MONTREAL, QUEBEC--(Marketwired - Feb 14, 2017) - Canada Strategic Metals Inc. ("Strategic Metals" or "the Company") (TSX VENTURE:CJC) (FRANKFURT:YXEN) (OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT)(OTCQX:MHREF) are pleased to announce that Strategic Metals will exercise its option to acquire an additional 20% interest in the expanded Sakami property. The Company already owns a 50% interest in the property, and can now increase its ownership to 70%, if it meets certain obligations laid out in the option agreement.
In order to acquire this additional 20 % interest in the expanded Sakami property, Strategic Metals will have to issue 1,000,000 common shares to Matamec and complete a bankable independent feasibility study within five (5) years of the date on which its option has been exercise. During this period, Strategic Metals will have to spend at least $2,000,000 in exploration before the end of each year up to the completion of the bankable, independent feasibility study.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Jean-Sebastien Lavallee, P. Geo President and Chief Executive Officer 819-354-5146 Paradox Public Relations 514-341-0408 Momentum Public Relations Inc. 450-332-6939
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