Brief: Canadian Metals Signs Agreement To Acquire FeTiV Minerals' Interest On 5 Iron Projects In Quebec, And Appoints Gérald Panneton As CEO

Silver Acadia Exploration

08/07/2019 12:08

July 8 (Reuters) - Canadian Metals Inc  CME.CD :
    * CANADIAN METALS SIGNS AGREEMENT TO ACQUIRE FETIV MINERALS’
INTEREST ON 5 IRON PROJECTS IN QUEBEC, AND APPOINTS GÉRALD
PANNETON AS CHAIRMAN & CEO
    * CANADIAN METALS INC - CME HAS RIGHT TO ACQUIRE FMI'S 80%
INTEREST IN IRON ORE PROJECTS
    * CANADIAN METALS INC - TO COMPLETE DEAL, CME MUST PAY $5
MILLION
IN COMMON SHARES OF CO, $5 MILLION IN CASH ON OR BEFORE DECEMBER
31, 2019
    * CANADIAN METALS - CME MUST PAY ADDITIONAL $5 MILLION IN
SHARES,
$5 MILLION IN CASH ON OR BEFORE DECEMBER 31, 2020, SUBJECT TO
CONDITIONS
    * CANADIAN METALS INC - OPTION AGREEMENT TO ACQUIRE A 100%
INTEREST IN MOUCHALAGANE, SILICATES LAKE, SEIGNELAY, LAC ROBOT
AND BAIE-TRINITÉ IRON PROJECTS

Source text for Eikon:  ID:nGNX6BrsP2 
Further company coverage:  CME.CD 

 (((Reuters.Briefs@thomsonreuters.com);))