C3 Metals Augments Bought Deal Private Placement To $18 Million

C3 Metals Inc. (TSXV: CCCM) announced on Thursday that it is amending its bought deal financing agreement with a syndicate of underwriters led by Canaccord Genuity. From the previously announced $15.0 million deal, the firm reported that the underwriters have agreed to upsize it to $18.0 million.

At the same share price of $0.19, the financing will see an increase of the common shares to 94,736,900 from 78,947,400 shares. The underwriters still have the option to purchase up to 15,789,500 additional shares at the same share price for a potential additional proceeds of $3.0 million.

The offering is expected to close on November 9, 2021, subject to regulatory approvals.

The company relayed its plans to use the proceeds from the offerings on the expansion of the drill program at its 100%-owned Jasperoide copper-gold property in Peru and to undertake a maiden drill program at its Bellas Gate property in Jamaica, as well as for general working capital and corporate purposes.

C3 Metals last traded at $0.205 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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