The Canadian Chrome Company Inc. Delivers Notice of Extension of Maturity Date for Its Secured Convertible Promissory Note and Grants Stock Options

Executive Summary

• The Canadian Chrome Company (CCC) has extended the maturity date of its $34.5 million Secured Convertible Promissory Note with Fancamp Exploration Ltd. from September 1 2026 to August 31 2027.
• CCC retained Origin Merchant Partners as a financial advisor to evaluate strategic options, including a potential sale or joint‑venture transaction that could occur before the original note maturity date.
• On February 27 2026 the Company granted 2,677,600 stock options to directors, officers and certain consultants at an exercise price of $1.60 per share, vesting immediately and expiring within five years.

Key Details

• Note Extension: Original issuance – September 1 2022; principal amount – $34,500,000; maturity extended to August 31 2027.
• Purpose of Extension: Provides additional time for CCC to explore strategic alternatives (sale, merger, joint venture, etc.) that may resolve the note before its original maturity.
• Financial Advisor Engagement: Origin Merchant Partners engaged to assess strategic options and potential transactions.
• Stock Option Grant: 2,677,600 options granted; exercise price $1.60 per share; multiple‑voting shares; vesting immediate; expiration five years from grant date (Feb 27 2026).
• Strategic Context: CCC continues to focus on the “Koper Lake‑McFaulds” mineral properties in Ontario’s Ring of Fire, seeking development and possible divestiture opportunities.

Notable Quotes

“We believe that these efforts may result in a transaction in the coming months… possibly before the original maturity date of the Secured Convertible Promissory Note,” – Frank Smeenk, CEO, Canadian Chrome Company Inc.