Cadillac Ventures Inc (CDC) 銘柄情報

Cadillac Ventures stakes 18 more claims at Burnt Hill

2021-08-24 09:50 ET - News Release


Mr. Norman Brewster reports

CADILLAC INCREASES SIZE OF THE "TIN HILL" MINERALIZED TIN, TUNGSTEN OCCURRENCE IN NEW BRUNSWICK

Cadillac Ventures Inc. has completed a geological prospecting program over the Tin Hill area of its Burnt Hill property in New Brunswick. The program investigated a 2.50-kilometre by 1.5-kilometre area centred on the exposed Tin Hill tin, tungsten mineralization. Within the area numerous new showings were located which demonstrated pervasive tin mineralization accompanied by tungsten. These findings significantly increase the domain of mineralization at Tin Hill. Samples were obtained at these locations and delivered to ALS in Moncton for analysis. Results will be released as they become available.

Due to the visual nature of the tin mineralization encountered in this program Cadillac has staked an additional 18 claims in order to fully encompass the now enlarged mineralized area and potential strike extensions.

Mineralization occurs in quartz veins ranging in size up to several metres wide, greisen zones and greise-encased quartz-filled fractures associated with what is believed to be the fluid enriched apical portion (Tin Hill) of a cupola associated with the Burnt Hill pluton. Efforts were made to locate the granite/sediment contact surrounding Tin Hill, all features outlined above along with associated mineralization occur within the contact area. Numerous samples of mineralized material and non-mineralized rock were acquired for thin section analysis and description for mineral and rock identification purposes, this work will be carried out by Martin Demers, geo.

About Burnt Hill

The Burnt Hill property, discovered in 1869 by the Geological Survey of Canada, covers 3,395 hectares of ground in central New Brunswick and hosts molybdenite, tungsten and tin mineralization. In addition to this Cadillac has carried out the first evaluation of the rare earth elements present at Burnt Hill. The Burnt Hill property encompasses several areas of interest, including the Burnt Hill mine, and has a large amount of unexplored but highly prospective ground. The Burnt Hill mine has a shaft and a decline in place and was operated to the pilot plant stage in the 1980s, where it was proven that the tungsten mineralization, at the time the only focus of operations, could be concentrated using photometric sorting technology, ahead of processing, to discard the waste rock.

Cadillac Commences Summer 2021 Exploration Program at Tin Hill Tin Tungsten Occurrence in Central New Brunswick

https://www.thenewswire.com/press-releases/1AlpF6d6Y-cadillac-commences-summer-2021-exploration-program-at-tin-hill-tin-tungsten-occurrence-in-central-new-brunswick.html

TORONTO, Ont. - TheNewswire - July 29, 2021 – Cadillac Ventures Inc. ("Cadillac" or the “Company”) (TSXV:CDC) Cadillac Ventures is pleased to advise shareholders that the Summer 2021 Prospecting Program on Cadillac’s Burnt Hill Property has commenced. This program will focus on the “Tin Hill” area of the property, approximately 3km N/NE of the Burnt Hill Mine area, where the hill has been previously stripped to expose a greisenised granite with stockwork quartz veining that hosts visible cassiterite (tin) and wolframite (tungsten), as pictured below. Also documented, by Cadillac and historically, is the presence of rare earth elements (REEs) in quartz veining.

Tin Hill Hand samples, visible Cassiterite


Click Image To View Full Size



Click Image To View Full Size


Previous work at Tin Hill, focused on the flanks of the Hill and prospecting for extension to the historically stripped area, uncovered several new instances of quartz veining carrying cassiterite, wolframite, bismuth, thorium and low levels of molybdenite. Previous work successfully found extensions of the vein systems and returned assays as high as 1.48% Sn in a grab sample from the “Two Trunks” vein and 1.8% W in a grab sample from the “Waterfall” vein (Burnt Hill Tungsten-Molybdenum-Tin Property, Stanley Parish, York County, New Brunswick prepared for Cadillac Ventures Inc. by Southampton Associates Inc. August 1, 2013). Grab samples are preferential in nature and not reflective of the entirety of the mineralized system at Tin Hill.


Click Image To View Full Size


The current program will revisit the areas of previous work and prospect for new mineralization, evaluating the mineralized system and in order to extend mineralization if successful. The mineralization at Tin Hill is believed to be part of a fracture related tin tungsten system associated with a pervasive hydrothermally altered region. This is occurring with an underlying granitic cupola.

The geological location map of Tin Hill included above is excerpted from H.E. MacLellan , R.P. Taylor and W.W. Gardiner , Mineral Resource Report 4 Geology and Geochemistry of Middle Devonian Burnthill Brook Granites and related Tin-Tungsten Deposits, York and Northumberland Counties , New Brunswick.


Technical information included in this press release has been approved by Norman E. Brewster P.Geo, President and CEO of Cadillac Ventures, in his capacity as a geologist. Images used are Mr. Brewster’s personal hand samples.

About Burnt Hill

The Burnt Hill Property, discovered in 1869 by the Geological Survey of Canada, covers 3,395 hectares of ground in central New Brunswick and hosts molybdenite, tungsten and tin mineralization. In addition to this Cadillac has carried out the first evaluation of the rare earth elements present at Burnt Hill. The Burnt Hill Property encompasses several areas of interest, including the Burnt Hill mine, and has a large amount of unexplored but highly prospective ground. The Burnt Hill mine has a decline in place and was operated to the pilot plant stage in the 1980’s, where it was proven that the tungsten mineralization, at the time the only focus of operations, could be concentrated using x-ray sorting technology, ahead of processing, to discard the white quartz waste rock.

Cautionary statement regarding forward–looking statements

This press release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "assumes", "potential" and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements and expectations. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on Cadillac’s respective expectations and considered reasonable at the time they were made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in Cadillac's respective public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Unless required by law, Cadillac does not intend to, or assume any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please visit Cadillac's website www.cadillacventures.com, or contact Norman Brewster, President and Chief Executive Officer, at 905-837-2000.

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 new release.

Cadillac enters definitive deal to buy KFG

2021-02-09 17:45 MT - News Release


Mr. Norman Brewster reports

CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ENTER INTO ARRANGEMENT AGREEMENT

In connection with their previously announced letter of intent, Cadillac Ventures Inc. and KFG Resources Ltd. have entered into a definitive arrangement agreement dated Feb. 8, 2021, pursuant to which, among other things, Cadillac will acquire all of the issued and outstanding common shares of KFG. Under the arrangement agreement, KFG shareholders will be entitled to receive one common share of Cadillac in exchange for each KFG common share held. The arrangement agreement will be filed on Cadillac's SEDAR profile on the SEDAR website.

KFG, through its wholly-owned subsidiary KFG Petroleum Corporation ("KFG Petroleum"), owns primary producing oil reserves in the United States. Following completion of the Transaction KFG will become a wholly-owned subsidiary of Cadillac, and Cadillac will thus have an interest in these oil reserves. In particular, KFG Petroleum owns primary producing oil reserves located on the Spring Hill lease, Fayette Field, and Jefferson County, Mississippi. Additionally, KFG Petroleum owns two shut-in gas wells in Jefferson County, Mississippi. Furthermore, KFG owns an interest in twelve additional oil wells in Adams, Franklin, and Jefferson counties, Mississippi, all of which have future value. Based on information as of April 30, 2020, contained in KFG's most recent Form 51-101F1, three of the five Spring Hill reserves comprise approximately 91.8% of KFG's proved oil reserves and 60.8% of KFG's proved plus probable oil reserves. KFG does not have any future gas reserves, while future oil reserves account for 100% of KFG's future net revenue attributable to its proved plus probable reserves. Detailed information regarding the oil and natural gas reserve data for KFG Petroleum Corporation can be found in its most recent Form 51-101F1 dated April 30, 2020, which is available under KFG's SEDAR profile.

The Transaction will be effected by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by at least 66 2/3% of votes cast by KFG shareholders present in person or represented by proxy at a special meeting of KFG shareholders to be called in connection with the Transaction (the "Meeting") in addition to any minority approval required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. In addition to KFG shareholder approval, closing of the Transaction is subject to the receipt of certain regulatory, court and stock exchange approvals and the satisfaction of other closing conditions customary in transactions of this nature.

The Transaction has been unanimously approved by the board of directors of both KFG and Cadillac.

Following completion of the Transaction, it is anticipated one KFG director will be appointed to the Cadillac board of directors and a second KFG nominee will be appointed at Cadillac's next annual shareholders meeting. KFG common shares will be delisted from the TSXV.

Cadillac Ventures Inc. Announces the Results of Its Annual General and Special Meeting

2020-11-12 06:02 MT - News Release


TORONTO, ON / ACCESSWIRE / November 12, 2020 / Cadillac Ventures Inc. (the "Corporation") (TSXV:CDC)(OTC PINK:CADIF) ("Cadillac") is pleased to announce the results of the Corporation's Annual General and Special Meeting ("AGM") of Shareholders which was held on November 11th at the Corporation's head office in Pickering.

The Corporation is pleased to report that all items that were set out in the Notice of the Meeting were duly passed at the AGM including the approval of the sale of the Thierry Mine Project, the appointment of Dale Matheson Carr-Hilton Labonte LLP., as the Corporation's Auditor, the re-approval of the Corporation's current stock option plan, the approval to grant the directors of the Corporation the ability to undertake a consolidation of the Corporations share capital at a range between a one for three and a one for ten basis, and the election of the Directors (Norman Brewster, Neil Novak, Maurice Stekel and Rahim Allani).

Contact Information

For more information regarding Cadillac, please visit the Company's website www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 905 837 2000.

Cadillac Ventures Inc. and KFG Resources Ltd. Agrees to Pursue an Amalgamation
TORONTO, ON / ACCESSWIRE / November 4 , 2020 / Cadillac Ventures Inc. (TSXV:CDC)(OTC PINK:CADIF) and KFG Resources Ltd. (KFG) (KFGRF) have signed a letter of intent to pursue an amalgamation, with the support of both boards, subject to approval by shareholders of each company and TSXV approval. The amalgamation will proceed with an exchange of KFG common shares for Cadillac common shares on a one for one basis.

The companies believe that the amalgamation will create significant value for both shareholder groups. As such, the boards of directors of both companies have agreed specific terms of the proposed transaction will be determined based on corporate, tax and securities laws and other considerations. The principals of both Cadillac and KFG will provide support agreements for the transaction.

Following completion of the amalgamation, Cadillac will proceed to effect a consolidation of its shares, expected to be on a 1 for 3 basis.

The directors of KFG wish to thank their shareholders for their support during the downturn of the oil market over the past several years. We believe that the proposed transaction with Cadillac can create a new and more impressive company with diversified assets, cash flows and reduced costs to make our oil production more lucrative. Both Mr. Haney and Mr. Grassi approve of the transaction and urge all KFG shareholders to follow suit.

The directors of Cadillac believe that the cash flow provided by the oil revenue related to this transaction will allow the company to be more effective in the review and acquisition of additional mineral properties. The directors urge Cadillac shareholders to support the transaction.

Contact Information

For more information regarding Cadillac, please visit the Company's website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 416 970-3223.

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 new release.

SOURCE: Cadillac Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/614345/Cadillac-Ventures-Inc-and-KFG-Resources-Ltd-Agrees-to-Pursue-an-Amalgamation

Braveheart Resources and Cadillac Ventures Enter into Definitive Agreement for Purchase and Sale of Thierry Mine Project

2020-10-21 07:00 MT - News Release


CALGARY, AB and TORONTO, ON / ACCESSWIRE / October 21, 2020 / Braveheart Resources Inc. (BHT) (RIINF) ("Braveheart") and Cadillac Ventures Inc. (TSXV:CDC) (OTC PINK:CADIF) ("Cadillac") are pleased to announce that they have entered into a definitive share purchase agreement (the "Definitive Agreement") with respect to the previously announced (see press release of August 18, 2020) purchase by Braveheart of a 100% interest in the Thierry Mine Project (the "Thierry Project") near Pickle Lake, Ontario from Cadillac.

Under the terms of the agreement, Braveheart will acquire 100% of the shares of Cadillac's wholly-owned subsidiary Cadillac Ventures Holdings Inc., which owns Cadillac's interest in the Thierry Project, for the following consideration: (i) $300,000 in cash; (ii) 13,500,000 common shares of Braveheart; and (iii) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000. The acquisition of the Cadillac Ventures Holdings includes approximately $405,000 in cash, which supports closure obligations associated with the property.

The Thierry Project is a past-producing copper and nickel mine located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size and contains a NI 43-101 mineral resource. There is a municipal airport, nearby rail system and provincial power grid within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded.

Cadillac has scheduled a shareholder meeting for November 11, 2020 for the purpose of obtaining the approval of Cadillac shareholders for the sale of the Thierry Project. The transaction is expected to close in November 2020 and is subject to regulatory and third party approvals and customary conditions precedent.

About Braveheart Resources Inc.

Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable and proven Canadian mining jurisdictions. Braveheart's main asset is the Bull River Mine project near Cranbrook, British Columbia which has a current mineral resource containing copper, gold and silver.

About Cadillac Ventures Inc.

Cadillac Ventures Inc. is an exploration company listed on the TSX-V. Following the sale of Cadillac Ventures Holdings Inc. Cadillac's asset is the Burnt Hill Tungsten property located in New Brunswick, which contains a NI 43-101 mineral resource. Cadillac is presently valuating other mineral opportunities.

Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
1-403-512-8202
admin@braveheartresources.com
Website: www.braveheartresources.com

Contact Information
Cadillac Ventures Inc.
Norman Brewster
President & Chief Executive Officer
1-905-837-2000
norman@cadillacventures.com

For more investor information, please contact Braveheart at:

Kevin Shum
O: +1-647-725-3888 Ext 702
M: +1-604-376-0323
E: kevin@jeminicapital.com
E: info@jeminicapital.com

Braveheart Resources to acquire Thierry from Cadillac

2020-08-18 08:25 MT - News Release

See News Release (C-BHT) Braveheart Resources Inc

Mr. Ian Berzins of Braveheart reports

BRAVEHEART RESOURCES ENTERS INTO LETTER OF INTENT FOR PURCHASE OF THIERRY MINE PROJECT

Braveheart Resources Inc. has entered into a letter of intent with Cadillac Ventures Inc. for the purchase of a 100-per-cent interest in the Thierry mine project near Pickle Lake, Ont.

Under the terms of the LOI, Braveheart will acquire Thierry from Cadillac for the following consideration: (i) $300,000 in cash; (ii) 13,500,000 common shares of Braveheart; and, (iii) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000. Closing of the purchase of Thierry remains subject to the parties entering into a definitive purchase and sale agreement (the "Definitive Agreement"), satisfactory completion of due diligence by Braveheart and the approval of the TSX Venture Exchange. The intention of Braveheart and Cadillac is to finalize the Definitive Agreement, which will include customary terms and conditions including representations and warranties, and close the purchase of Thierry by Braveheart within the next 30 days.

The Thierry copper-nickel platinum group elements ("PGE") deposit was discovered by Union Miniere Exploration and Mining ("UMEX") of Belgium in 1969 and mined through open pit and underground workings between 1976 and 1982. The mine was shut down due to low commodity prices. Based on historical records UMEX milled 5,800,000 short tons of copper and nickel mineralized material from the deposit with an average grade of 1.13% Cu and 0.14% Ni. In addition, precious metals payables included 47,000 ounces of palladium, 17,000 ounces of gold, 17,500 ounces of platinum and 900,000 ounces of silver. The most recent independent National Instrument 43-101 ("NI 43-101") Technical Report and Resource Estimate was completed by P&E Mining Consultants Inc. in February 2012 (the "2012 Thierry Technical Report") and is available on Cadillac's SEDAR profile at www.sedar.com. The 2012 Thierry Technical Report estimates a measured and indicated resource at the Thierry underground of 8,815,000 tonnes at a grade of 1.66% Cu and 0.19% Ni. Additional measured and indicated metal values include 0.13 gpt Pd, 0.05 gpt Au, 0.04 gpt Pt and 4.0 gpt Ag. There are a further 14,922,000 tonnes in an inferred category at a grade of 1.64% Cu and 0.16% Ni. Additional inferred metal values include 0.21 gpt Pd, 0.10 gpt Au, 0.07 gpt Pt and 6.4 gpt Ag. The Thierry project also contains a near surface inferred resource at the K1-1 deposit. The K1-1 deposit contains 53,614,000 tonnes at a grade of 0.38% Cu and 0.10% Ni. Additional inferred metal values include 0.14 gpt Pd, 0.03 gpt Au, 0.05 gpt Pt and 1.83 gpt Ag. The reader is cautioned that a Qualified Person has not done sufficient work to classify the mineral resources stated in the 2012 Thierry Technical Report as current resources. Braveheart is not treating this historical estimate as current mineral resources. While this estimate was prepared in accordance with NI 43-101 and CIM 2005 in effect at the time, there is no guarantee that it would be consistent with current standards and it should not be regarded as such. Braveheart has not undertaken any independent verification of the data upon which the historical estimates are based. The historical estimate is considered relevant to assess the mineralization potential of the property.

The Thierry Mine Project is located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size. There is a municipal airport and nearby rail system and the provincial power grid is within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded.

Norman Brewster, President and CEO of Cadillac stated: "We believe the proposed transaction is a compelling one to Cadillac and its shareholders, providing a significant cash injection, continued exposure and upside to any success on Thierry and exposure to a broader property package through the proposed proforma ownership in Braveheart. The combination of Thierry with Braveheart's assets is a natural one, and will create a meaningful consolidated and highly prospective land package and the ability to accelerate unlocking value".

Ian Berzins, President and CEO of Braveheart commented: "The proposed acquisition of the Thierry Mine Project represents a significant next step in the growth of our Company. The project is very complimentary to our Bull River underground copper, gold and silver mine in British Columbia and provides the Company with project and geographic diversification. Braveheart is focused on acquiring and developing past-producing assets, in favourable Canadian jurisdictions with existing mineral resources in place. We were particularly drawn to this opportunity because of the significant infrastructure already in place and the proximity to roads, grid power and established mining communities".

Qualified person

Braveheart's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Ian Berzins P.Eng., who serves as president, chief executive officer and a director of the Company and is a qualified person under the definition of National Instrument 43-101.

About Braveheart Resources Inc.

Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favourable and proven mining jurisdictions of the East and West Kootenays of British Columbia. Braveheart's main asset is the Bull River Mine project which has a current mineral resource containing copper, gold and silver. The property is fully developed with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

Positive news this week on Ring Of Fire. Lots of plays up that way and even some recent property acquisitions last week from two different companies. Looking forward to seeing Cadillac Ventures close their JV deal next week, as per the December news release.

Ontario government signs Ring of Fire agreements with 2 northern First Nations : https://globalnews.ca/news/6622081/ring-of-fire-ontario-agreements/

Australians stake more ground near Pickle Lake : https://www.northernontariobusiness.com/industry-news/mining/australians-stake-more-ground-near-pickle-lake-2113832

Commander Acquires Gold Project in Pickle Lake, Ontario : https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/commander-acquires-gold-project-in-pickle-lake-ontario/

CEO keeps buying stock, deal with NFR to close in 3 weeks, should have a nice pop.

more insider buying:

Recent filings
Filed 2020-02-03 16:30
Tx date 2020-02-03 $CDC
Cadillac Ventures Inc. Brewster, Norman
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $600.00
+15,000 vol
$0.04 each 6,627,720
Older filings
Filed 2020-01-30 13:57
Tx date 2020-01-30 $CDC
Cadillac Ventures Inc. Brewster, Norman
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $525.00
+15,000 vol
$0.035 each 6,612,720
Filed 2020-01-29 12:33
Tx date 2020-01-29 $CDC
Cadillac Ventures Inc. Brewster, Norman
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $525.00
+15,000 vol
$0.035 each 6,597,720

Some insider buying this week. Keeping in mind that the CEO has nearly doubled his holdings over the last few years:

Filed 2020-01-30 13:57

Tx date 2020-01-30 $CDC
Cadillac Ventures Inc. Brewster, Norman
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $525.00
+15,000 vol
$0.035 each 6,612,720
Filed 2020-01-29 12:33

Tx date 2020-01-29 $CDC
Cadillac Ventures Inc. Brewster, Norman
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $525.00
+15,000 vol
$0.035 each 6,597,720

43-101 Indicated Resource Has the Following Metals: (Copper, Gold, Silver, Platinum, Palladium, Nickel)

Polymetallic Resource
> 1,000,000,000 lb Copper
> 75,000,000 lb Nickel
> 60,000 Oz Gold
> 50,000 Oz Platinum
> 125,000 Oz Palladium
> 4,000,000 Oz Silver

Open on strike and at depth – significant expansion potential

Here is Northern Fox's financing done in late 2018, it specifically mentions raising money just for the Theirry project. So this deal has been in the works for at least 2 years, if not longer:

https://static1.squarespace.com/static/5a283326692ebe66d38d74ed/t/5aefc3d02b6a281d80d3cca9/1525662675141/Northern+Fox+Greensheet+Q2+2018.pdf

CONFIDENTIAL OFFERING MEMORANDUM March 26, 2018 INVESTMENT RATIONALE Initial Private Offering of Northern Fox Resources Inc. (“Fox”) C$4 million at C$0.15 per unit. By fully exploiting the resource at the Thierry copper deposit, we create significant returns for our investors. Copper has a strong underlying, future market. The world is facing a copper deficit. Copper is an important part of the growing global economy from infrastructure, renewable energy, and electric vehicles. In Asia, Brazil, and India, the fundamentals and demand for copper will continue to grow, and become stronger over the next five to 10 years. World-class deposit with resource scale. Thierry is a world-class copper deposit, with very lowcost of production and long-life assets. Both the underground and open-pit deposits are open on strike and depth, providing significant upside deposit potential. Attractive IPO valuation. Long-term investment-grade opportunity at an attractive investment level with significant upside compared to peers. Opportunities to invest in projects with this asset combination of size, economics, infrastructure, and location are rare. Low capital intensity and low-risk. As a past producer, with over C$140 million invested to date, the initial capex to recommission is low for Stage 1 production at C$104 million; a low-risk premium given Thierry’s location within Canada’s stable political and mining jurisdictions, coupled with production economics, whereby 100% of operating costs are Canadian dollars, hedged against US dollar copper price volatility. Management successfully founded and commercialized a producing copper mine. The management team has a proven history of creating shareholder value in the copper mining industry, having successfully commercialized the Aguas Teñidas copper mine, currently producing 4.6 million tonnes of copper a year.

Issuer Northern Fox Resources Inc. (the “Company” or “Fox”). Issue Size C$4,000,000. Offering 26,666,667 Common Shares (C$0.15 per share). Issue Price C$0.15 per unit. Flow Through Option The Company has granted the Underwriters an option exercisable in whole or in part, at any one time for a period of 60 days after Closing, to purchase up to an additional 13,333,334 Common Shares (50% of the Offering) at the Offering Price). Basic Shares Outstanding Upon Closing 105,666,667 Common Shares. Dividend Policy Fox does not currently anticipate paying any dividends on the Common Shares. The Company currently intends to use its future earnings and other cash resources for the operation and development of its business, but may declare and pay dividends in the future as operational circumstances permit. Use of Proceeds The Company intends to use the net proceeds from the Offering for general working capital purposes to complete the Bank Feasibility Study, and pursue the Company’s growth strategy. Principal Shareholder At Closing, Founders, Management, and Peblik LLC will, in the aggregate, directly or indirectly, own or control 79,000,000 Common Shares, representing 73% of the issued and outstanding Common Shares of 107,666,667. At Closing of the Flow Through Option, Founders, Management and Peblik Limited will, in the aggregate, directly or indirectly, own or control 79,000,000 Common Shares, representing 35% of the issued and outstanding Common Shares of 222,666,667. Lock-Up Each of the senior officers and directors of the Company and all other shareholders that held a direct or indirect interest in the Company before Closing (the “Lockedup Shareholders”) will be, subject to certain exceptions, subject to lock-up arrangements for 180 days from Closing. The Locked-up Shareholders hold, in the aggregate 79,000,000 Common Shares, representing 75% of the outstanding Common Shares after giving effect to the Offering. Additionally, the Company will be, subject to certain exceptions, subject to lock-up arrangements for 180 days from Closing. Hold Period Subscription receipts have a four month hold but the underlying common shares will be free trading upon conversion of the Subscription Receipts. Eligibility for Investment Eligible for RRSPs, RESPs, RRIFs, TFSAs, DPSPs and RDSPs. Form of Offering Initial private offering in all provinces of Canada pursuant to a long-form prospectus. Private placement in the United States to “qualified institutional buyers” pursuant to Rule 144A under the U.S. Securities Act of 1933. Syndicate Selling Concession 10.0% Closing Expected Q2/Q3 2018 S

Cadillac signs Thierry earn-in option agreement

2019-12-09 15:13 MT - News Release


Mr. Norman Brewster reports

CADILLAC VENTURES SIGNS EARN-IN OPTION AGREEMENT

Cadillac Ventures Inc. has signed an earn-in option agreement with Northern Fox Resources Inc. The agreement relates to Cadillac's 100-per-cent interest in the Thierry mine property, located in the Pickle Lake area of Ontario.

The terms of the agreement are as follows:

Within 90 days (by March 9, 2020), Northern Fox will pay a previously agreed upon $300,000 to Cadillac ($75,000 of which has been advanced), following the financing of Northern Fox, to have the right to earn a 51-per-cent interest in the property;
Northern Fox will issue 10 million Northern Fox shares to Cadillac, subject to regulatory approvals, within 60 days following the Northern Fox financing;
Northern Fox will issue to Cadillac a $1.25-million note secured by a first charge against Northern Fox's interest in the property.
The note will then be retired proportionately to work expenditures on the property as follows:

30 per cent ($375,000) to be retired on the completion, within 12 months of the Northern Fox financing closing date of the $1.25-million work program appended to the agreement;
40 per cent ($500,000) to be retired on the delivery of a feasibility study by Northern Fox to Cadillac within 24 months of the Northern Fox financing closing date;
30 per cent ($375,000) to be retired on the earlier of acceptance of an environmental study or 36 months from the Northern Fox financing closing date.
Should the above terms independently not be met, then the option shall be null and void.

On completion of the 51-per-cent earn-in, Northern Fox will have the option to earn a further 10-per-cent interest by spending a further $2-million over two years. After a 61-per-cent interest is earned by Northern Fox, a formal joint venture agreement will be drawn up between the Cadillac and Northern Fox.

© 2020 Canjex Publishing Ltd. All rights reserved.