Silicon Metals Corp. Enters Share Purchase Agreement for the Acquisition of the Crystal Hills Project

Core Viewpoint - Silicon Metals Corp. has entered into a definitive share purchase agreement to acquire 100% interest in the Crystal Hills Project, enhancing its portfolio in high-quality silica mining in Ontario [1][4]. Transaction Details - The acquisition involves issuing 2,000,000 common shares at a deemed price of $0.065 per share and a cash payment of $85,000 to the shareholders of the target company [1][4]. - Upon completion, Silicon Metals will have 49,716,690 shares outstanding [1]. Project Overview - The Crystal Hills Project is located in Clarkson Township, Ontario, covering approximately 400 hectares with five mineral claims [4]. - The project features a high purity crystalline quartzite formation with over 98% SiO2 content, making it favorable for future extraction [4][8]. - Accessibility is enhanced by established access roads and proximity to highways and rail services [4]. Management Commentary - The CEO of Silicon Metals expressed excitement about the acquisition, indicating plans for an initial work program and a positive outlook for the mining sector [8]. Regulatory and Compliance Aspects - The transaction is subject to approval from the Canadian Securities Exchange (CSE) and includes customary representations and warranties [10]. - Related party considerations are noted, as a director of the company is also a shareholder of the target, with exemptions from formal valuation and minority shareholder approval requirements being applied [11][12]. Company Background - Silicon Metals Corp. focuses on exploration and development in Canada, with other projects including the Maple Birch Project and the Ptarmigan Silica Project [14].