500 common shares should all the Warrant Shares be exercised pursuant to this placement, as amended. All funds raised pursuant to this placement were used to pay for the work program on the Company's properties both in British Columbia and the Yukon, and for general working capital. Finders' fees will be paid to arms-length parties to the Company by way of cash equal to the percentage of funds raised by those parties, representing approximately 2% of the total gross proceeds raised. The Company further wishes to announce that it has agreed to issue up to 1,000,000 Units at $0.25 per unit, each unit consisting of one common share and one share purchase warrant. Two warrants will be exercisable for one additional common share at $0.30 per share for a period of twelve months. The proceeds of this private placement will be used to pay for general working capital purposes. A finder's fee may be payable in relation to this private placement. This transaction is 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: "Michael C. Scholz" Michael C. Scholz Chief Financial Officer 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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