Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the “ Company ” or “ Canada Silver Cobalt ”) announces that the Company has expanded its holdings between Sangster and Potter Townships in the Cochrane District, Ontario by staking 799.8 hectares in 38 new claims contiguous to the Sangster Claim Block for a total holding of 111 claims over 2,337 hectares in cooperation with the original property optionor (see company News Release of November 9, 2022). The newly staked claims are 100% held by Canada Silver Cobalt Works.
Highlights
The new staking brings the total St-Denis project area to 26,373 hectares (including 24,036 hectares in the St-Denis Main block and 2,337 hectares in the Sangster block) and is one of the largest land holdings in the emerging Case Lake LCT (lithium-cesium-tantalum) pegmatite district of Northeastern Ontario. The property is strategically positioned over an ideal geological environment for pegmatite mineralization, as demonstrated by a number of observations of pegmatite in outcrop and drill core in the historic assessment work files and government mapping. The Project is supported by year-round ease of access, proximity to services and suppliers in the mining communities of Timmins and Cochrane, and location along strike to a known LCT (lithium-cesium-tantalum) pegmatite occurrence (Case Lake LCT pegmatite swarm).
Property Highlights
The Sangster claim block is a separate portion of the greater St-Denis LCT pegmatite project east and northeast of Cochrane, Ontario. The Sangster block is located 38 km northeast of the town of Cochrane and is road accessible year-round by logging roads from the main Detour Lake Mine Road. The St-Denis Main block is road accessible via Translimit Road from Cochrane. See Figure 1 for the location of the Project.
The Sangster claim block is situated over the northwestern contact between the Case Lake evolved S-Type granite and Archean metasedimentary and metavolcanic rocks (and associated gneisses) of the Porcupine Assemblage. The Sangster block is located 62 kilometers northwest of the Case Lake lithium-cesium pegmatite swarm (claims currently held by Power Metals Corp., “Power Metals”). Power Metals has identified significant lithium and cesium grades in spodumene and pollucite rich pegmatites at the West Joe Dyke and Main Dyke areas, including 1.58 % Li 2 O (lithium oxide) over 15.0 m in drill hole PWM-22-134 (see Power Metals Corp News Release September 8, 2022) and 6.74% Cs 2 O over 5.0 m, 11.0 to 16.0 m in drill hole PWM-18-126. Canada Silver Cobalt’s Sangster claim block covers a similar geological environment to that of Power Metals’ Case Lake lithium- cesium property, and the St-Denis Main block covers ground west along strike of the Case Lake property.
The Company has performed extensive research, data review, and data compilation and has been successful in gathering a number of historic assessment work reports and government records of geological data and exploration activity in the area. These new claims at the Sangster claim block were staked as a direct result of this data review, as Company geologists found references to pegmatites in outcrop in a geologic map produced by Noranda Exploration Inc. in 1995 (Ontario Assessment File Record 42H07SE0003). The pegmatites mapped by Noranda geologists were not well described and there is little information about their mineralogy, so their significance may have been over-looked as Noranda Exploration’s focus at the time was on base metals. In addition to the pegmatite occurrences, Noranda interpreted an area approximately 1km in strike length by 130m width as “pegmatite” in their compilation map. Company geologists are encouraged by these findings and this area will be a focus of Canada Silver Cobalt’s on-going work.
Canada Silver Cobalt’s next steps at the Sangster block will be to ground truth, map, and sample the pegmatite outcrops identified by Noranda in order to evaluate the area for its lithium-cesium mineralization potential. The Company is excited for the snow to melt so that our geologists can visit the property to see the characteristics of the outcrops and test that expanse for potential lithium-cesium mineralization.
Figure 1 . Location of the St-Denis Project and Sangster claim block.
Figure 2 . Location of expanded claim staking by Canada Silver Cobalt Works.
Figure 3 . Geologic environment of the Sangster claim block.
Qualified person
The technical information in this news release was approved and prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., a qualified person accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring. (3) lithium property – 230 square kilometers of greenfield exploration ground focussed along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous to Power Metals’ Case Lake Lithium properties.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com .
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
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 release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company’s Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company’s profile on SEDAR at www.sedar.com.
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January 19, 2024 TheNewswire - Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that further to its news release dated January 4, 2024, the TSX Venture Exchange has accepted the name change to " Nord Precious Metals Mining Inc. ".
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Coquitlam, BCCanada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt is pleased to announce that shareholders at the Annual and General Meeting held on October 31, 2023 voted in favour to change the Company's name to "Nord Precious Metals Mining Inc". The new name will better reflect the direction of the Company. The name change is subject to TSX Venture Exchange ("Exchange") approval.
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New discoveries of precious and battery metals and progress towards surfacing value for shareholders through a spinout of a potentially large nickel-copper-cobalt property in Quebec
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The property has many yet-to-be-drilled targets and prospective electromagnetic anomalies identified by an airborne geophysical survey.
Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the " Company " or " Canada Silver Cobalt ") is pleased to announce that it has commenced drilling at its Lowney-Lac Edouard property as part of the first phase of an exploration program targeting prospective areas identified previously in an airborne geophysical survey
The drilling is being conducted in the center and southern part of the 7,237-hectare property in areas where five electromagnetic anomalies were identified by a Geotech VTEM airborne geophysical survey conducted for Canada Silver Cobalt (see news releases May 24, 2022 and August 29, 2022).
The Lowney-Lac Edouard property is south of the past-producing nickel-copper Lac Edouard Mine and right next to a property where Rio Tinto, in a 2023 drilling program in the Savane area of a Midland Exploration Inc. property, discovered high-grade nickel with copper. Midland reported in an April 27, 2023 news release that Hole MDLD0001, drilled by Rio Tinto, intersected an interval grading 1.07% Ni and 0.13% Cu over 0.78 metres, from 101.87 to 102.65 metres. Midland also reported that grab samples taken by prospectors in the Savane area in 1995 yielded historical values of 1.80% Ni and 0.20% Cu. Another grab sample from a sub-cropping boulder also yielded grades of 1.98% Ni and 0.46% Cu about 250 metres north of the Savane showing (Source: SIGEOM NTS sheet 31P07; GM55352). This may not be representative of the mineralisation of Lowney-Lac Edouard.
The area, which has good road access and infrastructure, is near La Tuque in Central Quebec and is located north of the port of Trois Rivieres and approximately 100 km northwest of Quebec City. (See maps below.)
"We are excited to be following up on what we found in the VTEM geophysical survey. We had to limit our exploration activity this past summer due to forest fires in Quebec but now is the time to catch up and we are looking forward to seeing this property develop further," said Frank J. Basa, Chief Executive Officer.
The first phase is expected to involve 1,500 metres of drilling and the second phase, planned for 2024, dependent on drill results from the first phase, could include the testing of additional targets. The Company has engaged Laurentia Exploration, Multi Drilling Services and GoldMinds Geoservices for this campaign. Drilling in this first phase is limited to targets near existing logging roads where permits allow and the Company is awaiting permits needed for drilling in other areas of the property.
The Lowney-Lac Edouard property is one of 14 critical metals properties in Quebec acquired in late 2020 by Canada Silver Cobalt targeting nickel, copper, and cobalt mineralization in preparation for the significantly increased demand for the metals expected for the ongoing electrification programs planned by governments. (See news releases February 16 and April 20, 2021 and August 29, 2022 for descriptions of the Lowney-Lac Edouard property).
One of the 14 Quebec properties – the Graal property, where the Company drilled extensively and successfully in 2021 and 2022 – has been shown to have potentially a large area of near-surface, high-grade nickel-copper mineralization with cobalt byproduct and showings of platinum and palladium in a 6 km strike length as well as in other areas of the property. The Graal property is characterized by a large Bouguer gravity anomaly as is the case with Lowney-Lac Edouard. The Company plans to spin out the Graal Property into a new Company called Coniagas Battery Metals Inc. (See news release September 26, 2023.)
Note that the Figure 2 map below is updated to November 20, 2023 and the Figure 3 map is from March 2022.
Figure 1: Location of the Lowney-Lac Edouard and recently acquired Lac Guay properties
Click Image To View Full Size
Figure 2: Lowney-Lac Edouard property mineral claims
Click Image To View Full Size
Figure 3: Location of the Lowney-Lac Edouard property with adjacent properties
Click Image To View Full Size
Figure 4: Planned drill locations at Lowney-Lac Edouard South
Click Image To View Full Size
Qualified person
The technical information in this news release has been provided by Laurentia technical team and the content was reviewed and approved by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a m ember of Québec Order of Engineers and an independent qualified person in accordance with National Instrument 43- 101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 16,000-metre drill program on the Graal property; (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario; and (3) the St. Denis-Sangster lithium project – 260 square kilometers of greenfield exploration ground with numerous pegmatites focussed along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous to Power Metals' Case Lake Lithium properties.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com .
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-Looking Statements
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 release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. Canada Silver Cobalt Works Inc. does not undertake, and assumes no obligation, to update or revise, any such forward-looking statements or forward-looking information contained herein or in other communications to reflect new events or circumstances, except as may be required by law.
Copyright (c) 2023 TheNewswire - All rights reserved.
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Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the " Company " or " Canada Silver Cobalt ") announces that it is proposing to amend the terms of an aggregate 23,380,092 outstanding common share purchase warrants ("Warrants") by amending the exercise price to $0.06 per share
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/NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
SC2 Inc. (" SC2 ") is pleased to announce an offer (the " Offer ") to purchase up to 21,621,621 common shares of Sherritt International Corporation (TSX: S) (" Sherritt ") at a price of $0.37 per common share (the " Purchase Price "), payable in cash.
The Purchase Price is equal to an approximate 19.4% premium to the closing price of the common shares on the Toronto Stock Exchange (the " TSX ") on April 8, 2024 (being the previous trading day to the date of announcement of the Offer) and an approximate 27.6% premium to the volume-weighted average trading price of the common shares on the TSX for the 30 trading days prior to the announcement of the Offer.
The Offer is for up to 21,621,621 of the outstanding common shares of Sherritt. The Offer is open for acceptance until 5:00 p.m. ( Calgary time) on Friday, May 10, 2024 (the " Expiry Time "), unless the Offer is extended, varied or withdrawn.
SC2 has posted at www.sedarplus.ca , under Sherritt's profile, a letter to shareholders setting out more information pertaining to the Offer as well as a letter of transmittal (the " Letter of Transmittal ") to be used to accept the Offer (collectively, the " Letters "). Please also see "Details of the Offer" below.
The Offer is being made to registered and beneficial shareholders of Sherritt in each of the provinces and territories of Canada , except Québec. We may announce that we are expanding the Offer to other jurisdictions, such as Québec, in a subsequent news release.
REASONS FOR THE OFFER
SC2 is making the Offer following recent engagements with management and the board of Sherritt. SC2 encourages shareholders to consider the following factors, among others, when making the decision to accept the Offer:
DETAILS OF THE OFFER
The Offer is open for acceptance until 5:00 p.m. ( Calgary time) on Friday, May 10, 2024 , provided however that SC2 reserves the right, in its sole and absolute discretion at any time, to: (i) extend or vary the Offer at any time; or (ii) withdraw the Offer if the conditions thereto are not met, and if withdrawn, it will not be required to take up or pay for common shares delivered pursuant to the Offer.
If the Offer is withdrawn by SC2, SC2 shall cause all common shares delivered pursuant to the Offer to be returned to the shareholders. Full details of the Offer are included in the Letters, including complete instructions for the tendering and delivery of common shares to SC2. In order to deposit their common shares to the Offer, registered shareholders must complete the documentation as set out in the Letter of Transmittal and beneficial shareholders must follow the instructions provided by their investment dealer, broker or other nominee. Investment dealers, brokers and other nominees may set a deadline for the delivery of deposit instructions that is earlier than the Expiry Time, and as such shareholders should contact their investment dealer, broker or other nominee for assistance at their earliest convenience. Deposited common shares may be withdrawn at any time prior to the time they are taken up by SC2.
The Offer will be subject to certain conditions set out in the Letters which, unless waived, must be satisfied. The Letters will require that each depositing shareholder whose common shares are taken up and paid for appoint representatives of SC2 as its nominees and proxy for any upcoming shareholders' meeting.
If more than the maximum number of common shares for which the Offer is made are delivered in accordance with the Offer and not withdrawn at the time of take up of the common shares, the common shares to be purchased from each depositing shareholder will be determined on a pro rata basis according to the number of common shares delivered by each shareholder, disregarding fractions, by rounding down to the nearest whole number of common shares.
If you have any questions with respect to the Offer, or need assistance in depositing your common shares, please contact the Depositary and Information Agent for the Offer: North America Toll Free Number: 1-833-684-1546; Outside North America Call Collect: 1-587-774-2340; Email: cssinquiries@olympiatrust.com .
ADDITIONAL INFORMATION
SC2 is relying on the exemption under section 9.2(4) of National Instrument 51‐102 ‐ Continuous Disclosure Obligations to make this public broadcast solicitation. The following information is provided in accordance with corporate and securities laws applicable to public broadcast solicitations.
This solicitation is being made by SC2, and not by or on behalf of the management of Sherritt. Olympia Trust Company will receive a fee of $5 ,000 for its services as Depositary and Information Agent under the Offer plus ancillary payments and disbursements. Based upon publicly available information, Sherritt's registered office and head office is at Bay Adelaide Centre, East Tower 22 Adelaide Street West, Suite 4220 Toronto, ON M5H 4E3. SC2 is soliciting proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including press release, speech or publication, and by any other manner permitted under applicable Canadian laws. In addition, this solicitation may be made by mail, telephone, facsimile, email or other electronic means as well as by newspaper or other media advertising and in person by employees of SC2. All costs incurred for the solicitation will be borne by SC2.
A registered shareholder who has given a proxy under the terms of the Letter of Transmittal may, prior to its common shares being taken up and paid for under the Offer, in accordance with Section 148(4) of the Canada Business Corporations Act , revoke the proxy (i) by depositing an instrument or act in writing executed either: * at the registered office of Sherritt at any time up to and including the last business day preceding the day of the meeting, or an adjournment thereof, at which the proxy is to be used, or (y) with the chairman of the meeting on the day of the meeting or an adjournment thereof; or (ii) in any other manner permitted by law. A non‐registered shareholder may revoke a form of proxy or voting instruction form given to an intermediary at any time by written notice to the intermediary in accordance with the instructions given to the non-registered shareholder by its intermediary. Non-registered shareholders should contact their broker for assistance in ensuring that forms of proxies or voting instructions previously given to an intermediary are properly revoked. None of SC2 and its directors and officers, or, to the knowledge of SC2, any associates or affiliates of the foregoing, has any material interest, direct or indirect, in any transaction since the commencement of Sherritt's most recently completed financial year, or in any proposed transaction which has materially affected or will materially affect Sherritt or any of its subsidiaries. None of SC2 or, to its knowledge, any of its associates or affiliates, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at any upcoming shareholders' meeting, other than as set out herein and in the Letters. In accordance with the bylaws of Sherritt, Seablinc Canada Inc. (an affiliate of SC2) has nominated Mark Plamondon for election as a director of Sherritt at the annual meeting of shareholders of Sherritt to be held on May 9, 2024 .
The Offer is not a formal or exempt takeover bid under applicable Canadian securities laws and regulations.
SC2 ADVISORS
SC2 has engaged Olympia Trust Company as Depositary and Information Agent and MLT Aikins LLP as legal advisor.
ABOUT SC2
SC2 is a limited company that was incorporated under the laws of the Province of Alberta by a concerned shareholder of Sherritt, for the specific purpose of making the Offer.
SHAREHOLDER QUESTIONS
Shareholder with questions or who need assistance tendering their common shares can contact the Depositary and Information Agent:
Olympia Trust Company
North America Toll Free : 1-833-684-1546
Collect Calls outside North America : 1-587-774-2340
Email: cssinquiries@olympiatrust.com
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release, including statements regarding taking up and paying for common shares deposited under the Offer contain "forward-looking statements" and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as "plans", "expects", "intends", "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Although SC2 believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting Sherritt's operations will continue substantially in the current state, including, without limitation, with respect to industry conditions, general levels of economic activity, continuity and availability of personnel and third party service providers, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, and taxes, and that there will be no unplanned material changes to Sherritt's facilities, operations and customer and employee relations. SC2 cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of SC2 and there is no assurance that they will prove correct. Important factors that could cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements include, among other things, actions taken by Sherritt in respect of the Offer, the failure to satisfy the conditions of the Offer, industry risk and other risks inherent in the running of the business of Sherritt, foreign currency exchange rates and interest rates, general economic conditions, legislative or regulatory changes, changes in income tax laws, and changes in capital or securities markets. These are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of SC2's forward-looking statements. Other unknown and unpredictable factors could also impact its results. Many of these risks and uncertainties relate to factors beyond SC2's ability to control or estimate precisely. Consequently, there can be no assurance that the actual results or developments anticipated by SC2 will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, SC2 or Sherritt and their respective future results and performance. Forward-looking statements in this press release are based on SC2's beliefs and opinions at the time the statements are made, and there should be no expectation that these forward- looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and SC2 disavows and disclaims any obligation to do so, except as required by applicable law.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OR SOLICITATION TO PURCHASE SECURITIES IN ANY JURISDICTION IN WHICH, OR TO OR FROM ANY PERSON TO OR FROM WHOM, IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION UNDER APPLICABLE SECURITIES OR OTHER LAWS. THE OFFER IS BEING MADE SOLELY PURSUANT TO THE LETTERS, WHICH SET FORTH THE COMPLETE TERMS OF THE OFFER THAT SHAREHOLDERS SHOULD CAREFULLY READ PRIOR TO MAKING ANY DECISION.
SOURCE SC2 Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2024/08/c0509.html
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its first quarter 2024 results after market close on May 8, 2024. Senior management will host a conference call and webcast on May 9, 2024 at 10:00 am ET to review Sherritt's first quarter 2024 financial and operational performance.
Dial-in and Webcast Details: | |||
North America dial-in number: | 1 (800) 717-1738 Passcode: 00402 | ||
International dial-in number: | 1 (289) 514-5100 Passcode: 00402 | ||
Webcast and slide presentation: |
Please dial in 15 minutes before the start of the conference to secure a line and avoid delays. Alternatively, listeners will be able to access the conference call via the webcast available on Sherritt's website.
A copy of the webcast and replay of the conference call will be available on the website following the presentation.
About Sherritt International
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has a current estimated mine life of 25 years and has embarked on an expansion program focused on increasing annual mixed sulphide precipitate production by approximately 20% of contained nickel and cobalt (100% basis). The Corporation's Power division, through its ownership in Energas S.A., is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".
View source version on businesswire.com: https://www.businesswire.com/news/home/20240408926222/en/
For further information:
Tom Halton
Director, Investor Relations and Corporate Affairs
Email: investor@sherritt.com
Telephone: (416) 935-2451
www.sherritt.com
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) is pleased to announce the appointments of Louise Blais and Steven H. Goldman to its Board of Directors effective immediately. The appointments of Ms. Blais and Mr. Goldman are in accordance with Sherritt's Board succession planning with the retirements of Maryse Belanger and John Warwick, both of whom are not seeking re-election at the Corporation's 2024 Annual General Meeting ("AGM"). Ms. Belanger will be retiring from the Board as of today and Mr. Warwick will be retiring from the Board at the AGM on May 9, 2024.
Sir Richard Lapthorne, Chair of Sherritt's Board of Directors commented, "We are delighted to welcome Louise and Steven to our Board of Directors. Louise's 25 years of experience as a senior diplomat have cultivated strong government relationships in Canada and internationally which will be invaluable to Sherritt. Her government experience working in North America and in other markets of interest to Sherritt align well with our strategic objectives. Steven brings a differentiated blend of business and legal acumen to the Board as well as extensive experience fostering new avenues for companies to achieve success. His insights will be instrumental to Sherritt as our planned future growth ultimately enables us to consider new markets and strategies."
Sir Richard Lapthorne continued, "Additionally, I would like to extend my gratitude to both Maryse and John for their extensive contributions and tireless commitment."
Louise Blais was Canada's Ambassador and Deputy Permanent Representative to the United Nations in New York from 2017 to 2021. During this time, she also served as Vice President to UNICEF's Executive Board. As a senior diplomat, she served abroad in Washington and Tokyo and as Minister-Counsellor for Political Affairs at the Embassy in Paris. In 2014 she was appointed Consul General of Canada in Atlanta, covering North Carolina, South Carolina, Tennessee, Georgia, Alabama and Mississippi. Ms. Blais is currently an Associate at the Pendleton Group and Special Senior Advisor, International Affairs, to the Business Council of Canada and the QG100 in Quebec. Ms. Blais holds a B.A. from McGill University.
Steven H. Goldman is a founding member of the Toronto law firm of Goldman Hine LLP which he retired from in January 2021. He is currently President, CEO and director of Comstock Metals Inc. and a director and audit committee member of Select Sands Corp. Mr. Goldman was formerly a director and audit committee member of Tribute Pharmaceuticals Inc. and a director of Allegro Health Corp. Mr. Goldman received his B.A. (President's Medal) from Carleton University and his JD from Queen's University.
About Sherritt International
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has a current estimated mine life of 25 years and has embarked on an expansion program focused on increasing annual mixed sulphide precipitate production by approximately 20% of contained nickel and cobalt (100% basis). The Corporation's Power division, through its ownership in Energas S.A., is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".
View source version on businesswire.com: https://www.businesswire.com/news/home/20240321006688/en/
Tom Halton
Director, Investor Relations and Corporate Affairs
Email: investor@sherritt.com
Telephone: (416) 935-2451
www.sherritt.com
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International Cobalt Corp. (" International Cobalt " or the " Company ") advises that it has entered into a settlement agreement dated February 28, 2024, with Tantalex Lithium Resources Corp. (" Tantalex ") to settle an amount of CDN$5,324,275.30 owed to the Company (the " Settlement Agreement "). The Settlement Agreement stems from multiple unsecured convertible debentures in principal amounts of USD$2,100,000 and CDN$800,000 entered into between the parties in 2018 and in 2020 bearing an interest rate of 4% that became due in November of 2022 (the " Debt ").
Under the terms of the Settlement Agreement, the Debt was settled with an aggregate 106,485,506 common shares in the capital of Tantalex (the " Tantalex Shares ") issued at a price of CDN$0.05 per Tantalex Share and 50,000,000 common share purchase warrants (the " Tantalex Warrants "). Each Tantalex Warrant is exercisable by the Company to acquire 50,000,000 Tantalex Shares at a price of $0.10 for a period of thirty (30) months from issuance (the " Debt Settlement ").
As a result of the Debt Settlement, the Company became an insider of Tantalex. Prior to the transaction, the Company did not own any securities of Tantalex. After giving effect to the transaction, the Company owns, directly and indirectly, 106,485,506 Tantalex Shares, representing approximately 14.74% of the issued and outstanding common shares of Tantalex based on 718,645,821 issued and outstanding common shares of Tantalex and 20.29% of the issued and outstanding common shares of Tantalex on a partially diluted basis, based on 768,645,821 issued and outstanding common shares of Tantalex.
This news release is being issued pursuant to National Instrument 62-103, persons who wish to obtain a copy of the early warning reports filed by the Company in connection with this transaction herein may obtain a copy of such reports from www.sedarplus.ca or by contacting the person named below.
Forward-Looking Information
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the debt settlement and the completion thereof. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Readers are cautioned that the foregoing lists of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained in this news release or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
For more information, please contact:
Brendan Purdy, CEO
Email: info@denovogroup.ca
1-604-687-2038
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Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that on March 1, 2024, the Supreme Court of British Columbia issued its final order approving the Company's previously announced plan of arrangement (the "Arrangement") involving its wholly-owned subsidiary, Edison Cobalt Corp. ("Edison Cobalt"). For details regarding the Arrangement, see the news releases of the Company dated March 28, 2023, July 13, 2023, November 28, 2023, December 7, 2023, February 1, 2024 and February 27, 2024.
The Company will announce the share distribution record date and the exact number of Edison Cobalt shares issuable at a later date. The Arrangement remains subject to final acceptance by the TSX Venture Exchange ("TSXV").
Edison Cobalt has applied to list its shares on the TSXV, subject to Edison Cobalt meeting all listing requirements.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
"Nathan Rotstein"
Nathan Rotstein
Chief Executive Officer and Director
For more information please contact:
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward- looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law. Forward-looking statements in this press release relate to, among other things: the announcement of the share distribution record date, the determination of the amount of Edison Cobalt shares to be issued for each Company share and Edison Cobalt listing on the TSXV. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: TSX Venture Exchange approval to list the Edison Cobalt shares. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200249
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