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CME - Canadian Metals Inc News Story

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Last Trade - 07/08/20

Sector
Basic Materials
Size
Micro Cap
Market Cap £743k
Enterprise Value £375k
Revenue £n/a
Position in Universe th / 2675

Canadian Metals enters into option agreement to expand its Blackshale property located west of the Brunswick 12 mine.

Tue 9th April, 2019 12:00pm
Canadian Metals enters into option agreement to expand its Blackshale property located west of the Brunswick 12 mine.

MONTRÉAL, April 09, 2019 (GLOBE NEWSWIRE) -- Canadian Metals Inc. (“CME” or the “Company”) (CSE: CME) is pleased to announce it has entered into an arm’s length option agreement (the “Option”) to acquire an undivided 100% interest (the “Interest”) in 11 mining claims adjacent to its Blackshale property located west of the Brunswick 12 mine.

Pursuant to the terms and conditions of the Option, the Corporation will issue 450,000 common shares (each a “Share”) in the capital of the Corporation as follows:

  1. 150,000 Shares on the execution of the Option;
  2. 150,000 Shares on or before April 8, 2020; and
  3. 150,000 Shares on or before April 8, 2021.

Upon exercise of the Option, CME will grant the optionors a 2% Net Smelter Returns (NSR) Royalty, subject to the right to purchase a 1% NSR royalty for $1,000,000.

This Option remains subject to approval of the Canadian Securities Exchange. The Shares issued as consideration under this option agreement will be subject to a statutory hold period of four months and one day from the date of issuance.

About Brunswick No.12 and Brunswick No.6

Brunswick No. 12 mine and Brunswick No. 6 mine. These mines produced approximately 150 million tonnes of plus 12 per cent zinc equivalent. Brunswick No. 12 was the largest underground zinc mine for nearly 50 years, processing an average of 10,500 tonnes per day.

About Canadian Metals Inc.

Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale industrial mineral portfolios in specific commodities and jurisdictions that will fuel the new energy economy. The company is uniquely positioned to pursue this strategy in silicon, precious and base metal assets.

For more information, please contact:

Stéphane Leblanc
Chief Executive Officer
Email: sleblanc@canadianmetalsinc.com
 
René Boisvert
President
Email: rboisvert@canadianmetalsinc.com 
 
Website: www.canadianmetalsinc.com

Cautionary Statements Regarding Forward-Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions, or results, including in connection with the prefeasibility study, its financing, job creation, the investments to complete the project and the potential performance, production, and environmental footprint of the ferrosilicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate”, or “future”, or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions, and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties, and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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

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