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Cullinan Metals Corp V.CMT


Primary Symbol: C.CMT Alternate Symbol(s):  CMTNF

Cullinan Metals Corp. is a Canadian mining and exploration company focused on the development of energy metals. The Company is focused on energy resources, such as copper, graphite and lithium assets. Its projects include Smiley Lithium Project, Lac-Des-Iles West Graphite Project and Wakeman Lake Lithium Project. The Smiley Lithium Property consists of around five mining claims comprising approximately 1,902 hectares located 55 kilometers (km) north of Thunder Bay, Ontario. The Smiley Lake Lithium property is located in northwestern Ontario where numerous lithium deposits have been delineated to host significant reserves of lithium oxide (Li2O). The Lac-Des-Iles West Graphite Project consists of around 43 mineral claims in one contiguous block covering approximately 2276 hectares land, near the town of Mont-Laurier in southern Quebec. The highly prospective Wakeman Lake Lithium Project covers approximately 7,900 acres and is located in Northwestern Ontario.


CSE:CMT - Post by User

Comment by Sthlheadron Feb 09, 2020 4:53pm
79 Views
Post# 30664767

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:beware!

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:beware!Also reading the file below it looks like 20 million of the new loan was used to pay off an old loan....https://webfiles.thecse.com/AGRA_Form_9_-_Debentures_-_Dec_20_2019.pdf?KmwXZ3m8AmoXysvj_vO2OeUHDwjQAp9n= Total amount of funds to be raised: $30,000,000. 2. Provide full details of the use of the proceeds. The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction without reference to any other material. The Issuer will use the proceeds of the sale of the Debentures to purchase the outstanding 10% senior unsecured convertible debentures due March 2021 issued by ICC International Cannabis Corp. in the aggregate principal amount of US$20 million, for general working capital, to continue the ongoing capital expenditures at the Issuers 2.2-million-square-foot Delta greenhouse complex, capital expenditures at the Issuers 51,500 square-foot Winnipeg edibles facility, and for investment purposes.Debentures, with each Debenture consisting of $1,000 principal amount non-redeemable 10% unsecured senior convertible debenture maturing on March 12, 2012 (the Maturity Date) and convertible into (i) the number of Sharesthat is equal to the principal amount of each Debenture being converted at a deemed price of $0.30 per Share, and (ii) a cash payment equal to the principal amount and an amount corresponding to the interest that such holder (the Debenture Holder) would receive if the holder held the Debenture from the date of conversion until the Maturity Date.
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