Total Metals to provide Loan to Kattegat Mining Inc.

Core Viewpoint - Total Metals Corp. has entered into a definitive agreement to provide a loan of $3,500,000 to Kattegat Mining Inc. at an interest rate of 8%, secured by a general security agreement over Kattegat's assets [1][3]. Company Overview - Total Metals Corp. focuses on its 100% owned Electrolode Project, which spans over 3,300 hectares in northwestern Ontario, targeting critical minerals and gold resources [8]. - The Electrolode Project is strategically located near major mines and is fully permitted for exploration drilling, with significant expansion potential [8]. - Total Metals also owns the High Lake and West Hawk Lake Projects, covering 958 hectares along the Manitoba/Ontario border, with exploration potential in the Purex Zone [8]. Loan Agreement Details - The loan proceeds will be used exclusively to repay Kattegat's outstanding convertible debentures and other liabilities [3]. - The loan is secured by a general security agreement, granting Total Metals a first-ranking security interest over all of Kattegat's present and after-acquired assets [3][4]. - The completion of the loan is conditional upon the repayment of Kattegat's liabilities and the approval of the TSX Venture Exchange [6]. Company Background - Kattegat Mining Inc. is a private company incorporated in British Columbia, holding 100% ownership of the Shoal Lake Property located in northwestern Ontario [2][7].