Clean Air Metals plans private placement of flow-through shares

Clean Air Metals Inc., a development and exploration company, has announced a non-brokered private placement of up to 2,500,000 flow-through common shares at C$0.06 per share. The offering aims to raise up to C$150,000 and is expected to close on or about Thursday, pending approval by the TSX Venture Exchange. The flow-through shares will qualify under subsection 66(15) of the Income Tax Act (Canada), with proceeds intended for advancing development and exploration activities at the company's Thunder Bay North Critical Minerals Project and other Canadian exploration expenses that qualify as flow-through mining expenditures under the Tax Act.

CEO Mike Garbutt stated that the financing will enable the company to secure contracted resources to advance exploration activities at Thunder Bay North in the new year as it works toward closing a proposed transaction with Fiore-backed Springbok Ventures.

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