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

Published 2019-07-08, 07:08 a/m
Updated 2019-07-08, 07:10 a/m
© Reuters.  BRIEF-Canadian Metals Signs Agreement To Acquire FeTiV Minerals' Interest On 5 Iron Projects In Quebec, And Appoints Gérald Panneton As CEO

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

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