The Canadian Chrome Company Inc. Announces Closing of a Second Tranche of Its Private Placement of Units and Provides a Corporate Update on Its Strategic Review

Core Viewpoint - The Canadian Chrome Company Inc. has successfully closed the second tranche of its non-brokered unit private placement, raising a total of $260,000 through the issuance of 173,333 units at a price of $1.50 per unit, which will be used to satisfy debts owed to a third party [1][2]. Private Placement Details - The second tranche of the private placement consists of 173,333 units priced at $1.50 each, resulting in gross proceeds of $260,000 [1]. - Each unit includes one multiple voting share and one warrant, allowing the holder to purchase an additional multiple voting share at $1.75 before December 31, 2027, or within two business days after a change of control [1]. - The private placement has been extended until March 2, 2026, with the possibility of additional tranches being completed before this date [3]. Use of Proceeds - The proceeds from the private placement are non-cash and are designated to settle bona fide debts, specifically accrued work fees payable to Origin Merchant Partners [2]. Corporate Strategy - The company has engaged Origin Merchant Partners as a financial advisor to explore its strategic options, including potential sale, divestiture, or joint ventures [4]. - The CEO emphasized the attractiveness of the company's chromite projects in the context of global market trends and domestic supply chain interests, indicating potential interest from various investors [5]. Company Overview - The Canadian Chrome Company Inc. focuses on the exploration and development of large-scale mineral deposits, particularly chromite in the Ring of Fire, and aims to support infrastructure development for accessing remote areas [6].