On February 23, 2021, Clean Air Metals Inc. closed a bought deal private placement of 11,904,800 flow-through shares at a price of $0.42 per flow-through share and 12,745,100 flow-through units at a price of $0.51 per flow-through unit for aggregate gross proceeds of approximately $11.5 million, which includes the exercise of the underwriters’ over-allotment option. Each unit is comprised of one common share and one-half of one common share purchase warrant of Clean Air Metals. Each warrant entitles the holder to acquire one common share at a price of $0.55 until February 23, 2023.
The offering was conducted by Paradigm Capital Inc., as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Clarus Securities Inc. and Echelon Wealth Partners Inc.
Cassels acted for the underwriters.