C3 Metals closes $28 million private placement for copper-gold projects

C3 Metals Inc. (TSXV: CCCM) completed a bought deal private placement raising $28,000,500 through the sale of 25,455,000 common shares at C$1.10 per share. The offering included the exercise of an over-allotment option.

The placement was underwritten by Paradigm Capital Inc., ATB Cormark Capital Markets, Canaccord Genuity Corp. and BMO Nesbitt Burns Inc. C3 Metals paid the underwriters a fee of $1,680,030, representing 6% of the gross proceeds.

The company plans to use the net proceeds for exploration and development activities at its 100%-owned Khaleesi Copper-Gold project and its 50%-owned Super Block project, along with general working capital purposes.

All securities issued are subject to a statutory hold period ending June 12, 2026. The offering requires final acceptance from the TSX Venture Exchange.

The transaction constituted a related party transaction as an insider acquired 3,864,000 shares. C3 Metals relied on exemptions from valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 because the company is not listed on a specified market and the insider's participation does not exceed 25% of the company's market capitalization.

C3 Metals operates mineral exploration projects in Peru and Jamaica, focusing on copper and gold deposits. The company holds approximately 31,000 hectares in Peru's Andahuaylas-Yauri Porphyry-Skarn belt and interests in Jamaican exploration licenses totaling over 27,000 hectares.

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