Canada Strategic Metals will use proceeds from the capital to advance its portfolio of graphite projects in Quebec.
The company offered a total of 2,937,500 units at $0.16 for each unit, each of which comprises one common share and one-half of non-transferable share purchase warrant.
Each purchase warrant allows the holder to buy one non-flow-through common share at a price of $0.30 a share for a period of 12 months from the issue date.
The company also completed a payment of total commissions amounting to $32,900 in cash and 146,875 broker warrants to the agents, Marquest Capital Markets and Casimir Capital.
The broker warrants are exercisable at a price of $0.25 for a period of 12 months after the closing date.
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