C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) has wrapped up its non-brokered private placement, which was fully subscribed, raising a total of C$8,050,000 in gross proceeds.
The placement was initiated following announcements to the market on November 1 and November 6. It involved the release of 115 million common shares in C3 Metals at an offering price of C$0.07 per share.
Capital for exploration in Jamaica and Peru
The bulk of the capital banked from this offering will be strategically allocated to support ongoing exploration initiatives in Jamaica.
It will also cover exploration and property expenses related to the Jasperoide project in Peru, with the remainder allocated for working capital and general corporate purposes.
About C3 Metals
C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) is a mineral exploration company with its sights trained on the discovery and development of significant copper and gold deposits.
The company is actively engaged in exploration activities in Jamaica, where it has identified 16 porphyry and 40 epithermal prospects across a 30-kilometre strike extent within its 20,700-hectare exploration licence package.
C3 Metals also holds around 24,000 hectares in the highly prospective Andahuaylas-Yauri Porphyry-Skarn belt of Southern Peru, with mineralisation similar to major mining operations at Las Bambas (MMG), Constancia (Hudbay) and Antapaccay ( Glencore (LON:GLEN)).
The company recently released a maiden resource estimate for the first of its skarn targets, which recorded measured and indicated resources of 52 million tonnes at 0.5% copper and 0.2 g/t gold.