Cullinan Metals Announces Closing Of Non-Brokered Financing And Changes To The Board Of Directors
Vancouver - Cullinan Metals Corp. (CSE: CMT) (OTCQB: CMTNF) (the "Company" or "Cullinan") announces that pursuant to its news release dated March 19, 2026, it has closed the non-brokered private placement. The Company issued 3,999,625 common shares ("Shares") at a price of CAD$0.16 per Share, for gross proceeds of CAD$639,940 (the "Offering"). The Shares are subject to a 4-month plus one day hold period which will expire August 14, 2026. The Company paid finders fees, in cash, in the amount of $10,018.
An aggregate of 134,375 Shares were issued, directly or indirectly, to a director of the Company and as such, constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transaction ("MI 61-101"). The Company has allocated proceeds from the Offering for general administrative and working capital purposes.
The Company is pleased to also announce that Ms. Raylen Tamayo has joined the board of directors. Ms. Tamayo brings over 8 years of experience in finance and accounting, primarily within publicly listed companies. She began her career as an assurance and consulting associate at a top accounting firm and has since advanced through senior finance roles across a range of sectors. Her areas of expertise include IFRS compliance, financial reporting and management, control and process streamlining, as well as advisory services for initial public offerings (IPOs) and reverse takeovers (RTOs). Ms. Tamayo currently serves as a Manager at Zeus Accounting Solutions Corp., where she also holds Controller roles for several companies. She holds a Master's degree from the University Canada West, where she majored in Finance.
Mr. Richard Ko has submitted his resignation from the board of directors of the Company and Cullinan thanks Mr. Ko for his years of services.
On Behalf of the Board,
CULLINAN METALS CORP.
Marc Enright-Morin
CEO, Director
(604) 428-7050
About Cullinan Metals Corp.
Cullinan Metals Corp. is a Canadian mining and exploration company focused on the evaluation and potential development of energy metals. The Company is actively reviewing and pursuing opportunities in key energy resources, including copper, graphite, and lithium, in select jurisdictions worldwide.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include, but are not limited to, statements regarding management plans, future operations, and the appointment of a permanent Chief Financial Officer. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and future events may differ materially from those anticipated due to various risks and uncertainties, including those disclosed in the Company's management's discussion and analysis and other disclosure documents available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Canadian Securities Exchange website at www.thecse.com. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.
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