Cassels acted for the underwriters.
On February 23, 2021, Clean Air Metals Inc. closed a bought deal private placement of 11,904,800 flow-through shares at a price of $0.42 per flow-through share and 12,745,100 flow-through units at a price of $0.51 per flow-through unit for aggregate gross proceeds of approximately $11.5 million, which includes the exercise of the underwriters’ over-allotment option. Each unit is comprised of one common share and one-half of one common share purchase warrant of Clean Air Metals. Each warrant entitles the holder to acquire one common share at a price of $0.55 until February 23, 2023.
The offering was conducted by Paradigm Capital Inc., as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Clarus Securities Inc. and Echelon Wealth Partners Inc.
Clean Air Metals Inc. is a Canadian based platinum and palladium exploration company focused on advancing its flagship Thunder Bay North and Escape Lake projects located in the Thunder Bay region of Ontario.
The Cassels team comprised Chad Accursi (Picture), Randall Blom and David Singh (Securities and Mining) and Tera Li Parizeau (Tax).
Involved fees earner: Chad Accursi – Cassels Brock & Blackwell LLP; Randall Blom – Cassels Brock & Blackwell LLP; Tera Li Parizeau – Cassels Brock & Blackwell LLP; David Singh – Cassels Brock & Blackwell LLP;
Law Firms: Cassels Brock & Blackwell LLP;