Cameo Neighbor Announces Closing of US $350M Bond Offering
VANCOUVER, British Columbia, May 11, 2018 (GLOBE NEWSWIRE) -- Cameo Resources Corp. (TSX Venture:CRU) (OTC:CRUUF) (FWB:SY7D) (the “Company” or “Cameo Resources”) is pleased to note that Nemaska Lithium Inc. has priced and closed the books on its offering of senior secured callable bonds in the aggregate principal amount of $ 350-million (U.S.).
As reported by Nemaska Lithium (news release dated May 10, 2018) the Bonds will be senior debt of the Corporation and guaranteed by Nemaska Lithium Whabouchi Mine Inc. ("NMX Whabouchi") and Nemaska Lithium Shawinigan Transformation Inc. ("NMX Shawinigan"), each a wholly-owned subsidiary of the Corporation. Subject to certain exceptions, the Bonds will be secured on a first priority basis over all material assets (tangible and intangible) of the Corporation, NMX Whabouchi and NMX Shawinigan, and will also be secured by a second ranking pledge of the shares of Nemaska Lithium P1P Inc., another wholly owned subsidiary of the Corporation.
Nemaska Lithium Inc. holds the Whabouchi Lithium deposit claims, which extend to within 1 km of Cameo’s Montagne Lake Property in central Québec. Nemaska Lithium’s Whabouchi lithium deposit is one of the most important spodumene lithium deposits in the world, and Nemaska Lithium is currently raising funds for the construction and commissioning of its proposed Whabouchi Mine and Shawinigan Plant project.
Cameo’s Whabouchi Regional Lithium (“WRL”) Project in Quebec covers more than 19,000 ha in two blocks on either side of Nemaska’s proposed Whabouchi lithium mine including Cameo’s 4,484 ha Montagne Lake Property immediately to the west of Nemaska’s proposed Whabouchi lithium mine, and the Dumont Property 6 km to the east.
Although Nemaska Lithium’s proposed mine at Whabouchi is proximal to Cameo’s WRL Project, the spodumene lithium mineralization on Nemaska’s ground is not necessarily indicative of similar mineralization on Cameo’s property and Cameo’s qualified person is unable to independently verify the information reported by Nemaska Lithium Inc.
The Company is also pleased to announce the launch of the company's redesigned website, http://cameocorp.ca/. Cameo encourages all current and potential shareholders to visit the website to explore the completed rebranding and redesign initiatives.
Harrison Cookenboo, Ph.D., P.Geo., is a qualified person as defined in National Instrument 43-101. He has reviewed and is responsible for the presentation of technical information in this news release.
CAMEO RESOURCES CORP.
“Akash Patel”
Akash Patel
President
(778) 549-6714
Email: akashp006@gmail.com
www.cameoresources.com
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.