Canadian Metals Inc. announced a non-brokered private placement of 17,006,666 units at a price of CAD 0.075 per unit for gross proceeds of CAD 1,275,500 on January 19, 2018. Each unit consisted of one common share and one common share purchase warrant of the company. Each warrant entitling its holder to purchase one common share of the company at a price of CAD 0.15 per common share for a period of 2 years from the closing date. All securities issued in the transaction are subject to a statutory four month and a day hold period. Five directors of the company have participated in the transaction in the aggregate amount of CAD 165,000 which includes Stephane Leblanc has purchased 500,000 units for proceeds of CAD 37,500, Luigi Nardella has purchased 350,000 units for proceeds of CAD 26,250, Hubert Vallée has purchased 500,000 units for proceeds of CAD 37,500, Victor Cantore has purchased for 500,000 units for proceeds of CAD 37,500, and Michel Gagnon has purchased 200,000 units for proceeds of CAD 15,000 and in his own name, 150,000 units for proceeds of CAD 11,250. In addition, Robert Wares acquired 6,700,000 units approximately 8.27% of the issued and outstanding shares on a non-diluted basis and 15.17% on a partially diluted basis assuming the exercise of warrants for total consideration of CAD 502,500. The securities issued are subject to TSX Venture Exchange approval and the receipt of regulatory approvals. In connection with the transaction, a finder’s fee of CAD 10,000 was paid and 134,000 finder warrants were issued to registered intermediaries. The finder warrants have an exercise price of CAD 0.15 and a term of 2 years.