C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) has announced a $10 million bought deal private placement led by Paradigm Capital and co-lead by underwriter Canaccord Genuity Group, alongside a syndicate of underwriters.
Under the agreement, the underwriters will purchase 20 million common shares at $0.50 per share, with an option to acquire up to an additional 3 million shares, which could bring in an extra $1.5 million.
The funds will be used for exploration and development work at C3 Metals’ Khaleesi copper-gold and Super Block projects, as well as for general working capital.
Paradigm Capital will act as the sole bookrunner for the offering.