Cadillac Ventures Inc. Enters into Op on Agreement for the Burnt Hill Tungsten Project in New Brunswick

Core Insights - Cadillac Ventures Inc. has sold an initial 29.58% interest in the Burnt Hill Tungsten Project to Nexcel Metals Corp. for a total consideration of $170,000 in cash and $330,000 in common shares, resulting in the issuance of 355,775 shares at a deemed price of $0.78 per share [1][2]. Group 1: Transaction Details - The Optionee can earn an additional 28.42% interest in the Property, bringing the total potential interest to 58%, by paying $250,000 in cash and issuing $600,000 in common shares to Cadillac [2]. - A joint venture will be established among Cadillac, the Optionee, and the Minority Owner once the Optionee earns at least a 51% interest in the Property [2]. Group 2: Share Issuance and Restrictions - The 355,775 common shares issued to Cadillac are subject to a hold period that expires on April 9, 2026, with additional voluntary resale restrictions on 15% of the shares until specified dates in 2026, 2027, and 2028 [3]. - 10% of the common shares issued will not be restricted but are subject to the statutory hold period [3]. Group 3: Regulatory Approval - The agreement is contingent upon approval from the TSX Venture Exchange [4].