CCC Announces Closing of the First Tranche of Private Placement of Units

About this update from Canadian Chrome Company Inc.

Toronto, Ontario--(Newsfile Corp. - May 11, 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 the closing today of the first tranche of its previously announced non-brokered unit private placement (the "Private Placement") (see the Company's news releases dated March 18, 2026 and May 1, 2026) by issuance of an aggregate of 61,142 units (each a "Unit") at a price of $1.40 per Unit for aggregate gross proceeds of $85,600. Each Unit is comprised of one (1) multiple voting share of the Company (each, a "Multiple Voting Share") and one (1) warrant of the Company (each, a "Warrant"), with each such Warrant entitling the holder to purchase one further Multiple Voting Share upon payment of $1.50 at any time on or before the earlier of (i) May 11, 2031 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 (each a "Change of Control"). The following insiders of the Company (each an "Insider") participated in the Private Placement for an aggregate of 16,142 Units representing the equivalent of 0.10% of the Company's issued and outstanding multiple voting shares (calculated on the basis of conversion of the subordinate voting shares into multiple voting shares on a ratio of 100:1) on a partly diluted basis following closing of the Private Placement: The Company paid finder's fees of 5% of the aggregate amount subscribed for by subscribers referred to the Company by finders entitled to receive such fees in accordance with applicable securities laws, which fees aggregated $3,150 and were paid by issuing 2,250 Units at deemed price of $1.40 per Unit. The proceeds from the Private Placement will be used to fund the Company's business focused on the acquisition of interests in, and the exp...

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