Vancouver, B.C. – August 22, 2023, Clarity Metals Corp. (“Clarity” or the “Company”) (CSE: CMET; OTC: CLGCF; FSE: 27G0) announces its intention to undertake a non-brokered private placement offering of up to 15,000,000 units (each, a “Unit”) at a price of $0.03 per Unit for gross proceeds of up to $450,000 (the “Private Placement”). The Company may, at its discretion, increase the size of the Private Placement by up to 15% to accommodate additional demand.
Each Unit will consist of one common share of the Company (each, a “Share”) and one Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share (each, a “Warrant Share”) at a price of $0.05 per Warrant Share for a period of two years following the closing date. The issue price per Unit is based upon the 20-day volume weighted average trading price of the Shares traded on the Canadian Securities Exchange at the time the Company obtained price protection. All securities issued under the Private Placement will be subject to a statutory hold period of four months and one day from the closing date.
The gross proceeds from the Private Placement will be used for general working capital purposes and mineral exploration. The Private Placement may close in one or more tranches.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Clarity
Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on the acquisition, exploration and development of precious and base metals projects. Clarity’s exploration mandate is global and focused on countries with established legal and regulatory systems supporting mining investment. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CMET”. To learn more about Clarity Metals Corp. and its projects please visit www.claritymetals.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritymetals.com
Website: www.claritymetals.com
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Cautionary Note on Forward-Looking Information
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “may”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Company’s business and the anticipated closing of the Private Placement. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s management’s discussion and analysis for the three month period ended March 31, 2023, which is available on the Company’s profile at www.sedarplus.ca.