Cameo Neighbor Nemaska Launches USD 300-350M Bond Offering
April 24 2018 - 3:05AM
Cameo Resources Corp. (TSX Venture:CRU)
(OTC:CRUUF) (FWB:SY7D) (the “
Company” or
“
Cameo Resources”) is pleased to note that Nemaska
Lithium Inc. has launched an offering of senior secured callable
bonds on a private placement basis for proceeds of USD 300-350M.
Nemaska Lithium Inc. holds the Whabouchi Lithium deposit claims,
which extend to within 1 km of Cameo’s Montagne Lake Property in
central Québec. Nemaska Lithium’s Whabouchi lithium deposit
is one of the most important spodumene lithium deposits in the
world, both in size and grade. Nemaska Lithium is currently raising
funds for the construction and commissioning of its proposed
Whabouchi Mine and Shawinigan Plant project.
Cameo’s Whabouchi Regional Lithium (“WRL”) Project in Quebec
covers more than 19,000 ha in two blocks on either side of
Nemaska’s proposed Whabouchi lithium mine including Cameo’s 4,484
ha Montagne Lake Property immediately to the west of Nemaska’s
proposed Whabouchi lithium mine, and the Dumont Property 6 km to
the east.
As reported by Nemaska Lithium (news release dated April 20,
2018) the financing transactions contemplated by the aforementioned
Bond Offering, the Streaming Agreement, the SoftBank private
placement and the Equity Offerings are intended to provide a
comprehensive project-financing package for the proposed Whabouchi
mine and the Shawinigan plant. Closing of these financing
transactions and the release of funds thereunder will be subject
to, among other things, the successful marketing and closing of the
Bond Offering and Equity Offerings and the execution of definitive
agreements in connection therewith, and the receipt of regulatory
approvals (including approval of the TSX). Each such financing
transaction will be conditional on the completion of one
another.
Although Nemaska Lithium’s proposed mine at
Whabouchi is proximal to Cameo’s WRL Project, the spodumene lithium
mineralization on Nemaska’s ground is not necessarily indicative of
similar mineralization on Cameo’s property and Cameo’s qualified
person is unable to independently verify the information reported
by Nemaska Lithium Inc.
Harrison Cookenboo, Ph.D., P.Geo., is
a qualified person as defined
in National Instrument 43-101. He has
reviewed and is responsible for the presentation of technical
information in this news release.
CAMEO RESOURCES CORP.
“ Akash Patel”
Akash PatelPresident(778) 549-6714Email:
akashp006@gmail.comwww.cameoresources.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/ea5cd34b-4384-4d58-ace7-8a047010c779
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