Canadian Chrome Company Amends Its Agreement to Acquire Board Control of Magpie Mines Which Holds Large Vanadium and Titanium Deposits in Quebec
Canadian Chrome Company Amends Its Agreement to Acquire Board Control of Magpie Mines Which Holds Large Vanadium and Titanium Deposits in Quebec
Toronto, Ontario--(Newsfile Corp. - August 14, 2023) - KWG Resources Inc. (CSE: CACR) (CSE: CACR.A), which carries on business as The Canadian Chrome Company ("CCC", "KWG" or the "Company") (The Canadian Chrome Company is a registered business style of KWG Resources Inc.) announces that its agreement to acquire (the "Acquisition") all of the issued and outstanding special shares of The Magpie Mines Inc. ("Magpie Mines") (please see the Company's news release of July 31, 2023) has been amended to provide for the Company to set the first closing date (the "First Closing Date") on not less than thirty (30) days' notice to the Vendors, such First Closing Date to be on or before July 28, 2024. As the Company believes that the first closing may be material to the shareholders of KWG and of Magpie Mines, when the Company sets the First Closing Date the Company intends to publish advance notice at least 21 days prior to such First Closing Date.
安大略省多倫多--（Newsfile Corp.-2023 年 8 月 14 日）- KWG Resources Inc.（CSE：CACR）（CSE：CACR.A），其業務爲 加拿大Chrome公司 （“CCC”、“KWG” 或 “公司”）（加拿大Chrome公司的註冊商業風格爲 KWG 資源公司）宣佈其收購（“收購”）所有已發行和流通的特別股的協議 Magpie Mines Inc. （“Magpie Mines”）（請參閱公司2023年7月31日的新聞稿）已修訂，規定公司將第一個截止日期（”第一個截止日期“) 在不少於三十 (30) 天通知供應商的前提下，首次截止日期應爲2024年7月28日或之前。由於公司認爲首次收盤對KWG和Magpie Mines的股東可能具有重要意義，因此當公司確定首次收盤日期時，公司打算在首次收盤日前至少21天發佈提前通知。
A majority of the special shares have the right to elect a majority of the Board of Directors of Magpie Mines. As a term of the Acquisition, following the First Closing Date metallurgical researcher and advisor Fouad Kamaleddine, Ph.D., and renowned exploration pioneer Peter H. Smith, Ph.D., will continue their incumbency as the directors of Magpie Mines at the pleasure of the Company to supervise the management of the business and affairs of Magpie Mines, including with respect to the activities of the Operator or a new Operator to be appointed, on development of the four known deposits and on development of the metallurgy for recovering the ultra-high-strength strategically critical minerals hosted in the deposits. The four deposits are contained within one project located approximately 130 km north-northwest of Havre St. Pierre in the North Shore area of the St. Lawrence River in the Province of Quebec. Rio Tinto's Lac Tio Mine is in the same general area, being approximately 43 kilometers northeast of Havre St. Pierre in Quebec.
大部分特別股有權選舉Magpie Mines董事會的多數成員。作爲本次收購的期限，繼第一個截止日期之後，冶金研究員兼顧問福阿德·卡瑪萊丁博士和著名的勘探先驅彼得·史密斯博士將繼續擔任喜鵲礦業的董事，負責監督喜鵲礦業的業務和事務的管理，包括運營商的活動或即將任命的新運營商在四家已知公司的發展方面的活動沉積物以及用於回收超高強度的冶金技術的發展礦牀中儲存的具有戰略意義的關鍵礦物。這四個礦牀位於魁北克省聖勞倫斯河北岸地區阿弗爾聖皮埃爾西北偏北約130公里處的一個項目中。力拓的Lac Tio礦位於同一區域，位於魁北克阿弗爾聖皮埃爾東北約43公里處。
Drs. Smith and Kamaleddine (each a "Vendor") have each agreed to exchange their Magpie Mines special shares for consideration payable in two parts. Initially on the First Closing Date, KWG will pay $1,000,000 to each Vendor payable, at the option of each Vendor, in (a) convertible debentures having a maturity date (the "Maturity Date") of the earlier of (i) five (5) years after the First Closing Date and (ii) the date of completion of a Change of Control of KWG, bearing interest on the unpaid principal at the rate of 5% per annum with interest payable annually at KWG's option in cash or units at a value of $3.00 per unit (each unit (a "Unit") being comprised of one multiple voting share in the capital of the Company (each a "MVS") and one warrant to acquire an additional MVS for $3.50 on or before the Maturity Date), payable (principal plus interest) in cash by the Company at any time after the first anniversary of the First Closing Date on 30 days' notice and convertible (interest and principal) in whole or in part into Units at a rate of $3.00 per Unit (i) at any time at the option of the holder prior to payment in cash or (ii) at the option of KWG on or after the first anniversary of the First Closing Date or completion of a Change of Control of KWG; (b) 333,333 Units of the Company, or (c) conditional on KWG obtaining consent from Fancamp Exploration Ltd. ("Fancamp") for the creation of Series A Special Shares in the authorized capital of KWG, 333,333 Series A Special Shares of KWG (each a "Series A Special Share") issued at $3.00 per share, each Series A Special Share having a redemption price of $3.00 per share, such redemption price payable in cash or in Units, with the holder being entitled to require KWG to redeem the Series A Special Shares for Units at any time prior to payment in cash, and KWG being able to redeem the Series A Special Shares for cash at any time on 30 days' notice or for Units at any time after the first anniversary of the First Closing Date and KWG being required to redeem the Series A Special Shares for cash or Units on the earlier of (i) five years after the First Closing Date or (ii) the date of completion of a Change of Control of KWG. For these purposes, a Change of Control will occur on completion of a take-over bid or a merger, amalgamation, arrangement or other form of business combination as a result of which the shareholders of the Company immediately prior to such take-over bid or business combination do not own a majority of votes attaching to the voting securities of the Company or of the resulting issuer or do not have the power to elect a majority of the directors of the Company or of the resulting issuer, as the case may be, after completion of such bid or business combination.
Smith博士和Kamaleddine博士（均爲 “賣方”）已同意將其Magpie Mines的特殊股份交換爲分兩部分支付的對價。KWG最初將在第一個截止日向每位供應商支付1,000,000美元，由每位賣方選擇支付 (a) 可轉換債券，其到期日（“到期日”）爲 (i) 第一次截止日後五 (5) 年和 (ii) KWG控制權變更完成之日，未付本金的利息按每年 5% 的利率計息，加上利息，以年利率 5% 爲準每年由KWG選擇以現金或單位支付，單位價值爲每單位（“單位”）3.00美元，由資本中的一股多重表決權股份組成公司（均爲 “MVS”）和一份在到期日當天或之前以3.50美元的價格額外收購MVS的認股權證），公司在第一個截止日一週年之後的任何時候以現金支付（本金加利息），並在持有人之前隨時選擇按每單位3.00美元（i）的利率全部或部分兌換（利息和本金）爲單位在KWG首次截止日期或控制權變更完成一週年之日或之後以現金或 (ii) 由KWG選擇付款；(b) 333,333本公司的單位，或 (c) 以每股3.00美元發行的333,333股KWG的A系列特別股票（均爲 “A系列特別股”）獲得Fancamp Exploration Ltd.（“Fancamp”）的同意爲條件，每股A系列特別股的贖回價格爲每股3.00美元，該贖回價格應以每股3.00美元的價格支付現金或單位形式，持有人有權要求KWG在以現金付款之前隨時將A系列特殊股份兌換爲單位，而KWG能夠在提前30天通知後隨時將A系列特別股兌換爲現金，或在首次截止日一週年之後的任何時候將A系列特別股兌換爲單位，KWG必須在（i）首次截止日期後五年或（ii）KWG控制權變更完成之日將A系列特別股兌換成現金或單位，以較早者爲準。出於這些目的，控制權變更將在收購要約或合併、合併、安排或其他形式的業務合併完成後發生，在此種收購要約或業務合併之前，公司的股東不擁有與公司或由此產生的發行人有表決權證券相關的多數選票，或者無權選舉公司或公司的大多數董事在完成此類投標或業務合併後，視情況而定，由此產生的發行人。
Each of the Vendors has also agreed to continue as a director of Magpie Mines at the pleasure of the Company. In the event that the Company does not acquire direct or indirect ownership of a majority of the common shares of Magpie Mines within one year after the First Closing Date of the Acquisition, each of the Vendors has retained the right to tender the consideration received by the Vendor on the First Closing Date back to the Company within 30 days after such one-year anniversary in exchange for his special shares of Magpie Mines.
兩家供應商還同意繼續擔任Magpie Mines的董事，這讓公司感到高興。如果公司在收購的第一個截止日期後的一年內沒有收購Magpie Mines大部分普通股的直接或間接所有權，則每家供應商均保留在第一截止日起的30天內將賣方在第一個截止日收到的對價向公司投標的權利，以換取其在Magpie Mines的特殊股份。
In the event that the Company is able to complete the acquisition of all of the common shares of Magpie Mines and the 2% royalty held by Fancamp on Magpie's project (the "Magpie Royalty") or is able to complete a business combination with or the acquisition of the shares of Fancamp (and, accordingly, indirectly acquire a majority of the common shares of Magpie Mines), in each case on terms and conditions satisfactory to the Company, the Company's agreement with the Vendors provides for a second closing (the "Second Closing") of the Acquisition in which the Company will pay an additional $4,000,000 to each of the Vendors (the "Additional Payment") payable, at the option of each of the Vendors, in (i) convertible debentures of the Company, (ii) units issued by the Company comprised of MVS and warrants or (iii) Series B Special Shares, in each case having substantially the same terms as those available on the First Closing Date but adjusted to reflect the then current trading price of the MVS of the Company. In addition, the Company will transfer the Magpie Royalty or cause it to be transferred on terms which will result in one quarter of the Royalty being held by each Vendor and one half of the Royalty being held by the Innu of Ekuanitshit First Nation.
如果公司能夠完成對Magpie Mines所有普通股的收購以及Fancamp在Magpie項目中持有的2％特許權使用費（“Magpie Royalty”），或者能夠完成與Fancamp的業務合併或股份的收購（並相應地間接收購Magpie Mines的大部分普通股），則在每種情況下，均以公司滿意的條款和條件完成與Fancampe的業務合併或股份的收購（並相應地間接收購Magpie Mines的大部分普通股）, 公司與賣方達成的協議規定了第二次收購 (“第二次成交”), 在該收購中, 公司將向每位供應商額外支付4,000,000美元（“額外付款”），由每位供應商選擇，以 (i) 公司的可轉換債券、(ii) 公司發行的由MVS和認股權證組成的單位或 (iii) B系列特別股的條款基本相同，但經調整以反映當時MVS的交易價格公司的 VS。此外，公司將轉讓Magpie特許權使用費或使其按以下條件進行轉讓：四分之一的特許權使用費由每個供應商持有，一半的特許權使用費由Ekuanitshit First Nation的Innu持有。
In the event that the Company does not acquire direct or indirect ownership of a majority of the common shares of Magpie Mines within five (5) years after the date of the agreement for the Acquisition and, accordingly, a Second Closing has not occurred, each of the Vendors has retained the right to tender the consideration received by the Vendor on the First Closing Date back to the Company within 30 days prior to such five-year anniversary in exchange for his special shares of Magpie Mines (each a "Put Right"). In the event that the Company has not completed a direct or indirect acquisition of a majority of the common shares of Magpie Mines prior to such five-year anniversary and the Vendors do not exercise their Put Rights, the Company will retain ownership of the special shares of Magpie Mines without having the obligation to pay the Additional Payments to the Vendors.
如果公司在收購協議簽訂之日起五（5）年內未收購Magpie Mines大部分普通股的直接或間接所有權，因此沒有進行第二次成交，則每家供應商均保留在五年週年紀念日之前的30天內將賣方在第一個收盤日收到的對價向公司投標的權利，以換取其在Magpie Mines的特殊股份（每家 a “向右放置”）。如果公司在這五週年紀念日之前沒有完成對Magpie Mines大部分普通股的直接或間接收購，並且供應商沒有行使看跌權，則公司將保留Magpie Mines特殊股份的所有權，而沒有義務向供應商支付額外款項。
All of the securities to be issued pursuant to the Acquisition or the warrants are subject to a four (4) month hold period from the date of issuance of the Units.
根據收購或認股權證發行的所有證券自單位發行之日起有四（4）個月的持有期。
About The Canadian Chrome Company:
KWG, which carries on business as The Canadian Chrome Company, is the owner of 100% of the Black Horse chromite project (formerly part of Fancamp's "Koper Lake-McFaulds" properties) in which Bold Ventures Inc. is carried through exploration of the former Fancamp claims for 10% of the chromite project. KWG also holds other area interests including a 100% interest in the Hornby claims, a 15% vested interest in the McFaulds copper/zinc project and a vested 30% interest in the Big Daddy chromite project. KWG also owns 100% of Canada Chrome Corporation ("CCCorp") which staked mining claims between Aroland, Ontario (near Nakina) and the Ring of Fire. CCCorp has conducted a surveying and soil testing program to assess the prospects for the engineering and construction of a railroad along that route between the Ring of Fire and Aroland, Ontario covering the claims staked by CCCorp. CCCorp engaged Cormorant Utilities and Rail-Veyor Technologies for Engineering Proposals for the construction of a transportation and utility corridor within the route and has received those proposals. KWG has also acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP has acquired two chromite-refining patents in Canada and one in each of the USA, South Africa and Kazakhstan, and is prosecuting an application in Turkey.
關於加拿大Chrome公司：
KWG以加拿大鍍鉻公司的名義開展業務，是黑馬鉻礦項目（以前是Fancamp “Koper Lake-McFaulds” 房產的一部分）100％的所有者，在該項目中，Bold Ventures Inc.正在對前Fancamp索賠的鉻礦項目10％股份進行勘探。KWG還持有其他地區權益，包括霍恩披索賠的100％權益，麥克福爾德銅鋅項目15％的既得權益以及Big Daddy鉻礦項目30％的既得權益。KWG還擁有加拿大Chrome公司（“CCCorp”）100％的股份，該公司在安大略省阿羅蘭（納基納附近）和火環之間提出採礦索賠。CCCorp開展了一項調查和土壤測試計劃，以評估火環和安大略省阿羅蘭之間的鐵路沿線的工程和建設前景，該鐵路涵蓋了CCCorp提出的索賠。CCCorp聘請了Cormorant Utilities和Rail-Veyor Technologies爲該路線內建造交通和公用事業走廊的工程提案，並已收到這些提案。KWG還收購了知識產權，包括一種使用天然氣將鉻鐵礦直接還原爲金屬化鐵和鉻的方法。KWG子公司Muketi Metallurgical LP已在加拿大獲得兩項鉻酸鹽提煉專利，在美國、南非和哈薩克斯坦各獲得一項專利，並正在土耳其起訴一項申請。
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ info@canadachrome.com
欲了解更多信息，請聯繫：
布魯斯·霍奇曼，副總裁：416-642-3575 ~ info@canadachrome.com
Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and KWG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
前瞻性陳述： 本新聞稿中列出的信息可能涉及適用證券法規定的前瞻性陳述。本警示聲明對本文中包含的前瞻性陳述進行了明確的全面限定。本文件中包含的前瞻性陳述自本文件發佈之日起作出，除非適用的證券立法明確要求，否則KWG不打算或沒有義務更新或修改任何前瞻性陳述，無論是由於新信息、未來事件還是其他原因。儘管管理層認爲此類前瞻性陳述中所代表的預期是合理的，但無法保證此類預期會被證明是正確的。
Disclaimer: Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
免責聲明： 加拿大證券交易所及其監管服務提供商（該術語在CSE的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
To view the source version of this press release, please visit
要查看本新聞稿的源版本，請訪問
譯文內容由第三人軟體翻譯。