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].

Core Points - Cadillac Ventures Inc. has entered into an option agreement with Nexcel Metals Corp. and Wyloo Ring of Fire Ltd. for a potential 58% interest in the Burnt Hill Tungsten Project located in New Brunswick, Canada [1][4] Agreement Terms - The Optionee can acquire the 58% interest in four stages, starting with a payment of $170,000 in cash and issuing $330,000 in common shares [2] - The first option allows the Optionee to earn up to 29.6% interest, followed by additional payments and share issuances to reach 38.3%, 46.4%, and finally 58% [2] - All common shares issued will be subject to statutory hold periods and voluntary resale restrictions over a 36-month period [3] Joint Venture Formation - Upon earning a 51% interest, a joint venture will be established among the Optionee, Cadillac, and the Minority Owner, with the latter's 42% interest remaining unaffected unless a future acquisition is agreed upon [4]