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| March 02, 2010 Closing and Increase in 1,270,000 Unit Private Placement at $0.20 Per Unit to 1,728,000 Units | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that it has closed its private placement at $0.20 per Unit as originally announced August 21, 2009, as amended by press releases dated January 29, 2010 and February 8, 2010. This placement has been oversubscribed and increased from 1,270,000 Units to 1,728,000 Units, raising gross proceeds of approximately $345,600 and issuing a total of 1,728,000 common shares to its placees at $0.20 per share, and issuing Warrant Certificates for 1,728,000 Warrant Shares. The terms of the exercise of the Share Purchase Warrants are every two Warrants surrendered are exercisable into one common share at $0.25 per share expiring March 2, 2011, resulting in the further issuance of 864,000 common shares should all the Warrant Shares be exercised. The proceeds of the $345,600 raised will be used for general working capital. The value of the finder's fees paid was $15,567.00, representing approximately 4.5% of the total gross proceeds raised. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On behalf of the Board: "Donald Wedman" Don Wedman, P.Eng. President/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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