Canadian Metals Inc. (CNSX:CME) acquired Block 8874 adjoining the new LG discovery at Gold Strike Project, NB for CAD 0.09 million on May 3, 2022. Pursuant to the Agreement, Canadian Metals Inc. paid CAD 0.035 million in cash and issued 500,000 common shares. The shares issued pursuant to the Agreement will be subject to a four-month hold period ending September 3, 2022. The claims is subject to a 2% net smelter returns royalty of which Canadian Metals Inc. has the right to repurchase 1% for CAD 1 million. Canadian Metals Inc. also announces that it is arranging a private placement at a price of CAD 0.1 per unit for aggregate gross proceeds of up to CAD 0.5 million.

Canadian Metals Inc. (CNSX:CME) completed the acquisition of Block 8874 adjoining the new LG discovery at Gold Strike Project, NB on May 3, 2022.