Canada Strategic Metals (TSXV:CJC) announced it has closed the first tranche of a private placement, totaling $186,500. The Company paid intermediary fees of $14,920, along with 186,500 compensation options entitling their holders to purchase 186,500 common shares of the Company at a price of $0.15 per share for an 18-month period following the closing of the private placement.

According to the press release:

The Company has issued 186.5 units of common shares at a price of $1,000 per share for gross proceeds of $186,500.Each Unit includes 10,000 flow-through common shares at a price of $0.08 per flow-through share, 2,500 common shares at a price of $0.08 per share and 6,250 common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 18 months at a price of $0.15 per share.

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