TORONTO, Nov. 21, 2018 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE: CFE) (“Cartier Iron”), announces that in connection with its acquisition of the Big Easy Property, located in Newfoundland and Labrador (see Cartier Iron’s news release dated October 31, 2017), it has deferred a payment of $75,000 due to an arm’s length royalty holder until February 21, 2019, from the original due date of November 21, 2018. As consideration for this deferral, the arm’s length royalty holder is to receive 50,000 common shares of Cartier Iron at a deemed value of $0.095 per share.
All securities issued pursuant to the deferral will be subject to the applicable statutory four-month hold period.
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering and developing significant iron ore resources in Quebec, and a potentially significant gold property in the province of Newfoundland and Labrador. The Company's iron ore projects include the Gagnon Holdings in the southern Labrador Trough region of east-central Quebec. The Big Easy gold property is located in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland.
Please visit Cartier Iron's website at www.cartieriron.com.
For further information please contact:
| Thomas G. Larsen Chief Executive Officer (416) 360-8006 | Jorge Estepa Vice-President (416) 360-8006 |
The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release. Statements in this release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking statements”.