MONTRÉAL, Aug. 28, 2025 /CNW/ - CANADIAN METALS INC. ("CME" or the "Corporation") (CSE: CME), announces that further to its press release dated August 19, 2025 (the "Initial Press Release"), announcing the entry into certain debt settlement agreements (the "Shares for Debt Agreements"), it has closed such shares for debt transactions, resulting in the aggregate issuance of 4,395,542 common shares in the capital of the Company (the "Debt Shares") at a deemed price of $0.24 per Debt Share (the "Debt Settlement"). The Debt Shares were issued in consideration for settling an aggregate principal debt amount of $1,054,932 owing by the Corporation to holders of the Debentures (as defined herein).
The outstanding debt and corresponding share settlement figures that were previously disclosed in the Initial Press Release incorrectly reflected the initial principal amount of the Debt as of the date of the issuance of the Debentures, versus the actual outstanding principal amount of the Debt as of the date of the Shares for Debt Agreements that was to be settled. The remaining accrued interest owing pursuant to the Debentures will be settled by a cash payment.
The indebtedness relates to outstanding principal owing regarding previously issued unsecured convertible debentures of the Corporation issued on December 18, 2020 (the "Debentures").
All common shares issued in connection with the Debt Settlement are subject to a statutory four month and one day hold period, in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.
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.
Website: www.canadianmetalsinc.com
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. THE DEBENTURES AND THE SHARES WHICH MAY BE ISSUED ON EXERCISE THEREOF HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
