CAT Corporate Strategic Funding Update


Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here.


VANCOUVER, BC /ACCESSWIRE/October 28, 2022/ CAT Strategic Metals Corporation (CSE: CAT, OTC PINK: CATTF, FRA: 8CH) (“CAT“or the”Company“) announces its intention to complete a non-brokered private placement through the issuance of 20,000,000 units at a price of $0.03 per unit (the “Private placement“). Each unit consists of one (1) common share (each a “Ordinary share“or the”Ordinary actions“) and one (1) common share purchase warrant (each a “To guarantee“), while each warrant entitles the lender to purchase one additional share of common stock (a “Warrant Action“) at an exercise price of $0.05 per warrant share for a period of 36 months following the exercise date of the warrant. The Company intends to use the proceeds of the private placement for exploration expenses and general working capital.

All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day in accordance with applicable securities legislation. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States. United States or to, or on behalf of or for the benefit of U.S. persons absent from registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Company also announces that it has entered into a senior secured loan agreement (the “Loan agreement“) with an arm’s length private lender for an aggregate principal amount of up to C$600,000 (the “Principal loan amountThe loan bears interest at 8% per annum compounded and calculated monthly, to accrue quarterly, before and after default; said interest being accrued quarterly to be paid in a single lump sum payment to be added to the principal at 18 months from the date hereof of the Loan (the “Due datePrior to the Maturity Date, the Lender has the right to convert all, but not less than $50,000, of the Principal Loan Amount and interest, in whole or in part, into Units of the Company (each a “Unity“or the”Units“) at a price of $0.05 per unit.

Each unit consists of one (1) common share (each a “Ordinary share“or the”Ordinary actions“) and one (1) common share purchase warrant (each a “To guarantee“), while each warrant entitles the lender to purchase one additional share of common stock (a “Warrant Action“) at an exercise price of $0.05 per warrant share for a period of 36 months following the date of exercise of the warrant.

The General Security Agreement provides the Private Lender with a charge on all assets of the Company as general and continuing collateral security for the payment and performance of required obligations, subject to customary encumbrances permitted. The Company intends to use the principal loan amount for pending and future corporate actions and general working capital.

About CAT Strategic Metals Corporation (CAT)

CAT Strategic Metals’ corporate strategy, as reflected in its overall mission statement, is to seek, identify, acquire and advance real estate interests located in mining districts with proven world-class potential, primarily for uranium, lithium, gold and copper. In addition to the priority South Preston uranium project, CAT is focused on advancing the Burntland project located in New Brunswick, Canada; the Gold Jackpot strategic metals property located NE of Elko, Nevada, USA; and the Kamativi Lithium Project in Matabeleland North Province, Zimbabwe Africa. CAT’s shares trade on the Canadian Securities Exchange (CSE) under the symbol “CAT”, on the OTC under the symbol CATTF and on the Frankfurt Stock Exchange under the symbol “8CH”.

ON BEHALF OF COUNCIL

Robert Rosner
Chairman, President and CEO

Further information regarding the Company is available on SEDAR at www.SEDAR.comby visiting the Company’s website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

We are looking for a safe harbor.

THE SOURCE: CAT Strategic Metals Corporation

See the source version on accesswire.com:
https://www.accesswire.com/722958/CAT-Strategic-Corporate-Financing-Update