In connection with the acquisition by Canada Strategic Metals Inc. of an interest of up to 70% in the 120 claims including the Sakami property located in the James Bay region of Quebec.
In order to acquire an initial 50% interest, the company must issue two million common shares (one million within the first year) and carry out exploration work in the value of $2.25 million before August 16, 2016 ($500,000 within the first year). Within 180 days of acquiring the original 50% interest, the company may acquire the remaining 20% interest by issuing an additional 1 million common shares and completing an independent bankable feasibility study within 5 years of the date of the share issuance. During the period that the additional option is valid, the Company must spend a minimum of $2-million on exploration by the end of each year until the feasibility study is completed. In the event where the company renounces its option, the unspent portion of the $500,000 minimum in exploration expenses shall be paid in cash or in shares, at the sole discretion of the company. (Refer to August 19, 2013 press release at: http://www.canadastrategicmetals.com/en/investors/news-releases/canada-strategic-metals-and-matamec-announce-agreement-for-sakami-gold-project).
Jean-Sebastien Lavallee (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
The Company also announced that they settle $43,718.46 in outstanding indebtedness through the issuance to a creditor of 814,369 common shares at a price of $ 0.05 per share.
About Matamec Explorations
Matamec Explorations Inc. is a mining exploration company whose focus is developing the Kipawa HREE deposit with TRECan, with the goal of supplying Toyota with HREEs for the production of hybrid and electric cars. The company is exploring 35km of strike length in the Kipawa Alkalic complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property. Matamec is also exploring for gold at its Matheson joint-venture property, which is located along strike and in close proximity to the Hoyle Pond mine in Timmins, Ontario. In Quebec, the company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. For more information, please visit www.matamec.com.
About Canada Strategic Metals
Canada Strategic Metals is an emerging growth company focused on the exploration and development of its early stage projects covering over 60,000 hectares throughout Quebec. With management experience in green technology, and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
responsibility for the adequacy or accuracy of this release.
Jean-Sebastien Lavallee, P. Geo
President & Chief Executive Officer
(514) 904-1597 (FAX)
Paradox Public Relations
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- General Motors Names Mary Barra as First Female CEO
- AIG to Create 230 Jobs in Charlotte
- Bitcoin Clones Lurch Onto Financial Scene
- Russia Says Nyet to Canada North Pole Claim
- Scripps Shares Rise on Reported Bid Talks
- Budget Deal Sets Off Grumbles in Both Houses
- Bipartisan Negotiators Reach Modest Budget Agreement
- Californians Want to Legalize Marijuana
- Health Care Signups Picked up Pace in November