Castle Peak Mining Ltd. Announces a Loan of $425,000 from Allan Green and Candel & Partners SAS
Castle Peak Mining Ltd. Announces a Loan of
$425,000 from Allan Green and Candel &
Partners SAS
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2021) -
Castle Peak Mining Ltd.
(TSXV:
CAP) ("Castle Peak" or the "Company") announced that Allan Green, a director of the Company, and
Candel & Partners SAS, a private company beneficially owned by Allan Green, (together, the Lender)
have agreed to lend the amount of $425,000 to the Company (the "Loan"). The Loan will be unsecured
and bear interest at the rate of 8% per annum. The principal amount of the Loan will mature on April 27,
2022.
The Loan is subject to approval by the TSX Venture Exchange. The proceeds of the Loans will be
utilized for working capital for the Company.
The Loans will constitute related party transactions under Multilateral Instrument 61-101 - Protection of
Minority Holders in Special Transactions ("MI 61-101"), which has been adopted by the TSX Venture
Exchange as Policy 5.9, because Mr. Green is a director of the Company. The Company has
determined that it is exempt from the minority approval and formal valuation requirements under MI 61-
101 in respect of the Loans, relying on the exemptions found in sections 5.5(1)(a) and (b) and 5.7(1)(a)
of MI 61-101. The principal amount of the Loans represents less than 25% of the Company's market
capitalization as of April 27, 2021.
All the disinterested directors of the Company, being all of the directors other than Allan Green,
approved the Loan.
On behalf of the Board of Castle Peak Mining Ltd.:
"Iyad Jarbou"
Chief Financial Officer
Tel: 604.362.7685
Email:
FORWARD-LOOKING AND OTHER CAUTIONARY INFORMATION
Except for statements of historical fact, this news release contains certain 'forward-looking information'
and 'forward-looking statements' within the meaning of applicable securities laws. This release may
contain statements that are forward looking statements and are subject to various risks and
uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and
elsewhere in the Company's periodic filings with Canadian securities regulators. Such information
contained herein represents management's best judgment as of the date hereof based on information
currently available. As a result, readers are cautioned not to place undue reliance on these forward-
looking statements. The forward-looking statements contained in this news release are made as of the
date of this release. The Company does not assume the obligation to update any forward-looking
statement, except as required by law. For more information on the Company, investors should review
the Company's filings that are available at
www.sedar.com
.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) nor the Investment Industry Regulatory Organization of
Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/81966