Canadian Chrome arranges $25-million private placement

Executive Summary

• The Canadian Chrome Company Inc. has announced a proposed private placement of up to 12.5 million flow-through shares at $2.00 per share, targeting gross proceeds of up to $25 million.
• The capital raise is specifically earmarked to fund a large-scale winter drilling program at the Black Horse Chrome Discovery in the Ring of Fire, scheduled to commence in early 2026.
• The company confirmed its continuing financial and operational support for the Muketi village and aerodrome business unit of the Marten Falls First Nation, which will serve as the logistical hub for the proposed drilling activities.

Key Details

• Financing Structure: Proposed private placement of up to 12.5 million multiple voting shares.
• Share Type: Flow-through shares pursuant to the Income Tax Act (Canada).
• Price: $2.00 per share.
• Gross Proceeds: Up to $25 million.
• Investor Qualification: Accredited investors or those qualifying for a prospectus-exempt purchase under applicable securities laws.
• Use of Proceeds:
  • Funding a large drilling program at the Black Horse project starting in early 2026.
  • Launching operations from Muketi village.
  • Confirming geological beliefs regarding the Black Horse discovery (specifically testing if deep-penetrating magnetotelluric geophysical survey data indicates a fault offset twin of the Black Thor discovery).
• Regulatory/Permit Status: Drilling to be undertaken under exploration permit PR-23-000242, received from the Ministry of Mining with unanimous consent/support from all nine First Nations in the area.
• Indigenous Support Initiatives:
  • Continued support for the Muketi village and Aerodrome business unit of the Marten Falls First Nation (MFFN).
  • Support for transportation, electrification, and other services for First Nations communities along the route to the Ring of Fire.
  • Previous efforts included proposing a port authority for federal financial access and proposing the transfer of subsidiary claims and aggregate permit applications to a trust/entity for a transportation and electrification enterprise owned by First Nations.

Notable Quotes

• "The company is pleased to announce a proposed private placement of up to 12.5 million multiple voting shares at a price of $2 per share issued as flow-through shares... for gross proceeds of up to $25-million."
• "The gross proceeds are proposed to be used for a large drilling program at the Black Horse project starting in early 2026... to confirm CCC's belief that the very large targets illustrated by the deep-penetrating magnetotelluric geophysical survey completed by CCC in 2022 is the fault offset twin of the Black Thor, which, if correct, would vastly improve CCC's opinion of the magnitude of the Black Horse discovery."