Cameo Neighbor Announces Closing of US $350M Bond Offering
May 11 2018 - 8:30AM
Cameo Resources Corp. (TSX Venture:CRU)
(OTC:CRUUF) (FWB:SY7D) (the “
Company” or
“
Cameo Resources”) is pleased to note that Nemaska
Lithium Inc. has priced and closed the books on its offering of
senior secured callable bonds in the aggregate principal amount of
$ 350-million (U.S.).
As reported by Nemaska Lithium (news release dated May 10, 2018)
the Bonds will be senior debt of the Corporation and guaranteed by
Nemaska Lithium Whabouchi Mine Inc. ("NMX Whabouchi") and Nemaska
Lithium Shawinigan Transformation Inc. ("NMX Shawinigan"), each a
wholly-owned subsidiary of the Corporation. Subject to certain
exceptions, the Bonds will be secured on a first priority basis
over all material assets (tangible and intangible) of the
Corporation, NMX Whabouchi and NMX Shawinigan, and will also be
secured by a second ranking pledge of the shares of Nemaska Lithium
P1P Inc., another wholly owned subsidiary of the Corporation.
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, and 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.
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.
The Company is also pleased to announce the launch of the
company's redesigned website, http://cameocorp.ca/. Cameo
encourages all current and potential shareholders to visit the
website to explore the completed rebranding and redesign
initiatives.
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.
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