MONTREAL, March 18, 2020 (GLOBE NEWSWIRE) — Canadian Metals Inc. (“CME” or the “Company”) (CSE: CME) announces that it has entered into debt settlement agreements with arms-length parties (the “Creditors“) to settle an aggregate C$141,975 in debt (the “Debt“). In settlement of the Debt, the Company will issue an aggregate of 567,901 common shares in the capital of the Company (the “Debt Shares“) at a deemed price of C$0.25 per Debt Share (the “Debt Settlement“).
The Debt will be completely satisfied and extinguished upon the issuance of the Debt Shares.All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.Closing of the Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange.About Canadian Metals Inc.Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale mineral deposits in specific commodities and safe jurisdictions.For more information, please contact:Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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