Toronto, Ontario--(Newsfile Corp. - March 29, 2021) - C3 Metals Inc. (TSXV: CCCM) (the "Company") is pleased to announce that, during the period from mid-January to date, a total of 23,440,751 warrants and 8,060,000 stock options were exercised resulting in cash proceeds to the Company of approximately $2.8 million. These proceeds, in addition to the $7.4 million of gross proceeds raised in the Company's private placement financing closed on February 18, 2021, have resulted in the Company currently holding approximately $10.3 million in cash.
Kevin Tomlinson, CEO, commented, "The Company greatly appreciates the vote of confidence from existing shareholders who have increased their shareholdings through warrant and option exercises. We are now fully funded for both our ongoing Phase 1 and planned Phase 2 drilling campaigns at our Jasperoide, Peru project."
For additional information, contact:
Kevin Tomlinson
President & CEO
+1 647 953-5924
ktomlinson@c3metals.com
Alec Rowlands
Vice President, Investor Relations
+1 416 572 2510
arowlands@c3metals.com
ABOUT C3 METALS INC.
C3 Metals Inc. is a junior minerals exploration company focused on creating substantive value for its shareholders through the discovery and development of large copper and gold deposits. The Company's flagship project is the 5,700-hectare Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri Porphyry-Skarn belt of southern Peru. Mineralization at Jasperoide is hosted in a similar geological setting to the nearby major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore). C3 Metals also holds a 100% interest in five licenses covering 207 km2 of highly prospective copper-gold terrain in Jamaica, a 100% interest in two porphyry copper-gold properties, with one under option to Tocvan Ventures, covering 304 km2 within the Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46 km2 Stewart Brook gold project in the Meguma gold belt of Nova Scotia.
Related Link: www.c3metals.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.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, the Company provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".
IMPORTANT NOTICE: C3 Metals hereby incorporates the entire disclaimer set forth on its website at https://www.c3metals.com/disclaimers-and-forward-looking-statements/.
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