CMC Announces Completion of the Sale of its Subsidiary Company 0877887 B.C. Ltd. Including the Bishop Mill in California to 1436132 B.C. Ltd. and Granting of Stock Options

Rhea-AI Summary

CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) has completed the sale agreement of its subsidiary company 0877887 B.C Ltd to 1436132 B.C. Ltd, which owned 100% of a gold processing mill at Bishop, California. The company also granted incentive stock options to directors, officers, advisors, and employees. The options will entitle them to purchase up to 2,100,000 common shares at a price of $0.07 per share for a period of five years. The Company's President and CEO, Kevin Brewer, has approved the technical information reported herein.

VANCOUVER, BC / ACCESSWIRE / December 4, 2023 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce that is has completed the sale agreement of it subsidiary company 0877887 B.C Ltd to 1436132 B.C. Ltd. The subsidiary company owed 100% of a gold processing mill at Bishop, California. The terms of this agreement were previously announced on November 1, 2023.

Mr. John Bossio, Chairman of the Company noted: "We wish 1436132 B.C. Ltd. the best of success in their plans to re-establish processing operations of the mill in Bishop, California. Their success will also contribute value to our shareholders. This sale enables us to focus on our exploration activities in the Rancheria Silver District (British Columbia and Yukon) and to examine new opportunities in other jurisdictions."

The Company has also granted incentive stock options to directors, officer, advisors and employees entitling them to purchase up to 2,100,000 common shares at a price of $0.07 per share for a period of five years. The options will vest on a quarterly basis commencing three months from the date of grant.

Qualified Person

Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), and Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil, (central Newfoundland) and Logjam (Yukon).

On behalf of the Board:

"John Bossio"
John Bossio, Chairman
CMC METALS LTD.

For Further Information and Investor Inquiries:

Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

SOURCE: CMC Metals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/813059/cmc-announces-completion-of-the-sale-of-its-subsidiary-company-0877887-bc-ltd-including-the-bishop-mill-in-california-to-1436132-bc-ltd-and-granting-of-stock-options

FAQ

What is the latest announcement from CMC Metals Ltd. (CMB)(ZM5P)(CMCXF)?

CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) has completed the sale agreement of its subsidiary company 0877887 B.C Ltd to 1436132 B.C. Ltd, which owned 100% of a gold processing mill at Bishop, California. The company also granted incentive stock options to directors, officers, advisors, and employees.

What is the price of the incentive stock options granted by CMC Metals Ltd. (CMB)(ZM5P)(CMCXF)?

The incentive stock options entitle the holders to purchase up to 2,100,000 common shares at a price of $0.07 per share for a period of five years.

Who is the President and CEO of CMC Metals Ltd. (CMB)(ZM5P)(CMCXF)?

Kevin Brewer is the President and CEO of CMC Metals Ltd. He has approved the technical information reported in the announcement.

What is the significance of the sale agreement completed by CMC Metals Ltd. (CMB)(ZM5P)(CMCXF)?

The sale agreement of the subsidiary company owning a gold processing mill at Bishop, California allows CMC Metals Ltd. to focus on exploration activities in the Rancheria Silver District and examine new opportunities in other jurisdictions.

What standards does CMC Metals Ltd. (CMB)(ZM5P)(CMCXF) commit to in reporting technical content?

The Company is committed to meeting the highest standards of integrity, transparency, and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying, and all other technical data.