CAT Strategic Metals Corporation announced a non brokered private placement of 20,000,000 units at issue price of CAD 0.03 per unit for gross proceeds of CAD 600,000 on October 28, 2022. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at an exercise price of CAD 0.05 per warrant share for a period of 36 months from the closing.

All the securities to be issued are subject to a hold period of four month and one day from closing. The company also entered into a senior secured loan agreement for CAD 600,000. The loan bears interest at 8% per annum and will mature at 18 months from the date of closing.

The investor has the right to convert all but not less than CAD 50,000 of the principal loan amount into units of the company at a price of CAD 0.05 per unit. Each Unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at an exercise price of CAD 0.05 per warrant share for a period of 36 months from the closing.