Vancouver, British Columbia--(Newsfile Corp. - May 3, 2019) - 21C Metals Inc. (CSE: BULL) (FSE: DCR1) (OTCQB: DCNNF) ("21C Metals" or the "Company") is pleased to announce that it has closed the oversubscribed first tranche of the non-brokered portion of the private placement (the "Offering") previously announced on March 18, 2019. The Company has issued an aggregate of 15,579,122 units (each, a "Unit") at a price of $0.18 per Unit for aggregate gross proceeds of $2,804,242.

Wayne Tisdale reported: "We are pleased to have oversubscribed this placement so that we can expand upon our palladium resource located within 70 kilometres of Sudbury, Ont. By pursuing the recommended work program referenced in the 43-101, this resource appears to have excellent potential to add palladium ounces to the current estimate. This palladium asset perfectly complements our current Tisová copper-cobalt project, on which we have also identified numerous high priority drill targets. At 21C Metals, we are actively pursuing the metals required for current production demand (palladium) while also preparing for the ever-increasing demand for cobalt and copper. We call our strategy metals for today and tomorrow."

Each Unit consists of one common share of the Company (a "Share") and one transferable common share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.30 for a period of 24 months following the Closing Date. If, following the closing of the Offering, the volume weighted average price of the Shares on the Canadian Securities Exchange is equal to or greater than $0.40 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering to commence exploration work on the Company's East Bull palladium and Tisová cobalt properties and for general working capital.

In connection with the Offering, the Company paid finder's fees in the amount of $16,821 (7%) and issued 93,450 finder's fee warrants, each of which is exercisable to acquire a Share at a price of $0.30 for a period of 24 months from the date of issue and subject to the same acceleration clause as outlined above.

Securities issued pursuant to this closing are subject to a hold period and may not be traded until September 4, 2019.

On behalf of the Board of Directors

Wayne Tisdale, President & Director

FOR FURTHER INFORMATION PLEASE CONTACT:

21C Metals Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4455

Reader Advisory

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the use of proceeds from the private placement. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in mining operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This press release shall not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons absent registration or applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44531

You don’t have to look far to hear all about cobalt.  We all know much more than we did a couple of years ago about its importance in batteries and the electric vehicle revolution and on and on.

For reasons that virtually no one can explain with any credibility, cobalt prices have gone into a deep, dark tunnel, a tunnel deep and long enough that everyone is actually afraid to look.  We all know that it’s going to change, it’s a question of when and what to do in the interim.

The fact is that nothing has actually changed.  Electric vehicles aren’t going anywhere and while infrastructure progress has been mixed, it will get there, with or without Elon Musk and all his shiny Teslas.  As is the case with the evolution and adoption of all technology, there are many tears and lots of hand-wringing along the way. 

At 21C, we took matters into our own hands and decided that a deeper dive into the macro trend of electric vehicles was needed.  And what we discovered truly surprised us.

Remember hybrid vehicles?  Tesla with their fancy showrooms made that all sound so 90s and old-fashioned.  We were headed for a slick new world where Elon could close your sunroof from a bunker in Nevada.  Cool.  Except when it’s not.  And right now, even though everything points to cobalt being exactly the thing we need, it’s tough to make its economic case.

Enter palladium.  Ah, the smell of catalytic converters in the morning.  Yes, that’s how this all fits together.  As you may know, palladium is needed for the catalytic converters found in old-fashioned internal combustion engines and cobalt is needed for electric vehicle batteries.  Et voila.  A hybrid car needs both.

That’s what we decided to do at 21C.  Rather than get better at cribbage waiting for anyone to care about cobalt (which we believe won’t be so far away so perhaps we wouldn’t have got much better anyway) we proactively decided to add the other hybrid element to 21C’s mix.  Palladium.

Back to the world of hybrids.  Because of infrastructure growing pains and the lack of robust range (who wants to get stuck on a quiet and cold Canadian side road looking for an extension cord and a plug?) it’s been a case of “not so fast, my friend”.

There is no question that the hybrid solution is a bridge, it’s something to get us from here to there.  “There” hasn’t quite arrived as yet so the logical solution is the hybrid.  It’s difficult to say how long this bridge will last or, frankly, be necessary.  According to Bloomberg, buyer behavior seems to indicate that the appetite is already there for fully electric vehicles, with the current hesitation being about the incessant worrying about range and, in the case of older vehicles such as the early Prius, mixed reviews about resale value and dependability.

Which takes us back to our economic forecasting at 21C.  In the near term, the 21C palladium project in Ontario is drill-ready and, due to its excellent location and logistics, the economics stack up.  The company’s Tisova cobalt project (or, as it’s sometimes lovingly referred to, the Tisova copper project with an excellent cobalt credit) stands ready, with drill targets identified and a program commencing Q2 2019.