Cullinan Metals Corp V.CMT

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

Metals & Mining Copper

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.

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Cullinan Metals Corp > Another settlement, who glommed the 1/2 million shares?

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Comment by Freebirdson Feb 11, 2022 7:45pm

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Post# 34422369

RE:Another settlement, who glommed the 1/2 million shares?

Could it possibly be from the Sale of Binbrook Property?

AgraFlora also said that on July 14, 2021, it sold the Binbrook property held by its wholly-owned subsidiary Sanna Health Corp for around $1.87 million.

“As a result, the company’s level of indebtedness has been reduced by the same amount and certain litigation previously involving Sanna Health Corp. with the mortgagees of the Binbrook property has been settled and the action has been dismissed,” noted the company.

mystique1 wrote:
It never ends? Who gets a settlement next month?

Settlement Agreement

The Company also announces that it has entered into a settlement agreement (the "Settlement") to resolve outstanding legal claims against the Company's wholly owned subsidiary, Sanna Health Corp. ("Sanna"), initiated by a former Executive of Sanna (the "Former Executive"). Pursuant to the Settlement, the Company shall issue to the Former Executive 552,609 common shares of the Company (the "Settlement Shares") in addition to a cash payment. The Settlement Shares will be issued at a deemed price per share of $0.4524. The Settlement Shares will not be subject to a four month plus one day hold as the Company is relying on the prospectus exemption for employees pursuant to Section 2.24 of National Instrument 45-106 - Prospectus Exemptions.