Canadian Metals Receives First Installment on Sale of Property
Canadian Metals Inc. CSE: CME
Canadian Metals Receives the First Installment
on the Sale of the Langis Property
May 23, 2019 Montréal, Québec. - Canadian Metals Inc. (“CME” or the “Company”)
(CSE: CME) is pleased to announce that it has received the first payment of $500,000
from Les Minéraux Industriels du Québec Inc (« MIQ ») in relation to the closing of the
May 2, 2019 agreement . This payment represents the first installment of a total of
staged cash payments of $ 2,250,000 to be made by MIQ in accordance with the
agreement (see press release of May 2, 2019). The second installment of $150,000 will
be payable on or before December 31, 2019.
Stéphane Leblanc, Chief Executive Officer, commented, "We believe this agreement
bolds well with CME’s strategic plan and allows us to focus on the development of our
industrial project to transform quartz and leave the quarry operation to an experienced
entity. The long-term supply agreement at a locked -in price and the other silica
properties owned by CME should provide security to the raw material requirement and
meanwhile, the cash generated from this agreement helps support CME’s activities. We
are also on track to complete our feasibility study in Q2 2019.’’
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: [email protected]
(418) 717-2553
Patsie Ducharme
Chief Financial Officer
Email: [email protected]
(514) 895-5556
Website: www.canadianmetalsinc.com
About Les Minéraux Industriels du Québec Inc.
Les Minéraux Industriels du Quebec (MIQ) is a joint-venture between Groupe Bauval
Inc. and Rockebec Inc. MIQ's mission is to operate, produce and sell chemical-grade
minerals to industrial customers. The company develops geochemical management
methods to optimize the mining plans and to sustain the long-term exploitation of their
deposits.
For more information please contact:
Sophie Huygens
Operations director MIQ
Email: [email protected]
(514) 603 1826
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 crea tion, the investments to complete the project and the potential
performance, production, and environmental footprint of the ferrosilicon plant, are forward -looking
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currently available information, for which there is no insurance that such information will prove accurate.
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