Cadillac Ventures Inc. Due Diligence Report Ticker Symbols: CDC (Canada) & CADIF(USA) Stock Prices: $0.03 CAD & $0.00334 USD Common Shares: 90,721,266 Options: 4,685,000 Insider Holdings: 7,129,829 or 8% Institutional Holdings: 39,705,385 or 44% Note: Information Circular and Proxy recently came out on Sedar. No rollback will occur. 3 Assets owned: 1) 100% Ownership of Thierry Copper Deposit (322 Million lbs of Copper M&I & 538 million inferred) 2) 51% Ownership of Burnt Hill property: 8.99 million lbs of Tungsten & 163 million lbs of Molybdenum M&I. Noront Resources owns remaining 49% with a deal for CDC to buy their stake 3) Kirkland Lake/Grenfell Gold Property (Sold to ARA.V but CDC retains a 2% NSR). ARA received a major investment from Sandstorm on January 14th 2020. In December 2019, a deal was struck between Cadillac and NFR to push the Thierry project forward. This deal could finance CDC’s purchase of NOT’s 49% of Burnt Hill. Sandstorm News: : https://finance.yahoo.com/news/cadillac-ventures-signs-earn-option-220500974.html Most recent presentation: http://www.cadillacventures.com/i/misc/CDC-June-2017.pdf Thierry 43-101 Report: http://www.cadillacventures.com/i/pdf/43-101-Positive-Preliminary-Economic-Assessment.pdf Burnt Hill 43-101 Report: http://www.cadillacventures.com/i/pdf/BurntHill_NI43-101-2014.pdf JV Partner website: https://www.northernfoxresources.com/ JV Partner financing (Finished late 2018 for $4 million): https://static1.squarespace.com/sta...662675141/Northern+Fox+Greensheet+Q2+2018.pdf Sandstorm investment in ARA.V where CDC owns a 2% NSR on a gold property: https://finance.yahoo.com/news/avalon-investment-holdings-announces-closing-130000367.html Here is the 45 year historic Copper price chart. Theirry was in production in the 1980’s when copper prices were below $1 a lb, today we sit around $2.70. Even with inflation, the asset is minable today and can generate a profit. Link: https://www.macrotrends.net/1476/copper-prices-historical-chart-data All numbers below can be found on Sedar (Most recent quarterly filing in November) Financials ASSETS Cash: $75K Advance (December deal signed JV deal For $300k + Shares & $1.25 Mil Note) Short Term Investments: $30,046 Accounts Receivables: $52,276 Marketable Securities: $279,120 Restricted Cash: $401,176 Marketable Securities (non current): $600,000 Property Plant & Equipment: $29,694 Exploration & Evaluation Assets: $18,177,922 Total Assets: $19,570,234 LIABILITIES Accounts Payable: $1,327,327 Bank Overdraft: $3,344 Convertible Debenture: $519,329 Decommissioning Provision: $452,335 Total Liabilities: $2,302,335 3 Month G&A Expenses: $98,127 6 Month G&A Expenses: $189,618 MD&A Highlights From Last Quarter Description of Business Cadillac is a development focused exploration Company and was incorporated on October 19, 1995. Cadillac has two main Canadian exploration projects located in regions that have been historically active. The Thierry property is located in north-western Ontario adjacent to the town of Pickle Lake which includes the past producing Thierry mine which was last operated by UMEX and shut down in 1982 due primarily to the decline in the price of copper. The Burnt Hill property is a 51% owned tungsten tin property located outside of Fredericton, New Brunswick. Exploration and Evaluation Assets Thierry Property In January 2010, the Company acquired Richview Resources Inc. through the amalgamation of Richview with a wholly owned subsidiary of Cadillac pursuant to a three-cornered amalgamation. Pursuant to the amalgamation Cadillac acquired the Thierry property in north-western Ontario adjacent to the Town of Pickle Lake which included the past producing Thierry mine which was last operated by UMEX and shut down in 1982 due primarily to the decline in the price of copper. Outside of the Thierry underground mine area the eastern component of the property encompasses a project referred to as K1-1 which lies three kilometers east of the Thierry mine. The Thierry property now comprised of 27 mining leases encompasses a land position of 7,015 hectares and 3 unpatented contiguous claims totalling 750 hectares. Earlier in 2011 Cadillac completed two drilling programs consisting of sixteen drill holes on the shallow K1-1 deposit designed to confirm the historic data calculation and facilitate an N1 43-101 compliant resource calculation at K1-1. Later in 2011 Cadillac completed a further exploration program on the K1-1 deposit utilizing two diamond drills rigs and completing a total of twenty-six drill holes. The purpose of this drill program was to upgrade and expand the mineralization and models at K1-1 by infill drilling within the area of the pits and adjacent to the modeled pits, as well as targeting areas under the pits and along strike in the exploration program. Cadillac reported that the assay results of samples from the twenty six holes drilled (see press releases dated January 18, 2012, January 25, 2012 and February 2, 2012) enabled Cadillac to further update the initial K1-1 resource estimate. P&E Mining Consultants completed this mineral resource estimate which was based on a combination of historic drilling by previous project operators and the more recent drilling by Cadillac who reported that the updated inferred mineral resource at K1-1 had been estimated within an economically optimized Whittle pit shell consisting of 53,614,000 tonnes containing 0.38% Copper and 0.10% Nickel using an NSR cut off rate of $ 11/tonne (see press release dated February 14, 2012). The increase in this updated inferred resource over earlier reported inferred resource estimate was due to a number of factors including the results from the twenty-six holes drilled by Cadillac, an increase in the trailing average metal prices, lower projected operating costs at K1-1 which have been derived from a conceptual combination of operations at the K1-1 open pit deposit and the Thierry underground deposit and the inclusion of additional UMEX data not considered earlier. Cadillac subsequently completed a NI 43-101 compliant Technical Report and Resource Estimate which was filed on SEDAR (www.sedar.com) in March 2012. Mr. Brian H. Newton P.Geo, of Billiken Management Services Inc. is the qualified person pursuant to the requirement set out in National Instrument 43-101 has reviewed and approved the technical information above on behalf of the Company. The potential quantity and grade set out in the information above is conceptual in nature. In addition, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. Please see 43-101 report link above for all information regarding this property. Most recent update regarding Thierry: On December 9, 2019, the Company announced it signed an Earn-In Option Agreement with NFR. The agreement related to Cadillac's 100% interest in the Thierry Mine Project. The terms of the agreements are as follows: (i) Within 90 days (by March 9, 2020) NFR will pay a previously agreed upon $300,000 to Cadillac ($75,000 of which has been advanced) following financing of NFR (NFR Financing) to have the right to earn a 51% interest in the property; (ii) NFR will issue 10,000,000 NFR shares to Cadillac, subject to regulatory approvals, within 60 days following the NFR Financing; and (iii) NFR will issue to Cadillac a $1,250,000 not secured by a first charge against NFR's interest in the property. The note will then be retired proportionately to work expenditures on the property as follows: • 30% ($375,000) will be retired on the completion, within 12 months of the NFR Financing closing date, of the $1,250,000 work program appended to the agreement; • 40% ($500,000) will be retired on the delivery of a Feasibility Study by NFR to Cadillac within 24 months of the NFR Financing closing date; and • 30% ($375,000) will be retired on the earlier of acceptance of an Environmental Study or 36 months from the NFR Financing closing date. Should the above terms in any of (i), (ii) or (iii) above independently not be met, then the option shall be null and void. On completion of the 51% earn-in, NFR will have the option to earn a further 10% interest by spending a further $2,000,000 over 2 years. After a 61% interest is earned by NFR, a formal joint venture agreement will be drawn up between the Cadillac and NFR. Burnt Hill The 51% owned Burnt Hill tin, tungsten and molybdenite project acquired by Cadillac in 2008 located near Fredericton, New Brunswick is one claim block covering more than 10,000 hectares. The remaining 49% interest is held by Noront Resources Inc. During the prior year Cadillac announced that it has amended and restated the option agreement with Noront regarding the acquisition of Noront’s remaining 49% interest in the Burnt Hill Tungsten project. This Project includes both a mine site with a decline in place which was previously operated in the 1980’s to a pilot plant stage and several separate projects, based upon known historic showings (Tin Hill, Todd Mountain, McLean Brook and Two and a Half Mile Brook). In July 2013, Cadillac announced the results of their multi-year (6 year) exploration program as contained in an updated, independently produced, resource statement on the Burnt Hill project, prepared by Southampton Associates Inc. The technical report was filed on Sedar.com on August 29, 2013. Southampton estimated an indicated resource of 1,761,000 tonnes averaging 0.292% WO3, 0.007% MoS2 and 0.008% SnO2 as well as an inferred resource of 1,520,000 tonnes averaging 0.263% WO3, 0.008% MoS2 and 0.005% SnO2 using a cut-off grade of 0.07% WO3 in open pit and 0.16% WO3 in underground mining. During the prior year Cadillac announced that it has amended and restated the option agreement with Noront regarding the acquisition of Noront’s remaining 49% interest in the Burnt Hill Tungsten project. Once all milestones and/or date sensitive payments are made, Noront will receive an aggregate of $1.8 million through a combination of cash and shares for their 49% interest over the course of 3.5 years (see press release dated September 27, 2017). Under the terms of the agreement Cadillac then made an initial payment of $ 50,000 in cash and issued 1,000,000 common shares of Cadillac valued at $ 50,000 to Noront. In April 2018 Cadillac made the second of the three payments provided for under the amended and restated option agreement paying $ 75,000 in cash and issuing 1,500,000 common shares of the Company to Noront valued at $ 45,000. The remaining payment for the 49% interest became payable on the earlier of completion of a pre-feasibility study on the project and March 26, 2019. The payment is currently in discussion with Noront regrading the remaining payment. No significant work of a material nature has, as yet, been subsequently carried out on the property. Cadillac is presently pursuing solutions which will permit the recommencement of activities at Burnt Hill. Kirkland Lake/Grenfell Gold Property The Kirkland Lake/Grenfell Gold Property was acquired by Cadillac as part of its acquisition of Richview Resources Inc. in 2010. The property is located west of the town of Kirkland Lake, Ontario, within four kilometres of the producing Macassa Mine. Richview had previously carried out limited work on the property which it did not pursue. During 2014 Cadillac entered into an earn-in option agreement with Anconia Resources Corp. whereby Cadillac granted an option to Anconia to acquire up to a 100% interest in the Kirkland Lake/Grenfell Gold Property. Under the terms of the agreement Anconia acquired a 60% interest in the property during fiscal year 2016 having completed agreed milestones. In April 2017 Anconia exercised its option to acquire 100% ownership interest in the property. Anconia issued 5,000,000 million common shares to Cadillac valued at $ 150,000 to acquire the remaining 40% of the property. Cadillac will retain a 2% net smelter return royalty on the property, of which Anconia is entitled to purchase 1% at any time up to 2 years after the commencement of commercial production, for $1,000,000.
Cadillac signs Thierry earn-in option agreement 2019-12-09 15:13 MT - News Release Mr. Norman Brewster reports CADILLAC VENTURES SIGNS EARN-IN OPTION AGREEMENT Cadillac Ventures Inc. has signed an earn-in option agreement with Northern Fox Resources Inc. The agreement relates to Cadillac's 100-per-cent interest in the Thierry mine property, located in the Pickle Lake area of Ontario. The terms of the agreement are as follows: Within 90 days (by March 9, 2020), Northern Fox will pay a previously agreed upon $300,000 to Cadillac ($75,000 of which has been advanced), following the financing of Northern Fox, to have the right to earn a 51-per-cent interest in the property; Northern Fox will issue 10 million Northern Fox shares to Cadillac, subject to regulatory approvals, within 60 days following the Northern Fox financing; Northern Fox will issue to Cadillac a $1.25-million note secured by a first charge against Northern Fox's interest in the property. The note will then be retired proportionately to work expenditures on the property as follows: 30 per cent ($375,000) to be retired on the completion, within 12 months of the Northern Fox financing closing date of the $1.25-million work program appended to the agreement; 40 per cent ($500,000) to be retired on the delivery of a feasibility study by Northern Fox to Cadillac within 24 months of the Northern Fox financing closing date; 30 per cent ($375,000) to be retired on the earlier of acceptance of an environmental study or 36 months from the Northern Fox financing closing date. Should the above terms independently not be met, then the option shall be null and void. On completion of the 51-per-cent earn-in, Northern Fox will have the option to earn a further 10-per-cent interest by spending a further $2-million over two years. After a 61-per-cent interest is earned by Northern Fox, a formal joint venture agreement will be drawn up between the Cadillac and Northern Fox. © 2020 Canjex Publishing Ltd. All rights reserved.
Here is Northern Fox's financing done in late 2018, it specifically mentions raising money just for the Theirry project. So this deal has been in the works for at least 2 years, if not longer: https://static1.squarespace.com/sta...662675141/Northern+Fox+Greensheet+Q2+2018.pdf CONFIDENTIAL OFFERING MEMORANDUM March 26, 2018 INVESTMENT RATIONALE Initial Private Offering of Northern Fox Resources Inc. (“Fox”) C$4 million at C$0.15 per unit. By fully exploiting the resource at the Thierry copper deposit, we create significant returns for our investors. Copper has a strong underlying, future market. The world is facing a copper deficit. Copper is an important part of the growing global economy from infrastructure, renewable energy, and electric vehicles. In Asia, Brazil, and India, the fundamentals and demand for copper will continue to grow, and become stronger over the next five to 10 years. World-class deposit with resource scale. Thierry is a world-class copper deposit, with very lowcost of production and long-life assets. Both the underground and open-pit deposits are open on strike and depth, providing significant upside deposit potential. Attractive IPO valuation. Long-term investment-grade opportunity at an attractive investment level with significant upside compared to peers. Opportunities to invest in projects with this asset combination of size, economics, infrastructure, and location are rare. Low capital intensity and low-risk. As a past producer, with over C$140 million invested to date, the initial capex to recommission is low for Stage 1 production at C$104 million; a low-risk premium given Thierry’s location within Canada’s stable political and mining jurisdictions, coupled with production economics, whereby 100% of operating costs are Canadian dollars, hedged against US dollar copper price volatility. Management successfully founded and commercialized a producing copper mine. The management team has a proven history of creating shareholder value in the copper mining industry, having successfully commercialized the Aguas Teñidas copper mine, currently producing 4.6 million tonnes of copper a year. Issuer Northern Fox Resources Inc. (the “Company” or “Fox”). Issue Size C$4,000,000. Offering 26,666,667 Common Shares (C$0.15 per share). Issue Price C$0.15 per unit. Flow Through Option The Company has granted the Underwriters an option exercisable in whole or in part, at any one time for a period of 60 days after Closing, to purchase up to an additional 13,333,334 Common Shares (50% of the Offering) at the Offering Price). Basic Shares Outstanding Upon Closing 105,666,667 Common Shares. Dividend Policy Fox does not currently anticipate paying any dividends on the Common Shares. The Company currently intends to use its future earnings and other cash resources for the operation and development of its business, but may declare and pay dividends in the future as operational circumstances permit. Use of Proceeds The Company intends to use the net proceeds from the Offering for general working capital purposes to complete the Bank Feasibility Study, and pursue the Company’s growth strategy. Principal Shareholder At Closing, Founders, Management, and Peblik LLC will, in the aggregate, directly or indirectly, own or control 79,000,000 Common Shares, representing 73% of the issued and outstanding Common Shares of 107,666,667. At Closing of the Flow Through Option, Founders, Management and Peblik Limited will, in the aggregate, directly or indirectly, own or control 79,000,000 Common Shares, representing 35% of the issued and outstanding Common Shares of 222,666,667. Lock-Up Each of the senior officers and directors of the Company and all other shareholders that held a direct or indirect interest in the Company before Closing (the “Lockedup Shareholders”) will be, subject to certain exceptions, subject to lock-up arrangements for 180 days from Closing. The Locked-up Shareholders hold, in the aggregate 79,000,000 Common Shares, representing 75% of the outstanding Common Shares after giving effect to the Offering. Additionally, the Company will be, subject to certain exceptions, subject to lock-up arrangements for 180 days from Closing. Hold Period Subscription receipts have a four month hold but the underlying common shares will be free trading upon conversion of the Subscription Receipts. Eligibility for Investment Eligible for RRSPs, RESPs, RRIFs, TFSAs, DPSPs and RDSPs. Form of Offering Initial private offering in all provinces of Canada pursuant to a long-form prospectus. Private placement in the United States to “qualified institutional buyers” pursuant to Rule 144A under the U.S. Securities Act of 1933. Syndicate Selling Concession 10.0% Closing Expected Q2/Q3 2018 S
43-101 Indicated Resource Has the Following Metals: (Copper, Gold, Silver, Platinum, Palladium, Nickel) Polymetallic Resource > 1,000,000,000 lb Copper > 75,000,000 lb Nickel > 60,000 Oz Gold > 50,000 Oz Platinum > 125,000 Oz Palladium > 4,000,000 Oz Silver Open on strike and at depth – significant expansion potential
Some insider buying this week. Keeping in mind that the CEO has nearly doubled his holdings over the last few years: Filed 2020-01-30 13:57 Tx date 2020-01-30 $CDC Cadillac Ventures Inc. Brewster, Norman 5 - Senior Officer of Issuer Direct Ownership Common Shares 10 - Acquisition or disposition in the public market $525.00 +15,000 vol $0.035 each 6,612,720 Filed 2020-01-29 12:33 Tx date 2020-01-29 $CDC Cadillac Ventures Inc. Brewster, Norman 5 - Senior Officer of Issuer Direct Ownership Common Shares 10 - Acquisition or disposition in the public market $525.00 +15,000 vol $0.035 each 6,597,720
more insider buying Recent filings Filed 2020-02-03 16:30 Tx date 2020-02-03 $CDC Cadillac Ventures Inc. Brewster, Norman 5 - Senior Officer of Issuer Direct Ownership Common Shares 10 - Acquisition or disposition in the public market $600.00 +15,000 vol $0.04 each 6,627,720 Older filings Filed 2020-01-30 13:57 Tx date 2020-01-30 $CDC Cadillac Ventures Inc. Brewster, Norman 5 - Senior Officer of Issuer Direct Ownership Common Shares 10 - Acquisition or disposition in the public market $525.00 +15,000 vol $0.035 each 6,612,720 Filed 2020-01-29 12:33 Tx date 2020-01-29 $CDC Cadillac Ventures Inc. Brewster, Norman 5 - Senior Officer of Issuer Direct Ownership Common Shares 10 - Acquisition or disposition in the public market $525.00 +15,000 vol $0.035 each 6,597,720
Positive news this week on Ring Of Fire. Lots of plays up that way and even some recent property acquisitions last week from two different companies. Looking forward to seeing Cadillac Ventures close their JV deal next week, as per the December news release. Ontario government signs Ring of Fire agreements with 2 northern First Nations : https://globalnews.ca/news/6622081/ring-of-fire-ontario-agreements/ Australians stake more ground near Pickle Lake : https://www.northernontariobusiness...ns-stake-more-ground-near-pickle-lake-2113832 Commander Acquires Gold Project in Pickle Lake, Ontario : https://investingnews.com/daily/res...acquires-gold-project-in-pickle-lake-ontario/
Braveheart Resources to acquire Thierry from Cadillac 2020-08-18 08:25 MT - News Release See News Release (C-BHT) Braveheart Resources Inc Mr. Ian Berzins of Braveheart reports BRAVEHEART RESOURCES ENTERS INTO LETTER OF INTENT FOR PURCHASE OF THIERRY MINE PROJECT Braveheart Resources Inc. has entered into a letter of intent with Cadillac Ventures Inc. for the purchase of a 100-per-cent interest in the Thierry mine project near Pickle Lake, Ont. Under the terms of the LOI, Braveheart will acquire Thierry from Cadillac for the following consideration: (i) $300,000 in cash; (ii) 13,500,000 common shares of Braveheart; and, (iii) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000. Closing of the purchase of Thierry remains subject to the parties entering into a definitive purchase and sale agreement (the "Definitive Agreement"), satisfactory completion of due diligence by Braveheart and the approval of the TSX Venture Exchange. The intention of Braveheart and Cadillac is to finalize the Definitive Agreement, which will include customary terms and conditions including representations and warranties, and close the purchase of Thierry by Braveheart within the next 30 days. The Thierry copper-nickel platinum group elements ("PGE") deposit was discovered by Union Miniere Exploration and Mining ("UMEX") of Belgium in 1969 and mined through open pit and underground workings between 1976 and 1982. The mine was shut down due to low commodity prices. Based on historical records UMEX milled 5,800,000 short tons of copper and nickel mineralized material from the deposit with an average grade of 1.13% Cu and 0.14% Ni. In addition, precious metals payables included 47,000 ounces of palladium, 17,000 ounces of gold, 17,500 ounces of platinum and 900,000 ounces of silver. The most recent independent National Instrument 43-101 ("NI 43-101") Technical Report and Resource Estimate was completed by P&E Mining Consultants Inc. in February 2012 (the "2012 Thierry Technical Report") and is available on Cadillac's SEDAR profile at www.sedar.com. The 2012 Thierry Technical Report estimates a measured and indicated resource at the Thierry underground of 8,815,000 tonnes at a grade of 1.66% Cu and 0.19% Ni. Additional measured and indicated metal values include 0.13 gpt Pd, 0.05 gpt Au, 0.04 gpt Pt and 4.0 gpt Ag. There are a further 14,922,000 tonnes in an inferred category at a grade of 1.64% Cu and 0.16% Ni. Additional inferred metal values include 0.21 gpt Pd, 0.10 gpt Au, 0.07 gpt Pt and 6.4 gpt Ag. The Thierry project also contains a near surface inferred resource at the K1-1 deposit. The K1-1 deposit contains 53,614,000 tonnes at a grade of 0.38% Cu and 0.10% Ni. Additional inferred metal values include 0.14 gpt Pd, 0.03 gpt Au, 0.05 gpt Pt and 1.83 gpt Ag. The reader is cautioned that a Qualified Person has not done sufficient work to classify the mineral resources stated in the 2012 Thierry Technical Report as current resources. Braveheart is not treating this historical estimate as current mineral resources. While this estimate was prepared in accordance with NI 43-101 and CIM 2005 in effect at the time, there is no guarantee that it would be consistent with current standards and it should not be regarded as such. Braveheart has not undertaken any independent verification of the data upon which the historical estimates are based. The historical estimate is considered relevant to assess the mineralization potential of the property. The Thierry Mine Project is located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size. There is a municipal airport and nearby rail system and the provincial power grid is within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded. Norman Brewster, President and CEO of Cadillac stated: "We believe the proposed transaction is a compelling one to Cadillac and its shareholders, providing a significant cash injection, continued exposure and upside to any success on Thierry and exposure to a broader property package through the proposed proforma ownership in Braveheart. The combination of Thierry with Braveheart's assets is a natural one, and will create a meaningful consolidated and highly prospective land package and the ability to accelerate unlocking value". Ian Berzins, President and CEO of Braveheart commented: "The proposed acquisition of the Thierry Mine Project represents a significant next step in the growth of our Company. The project is very complimentary to our Bull River underground copper, gold and silver mine in British Columbia and provides the Company with project and geographic diversification. Braveheart is focused on acquiring and developing past-producing assets, in favourable Canadian jurisdictions with existing mineral resources in place. We were particularly drawn to this opportunity because of the significant infrastructure already in place and the proximity to roads, grid power and established mining communities". Qualified person Braveheart's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Ian Berzins P.Eng., who serves as president, chief executive officer and a director of the Company and is a qualified person under the definition of National Instrument 43-101. About Braveheart Resources Inc. Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favourable and proven mining jurisdictions of the East and West Kootenays of British Columbia. Braveheart's main asset is the Bull River Mine project which has a current mineral resource containing copper, gold and silver. The property is fully developed with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads. We seek Safe Harbor. © 2020 Canjex Publishing Ltd. All rights reserved.
Braveheart Resources and Cadillac Ventures Enter into Definitive Agreement for Purchase and Sale of Thierry Mine Project 2020-10-21 07:00 MT - News Release CALGARY, AB and TORONTO, ON / ACCESSWIRE / October 21, 2020 / Braveheart Resources Inc. (BHT) (RIINF) ("Braveheart") and Cadillac Ventures Inc. (TSXV:CDC) (OTC PINK:CADIF) ("Cadillac") are pleased to announce that they have entered into a definitive share purchase agreement (the "Definitive Agreement") with respect to the previously announced (see press release of August 18, 2020) purchase by Braveheart of a 100% interest in the Thierry Mine Project (the "Thierry Project") near Pickle Lake, Ontario from Cadillac. Under the terms of the agreement, Braveheart will acquire 100% of the shares of Cadillac's wholly-owned subsidiary Cadillac Ventures Holdings Inc., which owns Cadillac's interest in the Thierry Project, for the following consideration: (i) $300,000 in cash; (ii) 13,500,000 common shares of Braveheart; and (iii) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000. The acquisition of the Cadillac Ventures Holdings includes approximately $405,000 in cash, which supports closure obligations associated with the property. The Thierry Project is a past-producing copper and nickel mine located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size and contains a NI 43-101 mineral resource. There is a municipal airport, nearby rail system and provincial power grid within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded. Cadillac has scheduled a shareholder meeting for November 11, 2020 for the purpose of obtaining the approval of Cadillac shareholders for the sale of the Thierry Project. The transaction is expected to close in November 2020 and is subject to regulatory and third party approvals and customary conditions precedent. About Braveheart Resources Inc. Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable and proven Canadian mining jurisdictions. Braveheart's main asset is the Bull River Mine project near Cranbrook, British Columbia which has a current mineral resource containing copper, gold and silver. About Cadillac Ventures Inc. Cadillac Ventures Inc. is an exploration company listed on the TSX-V. Following the sale of Cadillac Ventures Holdings Inc. Cadillac's asset is the Burnt Hill Tungsten property located in New Brunswick, which contains a NI 43-101 mineral resource. Cadillac is presently valuating other mineral opportunities. Contact Information Braveheart Resources Inc. Ian Berzins President & Chief Executive Officer 1-403-512-8202 [email protected] Website: www.braveheartresources.com Contact Information Cadillac Ventures Inc. Norman Brewster President & Chief Executive Officer 1-905-837-2000 [email protected] For more investor information, please contact Braveheart at: Kevin Shum O: +1-647-725-3888 Ext 702 M: +1-604-376-0323 E: [email protected] E: [email protected]
Is it just me, or are others thinking that many of the "junior" miners are more interested in getting "share purchase agreements" than actually doing any mining? Personally I am more interested in the miners mining than drilling more holes to see what else is down there. Without actually producing anything the only real chance of making any money is if they are sold to someone else at a higher stock price. In regards to Cadillac Ventures, the Thierry Project is really just a pump-and-dump type of scheme. They are "selling" all the advantages of the surrounding area (like municipal airport, nearby rail system and provincial power grid within eight km of the mine). If the mine was actually working it would be different. Flooded tunnels can be pumped out but the water causes damage that has to be corrected. That takes time and money. That said, I have invested in some junior miners that aren't producing. Like Fortune Minerals. At least they are building the all-season road and are actively working towards their goals. First Cobalt is another one. With them however they seem hesitant to restart the refinery. I would think they could restart and make something now, expanding the plant later. Instead they are working towards the expansion before restarting. Hope it works for them. Perhaps most of them are waiting for low interest government loans before making any commitments. Like I said, maybe it's just me.
I was surprised to see them sell the deal, but at the same time maybe there's something better in the works? After all, Thierry was a low grade deposit, with the exception of the copper and that was pretty average stuff. But the gold,silver, platinum, palladium, etc, all low. When a company has a multi billion dollar asset and trades at a fraction of a percent to it's value, that's when the market would rather see them dispose of it and do something else.
Wouldn't the market prefer that they had determined all those negatives before they invested in it in the first place? Still sounds as if they had no intentions of actually mining and are just after investors money. I personally don't trust them to produce anything.
Keep in mind that Cadillac bought Thierry back in 2010, near the peak of the metals market when copper was around $4 a pound vs $3. Yes that deposit has gold, silver, copper, nickel, platinum, palladium, etc, plus infrastructure in place(mind you some of it needed to be upgraded), but Cadillac wasn't going to try and raise the $20 million needed to get it started again, nor did management have those kinds of connections. So you are right in that whoever made the call to buy Thierry a decade ago, they should of considered a lot more things. But again, CDC was around $2 a share, so raising 10 million shares at the time would of been their most optimal time. Then the 2011 bull run for metals came to an end, the project just sat dormant. Now that prices are back up on most, company just said screw it, lets sell this and move on.
Cadillac Ventures Inc. and KFG Resources Ltd. Agrees to Pursue an Amalgamation TORONTO, ON / ACCESSWIRE / November 4 , 2020 / Cadillac Ventures Inc. (TSXV:CDC)(OTC PINK:CADIF) and KFG Resources Ltd. (KFG) (KFGRF) have signed a letter of intent to pursue an amalgamation, with the support of both boards, subject to approval by shareholders of each company and TSXV approval. The amalgamation will proceed with an exchange of KFG common shares for Cadillac common shares on a one for one basis. The companies believe that the amalgamation will create significant value for both shareholder groups. As such, the boards of directors of both companies have agreed specific terms of the proposed transaction will be determined based on corporate, tax and securities laws and other considerations. The principals of both Cadillac and KFG will provide support agreements for the transaction. Following completion of the amalgamation, Cadillac will proceed to effect a consolidation of its shares, expected to be on a 1 for 3 basis. The directors of KFG wish to thank their shareholders for their support during the downturn of the oil market over the past several years. We believe that the proposed transaction with Cadillac can create a new and more impressive company with diversified assets, cash flows and reduced costs to make our oil production more lucrative. Both Mr. Haney and Mr. Grassi approve of the transaction and urge all KFG shareholders to follow suit. The directors of Cadillac believe that the cash flow provided by the oil revenue related to this transaction will allow the company to be more effective in the review and acquisition of additional mineral properties. The directors urge Cadillac shareholders to support the transaction. Contact Information For more information regarding Cadillac, please visit the Company's website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 416 970-3223. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release. SOURCE: Cadillac Ventures Inc. View source version on accesswire.com: https://www.accesswire.com/614345/C...esources-Ltd-Agrees-to-Pursue-an-Amalgamation
Cadillac Ventures Inc. Announces the Results of Its Annual General and Special Meeting 2020-11-12 06:02 MT - News Release TORONTO, ON / ACCESSWIRE / November 12, 2020 / Cadillac Ventures Inc. (the "Corporation") (TSXV:CDC)(OTC PINK:CADIF) ("Cadillac") is pleased to announce the results of the Corporation's Annual General and Special Meeting ("AGM") of Shareholders which was held on November 11th at the Corporation's head office in Pickering. The Corporation is pleased to report that all items that were set out in the Notice of the Meeting were duly passed at the AGM including the approval of the sale of the Thierry Mine Project, the appointment of Dale Matheson Carr-Hilton Labonte LLP., as the Corporation's Auditor, the re-approval of the Corporation's current stock option plan, the approval to grant the directors of the Corporation the ability to undertake a consolidation of the Corporations share capital at a range between a one for three and a one for ten basis, and the election of the Directors (Norman Brewster, Neil Novak, Maurice Stekel and Rahim Allani). Contact Information For more information regarding Cadillac, please visit the Company's website www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 905 837 2000.
Cadillac enters definitive deal to buy KFG 2021-02-09 17:45 MT - News Release Mr. Norman Brewster reports CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ENTER INTO ARRANGEMENT AGREEMENT In connection with their previously announced letter of intent, Cadillac Ventures Inc. and KFG Resources Ltd. have entered into a definitive arrangement agreement dated Feb. 8, 2021, pursuant to which, among other things, Cadillac will acquire all of the issued and outstanding common shares of KFG. Under the arrangement agreement, KFG shareholders will be entitled to receive one common share of Cadillac in exchange for each KFG common share held. The arrangement agreement will be filed on Cadillac's SEDAR profile on the SEDAR website. KFG, through its wholly-owned subsidiary KFG Petroleum Corporation ("KFG Petroleum"), owns primary producing oil reserves in the United States. Following completion of the Transaction KFG will become a wholly-owned subsidiary of Cadillac, and Cadillac will thus have an interest in these oil reserves. In particular, KFG Petroleum owns primary producing oil reserves located on the Spring Hill lease, Fayette Field, and Jefferson County, Mississippi. Additionally, KFG Petroleum owns two shut-in gas wells in Jefferson County, Mississippi. Furthermore, KFG owns an interest in twelve additional oil wells in Adams, Franklin, and Jefferson counties, Mississippi, all of which have future value. Based on information as of April 30, 2020, contained in KFG's most recent Form 51-101F1, three of the five Spring Hill reserves comprise approximately 91.8% of KFG's proved oil reserves and 60.8% of KFG's proved plus probable oil reserves. KFG does not have any future gas reserves, while future oil reserves account for 100% of KFG's future net revenue attributable to its proved plus probable reserves. Detailed information regarding the oil and natural gas reserve data for KFG Petroleum Corporation can be found in its most recent Form 51-101F1 dated April 30, 2020, which is available under KFG's SEDAR profile. The Transaction will be effected by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by at least 66 2/3% of votes cast by KFG shareholders present in person or represented by proxy at a special meeting of KFG shareholders to be called in connection with the Transaction (the "Meeting") in addition to any minority approval required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. In addition to KFG shareholder approval, closing of the Transaction is subject to the receipt of certain regulatory, court and stock exchange approvals and the satisfaction of other closing conditions customary in transactions of this nature. The Transaction has been unanimously approved by the board of directors of both KFG and Cadillac. Following completion of the Transaction, it is anticipated one KFG director will be appointed to the Cadillac board of directors and a second KFG nominee will be appointed at Cadillac's next annual shareholders meeting. KFG common shares will be delisted from the TSXV.
