Business
The Canadian Chrome Company Inc. Announces Award of Units to Its CEO Under Its Executive Compensation Plan
Toronto, Ontario--(Newsfile Corp. - September 9, 2025) - The Canadian Chrome Company Inc. (CSE: CACR) (CSE: CACR.A) (formerly KWG Resources Inc.) ("CCC", "KWG" or the "Company") is pleased to report that it has awarded its Chief Executive Officer (the "CEO"), Frank Smeenk, a bonus of $1,000,000 (the "Compensation Amount") as deferred compensation pursuant to the Company's Executive Compensation Plan. The Compensation Amount is payable pursuant to a deferred compensation arrangement in...
About this update from Canadian Chrome Company Inc.
[{"type":"text","content":"Toronto, Ontario—(Newsfile Corp. - September 9, 2025) - The Canadian Chrome Company Inc. (CSE: CACR) (CSE: CACR.A) (formerly KWG Resources Inc.) ("CCC", "KWG" or the "Company") is pleased to report that it has awarded its Chief Executive Officer (the "CEO"), Frank Smeenk, a bonus of $1,000,000 (the "Compensation Amount") as deferred compensation pursuant to the Company's Executive Compensation Plan. The Compensation Amount is payable pursuant to a deferred compensation arrangement in accordance with the exception under clause (k) of the definition of "salary deferral arrangement" in the Income Tax Act (Canada), to be paid to the CEO within three years after the end of the current calendar year, namely on or before December 31, 2028 (the "Outside Date"). The Compensation Amount is payable by delivery of 657,894 units (the "Compensation Units") to the CEO on or before the Outside Date at deemed price of $1.52 per Compensation Unit. Each Compensation Unit is comprised of one (1) CACR.A multiple-voting share and one (1) share purchase warrant enabling its holder to acquire one further CACR.A multiple-voting share from treasury upon payment of an exercise price of $1.90 at any time on or before the earlier of (i) September 9, 2030 or (ii) two (2) business days after completion of a take-over bid or a merger, amalgamation, arrangement or other form of business combination as a result of which the shareholders of the Company immediately prior to such bid or business combination do not own a majority of votes attaching to the voting securities of the Company or of the resulting issuer or do not have the power to elect a majority of the directors of the Company or of the resulting issuer, as the case may be, after completion of such bid or business combination. The Compensation Units were issued to a trustee (the "Private Placement") to be held and delivered in accordance with the Executive Compensation Plan.","length":2027,"tagName":"p"},{"type":"text","content":"The Private Placement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as a result of the issuance of the Compensation Units. A formal valuation was ...