MONTREAL, April 24, 2020 (GLOBE NEWSWIRE) -- Canadian Metals Inc. (“CME” or the “Company”) (CSE: CME) today reports that Mr. Stéphane Leblanc (“Mr. Leblanc”), an insider of the Corporation, has recently acquired beneficial ownership of common shares exceeding 10% of the outstanding common shares of the Company.
This reporting threshold was reached with the acquisition of 364,000 common shares in the capital of the Issuer, acquired in open market for investment purposes (the “Acquisition”). Mr. Leblanc reserves the right to purchase additional securities of the Company or from time to time to dispose of any securities of the Company that he may own.
Immediate after giving effect to the Acquisition, Mr. Leblanc owns or controls, directly or indirectly, 1,246,775 Shares representing approximately 8.64% of the outstanding shares of the Company and 10.76% of the outstanding shares on a partially diluted basis, assuming exercises of the options, warrants and debenture he so holds in the capital of the Company.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the Corporation’s profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters.
Mr. Leblanc has provided the above information to the Company for inclusion in this news release.
About Canadian Metals Inc.
Canadian Metals is a company focused on creating shareholder value through the development of its industrial silicon metal project in Quebec, Canada.
For more information, please contact:
Michel Gagnon
Chairman of the Board of Directors
Website: www.canadianmetalsinc.com
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.