REG - Cornish Metals Inc. - CORNISH METALS ANNOUNCES PDMR DEALINGS

Cornish MetalsAnnouncement

01/11/2022 07:16

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RNS Number : 8094E  Cornish Metals Inc.  01 November 2022

CORNISH METALS ANNOUNCES PDMR DEALINGS

 

November 1, 2022

Cornish Metals Inc. (TSX-V/AIM: CUSN) ("Cornish Metals" or the "Company"), a
mineral exploration and development company focused on its projects in
Cornwall, United Kingdom, was informed by Owen Mihalop (Chief Operating
Officer) that he has sold 50,000 common shares ("Disposed Shares") at a price
of 15.00 pence per common share:

 

 PDMR                                    Shares sold  Resultant shareholding  Resultant percentage shareholding
 Owen Mihalop (Chief Operating Officer)  50,000       400,000                 0.08%

Mr Mihalop acquired the Disposed Shares through the exercise of share options
as announced on October 13, 2022.  Mr Mihalop has sold the Disposed Shares
pursuant to an exception in the directors' lock-in agreement dated March 28,
2022 to which he is a party which permits certain disposals of shares
following the exercise of options or warrants.

 

The notification below, made in accordance with the requirements of the UK
Market Abuse Regulation, provides further detail.

 

 1     Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         Owen Mihalop

 2     Reason for the notification
 a)    Position/status                                              Chief Operating Officer
 b)    Initial notification /Amendment                              Initial notification

 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         Cornish Metals Inc.
 b)    LEI                                                          8945007GJ5APA9YDN221
 4     Details of the transaction(s): section to be repeated for (i) each type of

     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument  Common shares without par value

       Identification code                                          CA21948L1040

 b)    Nature of the transaction                                    Disposal of common shares of no par value each
 c)    Price(s) and volume(s)

                                                                                      Price(s)          Volume(s)
                                                                                      15.00 pence       50,000

 d)    Aggregated information

       - Aggregated volume                                          As above

       - Price

 e)    Date of the transaction                                      October 31, 2022
 f)    Place of the transaction                                     Outside of a trading venue

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

 

ABOUT CORNISH METALS

Cornish Metals completed the acquisition of the South Crofty tin and United
Downs copper / tin projects, plus additional mineral rights located in
Cornwall, UK, in July 2016 (see Company news release dated July 12, 2016
(https://www.cornishmetals.com/site/assets/files/5021/2016-07-12_nr.pdf) ).
The additional mineral rights cover an area of approximately 15,000 hectares
and are distributed throughout Cornwall. Some of these mineral rights cover
old mines that were historically worked for copper, tin, zinc, and tungsten.

For additional information please contact:

In North America:

Irene Dorsman at (604) 200 6664 or by e-mail at irene@cornishmetals.com
(mailto:irene@cornishmetals.com)

 

 

 SP Angel Corporate Finance LLP           Tel:              +44 203 470 0470

 (Nominated Adviser & Joint Broker)
                                          Richard Morrison
                                          Charlie Bouverat
                                          Grant Barker

 

 Hannam & Partners          Tel:                                                                          +44 207 907 8500

 (Joint Broker)
                            Matthew Hasson
                            Andrew Chubb
                            Ernest Bell

 BlytheRay                  Tel:                                                                          +44 207 138 3204

 (Financial PR/IR-London)
                            Tim Blythe                                                                    tim.blythe@blyther (mailto:tim.blythe@blytheray.com) ay
                                                                                                          (mailto:tim.blythe@blytheray.com) .com (mailto:tim.blythe@blytheray.com)
                            Megan Ray                                                                     megan.ray@blyther (mailto:megan.ray@blytheray.com) ay
                                                                                                          (mailto:megan.ray@blytheray.com) .com (mailto:megan.ray@blytheray.com)

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

"Richard D. Williams"

Richard D. Williams, P.Geo

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

Caution regarding forward looking statements

 

This news release contains "forward-looking statements". Forward-looking
statements, while based on management's best estimates and assumptions at the
time such statements are made, are subject to risks and uncertainties that may
cause actual results to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to:
risks related to receipt of regulatory approvals, risks related to general
economic and market conditions; risks related to the COVID-19 global pandemic
and any variants of COVID-19 which may arise;  risks related to the
availability of financing; the timing and content of upcoming work programs;
actual results of proposed exploration activities; possible variations in
Mineral Resources or grade; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes, title disputes, claims and
limitations on insurance coverage and other risks of the mining industry;
changes in national and local government regulation of mining operations, tax
rules and regulations.

Although Cornish Metals has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Cornish Metals undertakes no obligation or responsibility to
update forward-looking statements, except as required by law.

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