Business
Canadian Chrome Company Delivers Notice of Extension of Maturity Date for Its Secured Convertible Promissory Note and Grants Stock Options
Toronto, Ontario--(Newsfile Corp. - March 2, 2026) - The Canadian Chrome Company Inc., (CSE: CACR) (CSE: CACR.A) formerly known as KWG Resources Inc. ("CCC" or
About this update from Canadian Chrome Company Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - March 2, 2026) - The Canadian Chrome Company Inc., (CSE: CACR) (CSE: CACR.A) formerly known as KWG Resources Inc. (\"CCC\" or the \"Company\"), is pleased to announce that it has given notice to Fancamp Exploration Ltd. (\"Fancamp\") to extend the maturity date of the Secured Convertible Promissory Note from September 1, 2026, to August 31, 2027. The $34,500,000 Secured Convertible Promissory Note was issued by the Company to Fancamp on September 1, 2022, in connection with the Company's acquisition of Fancamp's interest in the \"Koper Lake-McFaulds\" mineral properties located in the \"Ring of Fire\" in the Province of Ontario. \"As recently announced, the Company has retained the services of Origin Merchant Partners as the Company's financial advisor to assist with consideration of the Company's strategic position and assessment of the Company's strategic options and alternatives, including investigating the possibilities of a sale or divestiture of the Company, whether by merger, consolidation, reorganization or business combination, or by take-over bid, negotiated purchase or other means or possible joint venture or sale of substantially all of the assets of the Company,\" said Frank Smeenk, Chief Executive Officer of the Company. \"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, making the extension of the maturity date of the Secured Convertible Promissory Note unnecessary. However, in case that does not occur before the current maturity date, we believe that it is prudent to extend the maturity date to address that possibility.\" The Company also announces the grant on February 27, 2026, to directors, officers and certain consultants of the Company of an aggregate of 2,677,600 stock options pursuant to the provisions of the Company's stock option plan. Each stock option entitles the holder to purchase one multiple voting share of the Company at an exercise price of $1.60 per share, vesting immediately and expiring within 5 years from the date of grant. About The Canadian Chrome Company Inc. The Canadian Chrome Company Inc. is an exploration stage company that is focused on identification, acquisition, consolidation, exploration, development and evaluation of...