Press release from TheNewswire.ca
Canada Strategic Metals Completes Non-Brokered Private Placement
Thursday, November 08, 2012
Vancouver, British Columbia - November 8, 2012 - Canada Strategic Metals Inc. ("the Company") (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) announces that it has closed the non-brokered private placement (the "Financing") previously announced on October 9, 2012, pursuant to TSX Venture exchange acceptance obtained on October 29, 2012. The Company issued 2,050,000 units (the "Units") at a price of $0.055 per Unit for gross proceeds of $112,750. Each Unit is comprised of one common share and one non-transferable share purchase warrant (the "Warrant"), each Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.10 per share for a period of two years from the date of closing. The proceeds of the Financing will be used to advance the Company's graphite projects and for general working capital.
The securities issued pursuant to the Financing will be subject to a hold period and may not be traded until March 9, 2013, pursuant to applicable Canadian securities laws and the policies of the TSX Venture Exchange.
About Canada Strategic Metals
Canada Strategic Metals is an emerging growth company focused on the exploration and development of its large portfolio of graphite projects located throughout Quebec. With management experience in green technology, Quebec exploration and development, and the junior resource sector, Canada Strategic Metals is well positioned to aggressively advance this promising portfolio for our shareholders.
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.
For more information on Canada Strategic Metals Inc., please visit www.canadastrategicmetals.com or call:
Jean-Sebastien Lavallee, P. Geo
President & Chief Executive Officer
Paradox Public Relations
On behalf of the Board,
President & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the use of proceeds from the Financing may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, delays in obtaining or failure to obtain required approvals. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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