C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) has completed its non-brokered private placement, raising $4.5 million for its exploration efforts in Jamaica and Peru.
The Canadian company issued almost 15 million shares at a price of $0.30 per share.
The funds will primarily be used for exploration programs at the company’s copper and gold projects in Jamaica and Peru, as well as for working capital and general corporate purposes.
C3 Metals, a mineral exploration company, is focused on discovering and developing large copper and gold deposits.
In Southern Peru, the company controls around 30,000 hectares in the high-grade Andahuaylas-Yauri Porphyry-Skarn belt, near major mining operations such as Las Bambas (MMG), Constancia (Hudbay), and Antapaccay (Glencore). Over 15 skarn and two porphyry prospects have been identified along two 28 km belts, with a maiden resource estimate showing 52Mt at 0.5% copper and 0.2 g/t gold.
In Jamaica, C3 Metals is exploring over 30 km of strike length, with 16 porphyry, 40 epithermal, and multiple volcanic redbed copper prospects. The company holds a 100% interest in 17,855 hectares of exploration licenses and a 50% interest in 9,870 hectares through a joint venture with Geophysx Jamaica Ltd.