The Canadian Chrome Company Inc. has proposed a private placement to raise up to $8.4 million through the issuance of up to 1,400,000,000 units at a price of $0.006 per unit.

Each unit comprises one subordinate voting share and one-hundredth of a multiple voting share purchase warrant. Warrants are exercisable for one multiple voting share at $1.00 each prior to the earlier of five years from the first closing date or two business days following a change of control. Finder's fees of up to 5% are payable in units at the same $0.006 price, and all resulting securities carry a four-month hold period.

Proceeds from the offering will fund corporate overhead, operating expenses, and the company's mineral exploration and development business focused on large-scale chromite and base metal deposits. Subscribers must qualify as accredited investors or meet prospectus-exempt requirements.

Alongside the financing, the company proposed the appointment of Michael Minas as Vice-President of Capital Markets, pending approval at the next board of directors meeting.

“Michael is a global markets institutional equity trader having launched his international career trading treasuries at Cantor Fitzgerald in NYC, following which he joined CIBC World Markets as an Executive Director. He then joined Genuity Capital Markets as a co-founder and was subsequently appointed Director of Institutional Sales for Canaccord Genuity Group Inc. Until recently he was CEO of The Ring of Fire GP Inc under its engagement by The Canadian Chrome Company,” said Frank Smeenk, Chief Executive Officer of the Company. “We are delighted to have Michael join us in this capacity, now that the path forward into the USA and its capital markets has been addressed for Canada's critical minerals.”

Canadian Chrome is also conducting a strategic review to evaluate alternatives including a potential sale, merger, or asset divestiture.

Read the full announcement: CCC Announces Proposed Private Placement of Units and Appointment of Michael Minas as VP Capital Markets