Cascadia Announces Shares for Debt Settlements
Cascadia Announces Shares for Debt
Settlements
VANCOUVER, BC
,
Aug. 20, 2025
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM)
(OTCQB: CAMNF) announces that it is undertaking certain shares for debt settlements in connection
with its acquisition of Granite Creek Copper Ltd. ("
Granite Creek
") which closed on
August 13,
2025
(the "
Acquisition
").
Upon completion of the Acquisition,
Timothy Johnson
, the former Chief Executive Officer and
President of Granite Creek, became entitled to a change of control payment in the amount of
$360,000
, of which
$180,000
has been paid in cash. The balance of the change of control payment
is payable at Cascadia's election in either cash or Cascadia common shares ("
Cascadia Shares
")
priced at a five-day volume-weighted average price after the closing of the Acquisition. Cascadia
has elected to pay the entirety of the remaining amount owed to Mr. Johnson in connection with his
change of control payment in shares, and subject to receipt of TSXV approval, will issue 1,169,666
shares to him.
In connection with its acquisition of Granite Creek, Cascadia additionally agreed to settle a debt
owed to a past Chief Executive Officer of Granite Creek, for total consideration of
$365,000
. Of
this amount,
$55,000
is to be paid in cash, leaving a balance of
$310,000
payable at Cascadia's
election in cash or Cascadia Shares priced at a five-day volume-weighted average price after the
closing of the Acquisition. Cascadia has determined to settle
$235,946
by the issuance of
1,533,217 Cascadia Shares, subject to TSXV approval, with the balance paid in cash.
The payments to Mr. Johnson are a "related party transaction" for the purposes of Multilateral
Instrument 61-101
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
") as
Mr. Johnson became a director of Cascadia upon the closing of the Acquisition. Cascadia is relying
on an exemption from the minority approval and formal valuation requirements of MI 61-101 on the
basis that the value of the transaction does not represent greater than 25% of the market
capitalization of Cascadia.
All Cascadia Shares issued pursuant to the foregoing debt settlements will be subject to a four
month hold period from their date of issuance under applicable securities laws, and a further news
release will be issued on their issuance specifying the date on which this hold period will conclude.
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade
Minto
copper district in
Yukon
Territory, Canada
. The project is located south of and within 35km of the past-producing
Minto
mine,
which was recently acquired by Selkirk Copper Mines. The Carmacks Project hosts a Measured and
Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading
0.81 % copper, 0.26 g/t gold, and 3.23 g/t silver and 0.01% molybdenum) with a 2023 PEA
demonstrating positive economic potential (
$230.5 M
Post-Tax NPV
(5%)
and 29% Post-Tax IRR).
Cascadia also has a pipeline of discovery stage copper-gold properties throughout the Yukon Stikine
Terrane including its Catch Property, which hosts a copper-gold porphyry discovery where inaugural
drill results returned broad intervals of mineralization (
116.60 m
of 0.31% copper with 0.30 g/t gold).
Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with
rock samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver.
QA/QC
The technical information in this news release has been approved by
Andrew Carne
, P.Eng., VP
Corporate Development for Cascadia and a qualified person for the purposes of National Instrument
43-101.
Prospecting grab samples referenced in this release represent highlight results only, and include
results from 2024 and previous seasons. Below detection values for copper, gold and silver have
been encountered in grab samples in these target areas. For more details on Catch drilling and
prospecting results, please see Cascadia's News Releases dated
July 25, 2024
, and
July 19, 2023
.
The Mineral Resources and economic analysis disclosed here are referenced from the 2023
Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS
Canada Inc. Pricing for the Carmacks Project PEA base case economic analysis was US
$3.75
/lb
copper, US
$1,800
/oz gold, and US
$22
/oz silver at an exchange rate of
$1
:
US$0.75
. The results of
the
Carmacks
preliminary economic assessment are preliminary in nature, it includes inferred mineral
resources that are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral reserves, and there is no
certainty that the preliminary economic assessment will be realized.
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 NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable
securities laws. Readers are cautioned to not place undue reliance on forward-looking information.
Actual results and developments may differ materially from those contemplated by these
statements. The statements in this press release are made as of the date of this press release.
Cascadia undertakes no obligation to update forward-looking information, except as required by
securities laws.
SOURCE
Cascadia Minerals Ltd.
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For further information:
For further information, please contact: Andrew Carne, M.Eng., P.Eng.,
VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106,
CO: Cascadia Minerals Ltd.
CNW 08:00e 20-AUG-25