MICHAEL C. SCHOLZ ACQUIRES SECURITIES OF CMC METALS LTD
Vancouver,December 11,2013–Mr. Michael C. Scholz (the “Offeror”), Suite 605, 369 Terminal Avenue,
Vancouver, British Columbia, V6A 4C4, announces that effective
October 30, 2013,he acquired a further5,710,000common shares of CMC Metals Ltd.(the “Reporting Company”) pursuant to his participation in the Reporting Company’s private placement whereby
he participated as to 1,200,000 Units by way of a corporation to
which he is the sole director and officer, named 369 Terminal Holdings Ltd., and 4,510,000 Units in his own name, each Unit consisting of one common share and one Share Purchase Warrant exercisable into one common share of the Reporting Issuer for a two year period at $0. 05 per share if exercised during year one, and $0.10 per share if exercised during year two but before the expiration date of October 30, 2015(the “Acquired Units.
Of the total 4,510,000 Units purchased in his own name, 3,010,000
are flow-through on issuance with the Warrants attached being non-flow-through on issuance.
Thetotal5,710,000common shares represent approximately 16.19%
of the total holdings of the Offeror of the issued and outstanding common shares of the Reporting Issuer.
Immediately prior to the acquisition of thetotal 5,710,000 common shares, the Offer held by way of control both directly and indirectly,6,963,003 common shares in the capital of the Reporting Issuer, representing11% of the then issued and outstanding common shares of the Reporting Issuer. Upon the issuance of the total 5,710,000 common shares pursuant to the Reporting Issuer’s private placement,the Offeror was granted warrants convertible into a total of 5,710,000 common shares of the Reporting Company at $0.05 per share during year one, and $0.10 per share during year two up to the date of expiry of October 30, 2015.These securities together with the 5,710,000
common shares represent an aggregate of 19.70% of the total holdings of the Offeror in the issued and outstanding common shares of the Reporting Issuer calculated assuming exercise of the
all warrants.
The Acquired Units were acquired from treasury in connection with a private placement of the Company completed on October 30, 2013. These transactions were effected for investment purposes and the Offeror could increase or decrease his investments in the Company at any time, or continue to maintain his current investment
position, depending on market conditions or any other relevant factor. The Acquired Units were acquired for a
purchase price of Cdn$0.05 per Acquired Unit for aggregate consideration of $ 285,500.
Additional Information
A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by
contacting:
Mr. Michael C. Scholz
Tel: (604) 605-0166
