Canadian Critical Minerals Closes $100,000 Flow-Through Financing

Rhea-AI Summary

Canadian Critical Minerals (TSXV: CCMI, OTCQB: RIINF) has completed a $100,000 flow-through financing, issuing 1,666,667 units at $0.06 per unit. Each unit includes one common share and half of one common share purchase warrant, exercisable at $0.09 per share over a two-year period. The securities have a four-month and one-day statutory hold period. No commissions were paid for this financing. The proceeds will be allocated to exploration and development activities at the Bull River Mine project near Cranbrook, B.C.

Positive

• Secured $100,000 in new capital through flow-through financing
• No commission costs associated with the financing
• Funds designated for specific development of Bull River Mine project

Negative

• Small financing amount may indicate capital access
• Potential dilution for existing shareholders through new share issuance
• Warrants could lead to additional future dilution if exercised

Calgary, Alberta--(Newsfile Corp. - December 30, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") has closed a $100,000 financing composed of 1,666,667 flow-through units with an issue price of six cents per unit. Each flow-through unit consists of one common share and one-half of one common share purchase warrant that is exercisable into a common share at an exercise price of nine cents per share for a period of two years.

All securities issued are subject to a statutory hold period that expires four months and one day from issuance.

The Company did not pay any commissions in connection with the financing.

Proceeds from the financing will be used for exploration and development activities at the Bull River Mine project near Cranbrook, B.C.

About Canadian Critical Minerals Inc.

CCMI is a mining company primarily focused on copper production in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. The mine has a fully developed underground infrastructure to a depth 350 metres below surface with 21,000 metres of underground workings. The mine is being maintained in a dewatered condition. The mine is connected to grid power and is accessible by paved and all-weather roads. The property is near the towns of Fernie, Cranbrook and Kimberley in the East Kootenays of British Columbia. The Company is currently generating revenues from the sale of concentrated ore from a large surface stockpile.

Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com

Caution Regarding Forward-Looking Information

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235485

FAQ

How much did Canadian Critical Minerals (RIINF) raise in its December 2024 flow-through financing?

Canadian Critical Minerals raised $100,000 through its flow-through financing in December 2024.

What is the exercise price and duration of RIINF's warrants from the December 2024 financing?

The warrants have an exercise price of $0.09 per share and are exercisable for a period of two years.

What is the hold period for securities issued in RIINF's December 2024 financing?

The securities issued have a statutory hold period of four months and one day from issuance.

How will RIINF use the proceeds from its December 2024 flow-through financing?

The proceeds will be used for exploration and development activities at the Bull River Mine project near Cranbrook, B.C.

What was the price per unit in RIINF's December 2024 flow-through financing?

The flow-through units were issued at a price of six cents ($0.06) per unit.