December 28, 2018 – Vancouver, British Columbia – Canadian Energy Materials Corp. (the “Company”) (TSX-V: CHEM) is pleased to announce that it has closed a second tranche non-brokered private placement of flow-through units (“FT Units”) for proceeds of $145,000 (the “Private Placement”). The Company announced in its new release dated December 21, 2018 the closing of the first tranche for aggregate proceeds of $551,409.95. The Company issued 725,000 FT Units at a price of $0.20 per FT Unit for gross proceeds of $145,000. Each FT Unit is comprised of one common share of the Company that will be a “flow-through share” under the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant (“FT Warrant”). Each FT Warrant entitles the holder thereof to acquire one (non-flow-through) common share (“FT Warrant Share”) at a price of $0.35 per FT Warrant Share for a period of 24 months following the closing date. The proceeds of the flow-through financing will be used for exploration on the Company’s Canadian properties, include the Grindstone Project. All securities issued in the private placement have a hold period of four months and a day from closing. A finder’s fee was paid by the Company on the Private Placement. A total of 52,000 nontransferable finders’ warrants were issued and cash commission of $10,400.00 was provided to the finder.
ON BEHALF OF THE BOARD,
Michael E. Schuss
President & Chief Executive Officer
For further information, please contact:
Canadian Energy Materials Corp.
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.