{"success":true,"data":{"pressRelease":{"id":"30409","rtpr_id":"nNFC92Vfd3","ticker":"CACR","exchange":"","all_tickers":["CACR"],"title":"CCC Announces Closing of the First Tranche of Private Placement of Units","author":"Newsfile Corp","published_at":"2026-05-11T20:15:17.199Z","article_body":"Toronto, Ontario--(Newsfile Corp. - May 11, 2026) - The Canadian Chrome\nCompany Inc.  (CSE: CACR) (CSE: CACR.A) formerly known as KWG Resources\nInc. (\"CCC\" or the \"Company\") is pleased to announce the closing today of the\nfirst tranche of its previously announced non-brokered unit private placement\n(the \"Private Placement\") (see the Company's news releases dated March 18,\n2026 and May 1, 2026) by issuance of an aggregate of 61,142 units (each a\n\"Unit\") at a price of $1.40 per Unit for aggregate gross proceeds of $85,600.\nEach Unit is comprised of one (1) multiple voting share of the Company (each,\na \"Multiple Voting Share\") and one (1) warrant of the Company (each, a\n\"Warrant\"), with each such Warrant entitling the holder to purchase one\nfurther Multiple Voting Share upon payment of $1.50 at any time on or before\nthe earlier of (i) May 11, 2031 or (ii) two (2) business days after completion\nof a take-over bid or a merger, amalgamation, arrangement or other form of\nbusiness combination as a result of which the shareholders of the Company\nimmediately prior to such bid or business combination do not own a majority of\nvotes attaching to the voting securities of the Company or of the resulting\nissuer or do not have the power to elect a majority of the directors of the\nCompany or of the resulting issuer, as the case may be, after completion of\nsuch bid or business combination (each a \"Change of Control\").\n\nThe following insiders of the Company (each an \"Insider\") participated in the\nPrivate Placement for an aggregate of 16,142 Units representing the equivalent\nof 0.10% of the Company's issued and outstanding multiple voting shares\n(calculated on the basis of conversion of the subordinate voting shares into\nmultiple voting shares on a ratio of 100:1) on a partly diluted basis\nfollowing closing of the Private Placement:\n\n Name and Position with the Corporation  No. of Multiple Voting Shares held (and %) prior to Private Placement  No. of Multiple Voting Shares issued under the Private Placement and issuable upon exercise of warrants (and %)  No. of Multiple Voting Shares held (and %) following completion of Private Placement  \n Donald Sheldon                          349,460                                                                32,284                                                                                                           365,602                                                                               \n  Director and Officer                   (1.07%)                                                                (26.40%)                                                                                                         (1.11%)                                                                               \n\nThe Company paid finder's fees of 5% of the aggregate amount subscribed for by\nsubscribers referred to the Company by finders entitled to receive such fees\nin accordance with applicable securities laws, which fees aggregated $3,150\nand were paid by issuing 2,250 Units at deemed price of $1.40 per Unit.\n\nThe proceeds from the Private Placement will be used to fund the Company's\nbusiness focused on the acquisition of interests in, and the exploration,\nevaluation and development of, large-scale mineral deposits of chromite and\nother base metals and minerals including, without limitation, funding the\nCompany's overhead and operating expenses and the costs of this Private\nPlacement.\n\nAll of the securities issued pursuant to this Private Placement are subject to\na four (4) month hold period.\n\nThe Private Placement, in part, is a \"related party transaction\" within the\nmeaning of Multilateral Instrument 61-101 - Protection of Minority Security\nHolders in Special Transactions (\"MI 61-101\") as Insiders purchased Units. A\nformal valuation was not required under MI 61-101 because the Company is not\nlisted on any of the stock exchanges specified in MI 61-101. Minority\nshareholder approval was also not required as the fair market value of the\nconsideration for the transaction involving the Insiders does not exceed 25\npercent of the Company's capitalization as of the date hereof, which is\napproximately $60 million. In view of the short time between the date of the\nsubscription by the related parties and the date of the closing of this\ntranche, the frequent participation of insiders in past private placements\nundertaken by the Company and the relatively small effect on the Company's\ncapitalization on completion of this Private Placement, the Company considered\nit reasonable not to announce this related party transaction 21 days in\nadvance of closing.\n\nAbout The Canadian Chrome Company Inc.\nThe Canadian Chrome Company Inc. is an exploration stage company that is\nfocused on identification, acquisition, consolidation, exploration,\ndevelopment and evaluation of large-scale deposits of minerals including\nchromite in the Ring of Fire, as well as other base metals and strategic\nminerals and, where applicable, support for the development of transportation\nand electrification links to access remote areas where these deposits may be\nlocated.\n\nFor further information, please contact:\nBruce Hodgman, Vice-President: 416-642-3575 ~ info@canadachrome.com\n\nForward-Looking Statements: Information set forth in this news release may\ninvolve forward-looking statements under applicable securities laws. The\nforward-looking statements contained herein are expressly qualified in their\nentirety by this cautionary statement. The forward-looking statements included\nin this document are made as of the date of this document and the Company\ndisclaims any intention or obligation to update or revise any forward-looking\nstatements, whether because of new information, future events or otherwise,\nexcept as expressly required by applicable securities legislation. Although\nmanagement believes that the expectations represented in such forward-looking\nstatements are reasonable, there can be no assurance that such expectations\nwill prove to be correct.\n\nDisclaimer: Neither the Canadian Securities Exchange nor its Regulation\nServices Provider (as that term is defined in the policies of the CSE) accepts\nresponsibility for the adequacy or accuracy of this news release.\n\nNot for distribution to U.S. newswire services or for release, publication,\ndistribution or dissemination, directly or indirectly, in whole or in part,\ninto the United States\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/297009","article_body_html":"","raw_payload":{"data":{"id":"nNFC92Vfd3","title":"CCC Announces Closing of the First Tranche of Private Placement of Units","author":"Newsfile Corp","ticker":"CACR","created":"2026-05-11T20:15:17.199Z","tickers":["CACR"],"exchange":"","article_body":"Toronto, Ontario--(Newsfile Corp. - May 11, 2026) - The Canadian Chrome\nCompany Inc.  (CSE: CACR) (CSE: CACR.A) formerly known as KWG Resources\nInc. (\"CCC\" or the \"Company\") is pleased to announce the closing today of the\nfirst tranche of its previously announced non-brokered unit private placement\n(the \"Private Placement\") (see the Company's news releases dated March 18,\n2026 and May 1, 2026) by issuance of an aggregate of 61,142 units (each a\n\"Unit\") at a price of $1.40 per Unit for aggregate gross proceeds of $85,600.\nEach Unit is comprised of one (1) multiple voting share of the Company (each,\na \"Multiple Voting Share\") and one (1) warrant of the Company (each, a\n\"Warrant\"), with each such Warrant entitling the holder to purchase one\nfurther Multiple Voting Share upon payment of $1.50 at any time on or before\nthe earlier of (i) May 11, 2031 or (ii) two (2) business days after completion\nof a take-over bid or a merger, amalgamation, arrangement or other form of\nbusiness combination as a result of which the shareholders of the Company\nimmediately prior to such bid or business combination do not own a majority of\nvotes attaching to the voting securities of the Company or of the resulting\nissuer or do not have the power to elect a majority of the directors of the\nCompany or of the resulting issuer, as the case may be, after completion of\nsuch bid or business combination (each a \"Change of Control\").\n\nThe following insiders of the Company (each an \"Insider\") participated in the\nPrivate Placement for an aggregate of 16,142 Units representing the equivalent\nof 0.10% of the Company's issued and outstanding multiple voting shares\n(calculated on the basis of conversion of the subordinate voting shares into\nmultiple voting shares on a ratio of 100:1) on a partly diluted basis\nfollowing closing of the Private Placement:\n\n Name and Position with the Corporation  No. of Multiple Voting Shares held (and %) prior to Private Placement  No. of Multiple Voting Shares issued under the Private Placement and issuable upon exercise of warrants (and %)  No. of Multiple Voting Shares held (and %) following completion of Private Placement  \n Donald Sheldon                          349,460                                                                32,284                                                                                                           365,602                                                                               \n  Director and Officer                   (1.07%)                                                                (26.40%)                                                                                                         (1.11%)                                                                               \n\nThe Company paid finder's fees of 5% of the aggregate amount subscribed for by\nsubscribers referred to the Company by finders entitled to receive such fees\nin accordance with applicable securities laws, which fees aggregated $3,150\nand were paid by issuing 2,250 Units at deemed price of $1.40 per Unit.\n\nThe proceeds from the Private Placement will be used to fund the Company's\nbusiness focused on the acquisition of interests in, and the exploration,\nevaluation and development of, large-scale mineral deposits of chromite and\nother base metals and minerals including, without limitation, funding the\nCompany's overhead and operating expenses and the costs of this Private\nPlacement.\n\nAll of the securities issued pursuant to this Private Placement are subject to\na four (4) month hold period.\n\nThe Private Placement, in part, is a \"related party transaction\" within the\nmeaning of Multilateral Instrument 61-101 - Protection of Minority Security\nHolders in Special Transactions (\"MI 61-101\") as Insiders purchased Units. A\nformal valuation was not required under MI 61-101 because the Company is not\nlisted on any of the stock exchanges specified in MI 61-101. Minority\nshareholder approval was also not required as the fair market value of the\nconsideration for the transaction involving the Insiders does not exceed 25\npercent of the Company's capitalization as of the date hereof, which is\napproximately $60 million. In view of the short time between the date of the\nsubscription by the related parties and the date of the closing of this\ntranche, the frequent participation of insiders in past private placements\nundertaken by the Company and the relatively small effect on the Company's\ncapitalization on completion of this Private Placement, the Company considered\nit reasonable not to announce this related party transaction 21 days in\nadvance of closing.\n\nAbout The Canadian Chrome Company Inc.\nThe Canadian Chrome Company Inc. is an exploration stage company that is\nfocused on identification, acquisition, consolidation, exploration,\ndevelopment and evaluation of large-scale deposits of minerals including\nchromite in the Ring of Fire, as well as other base metals and strategic\nminerals and, where applicable, support for the development of transportation\nand electrification links to access remote areas where these deposits may be\nlocated.\n\nFor further information, please contact:\nBruce Hodgman, Vice-President: 416-642-3575 ~ info@canadachrome.com\n\nForward-Looking Statements: Information set forth in this news release may\ninvolve forward-looking statements under applicable securities laws. The\nforward-looking statements contained herein are expressly qualified in their\nentirety by this cautionary statement. The forward-looking statements included\nin this document are made as of the date of this document and the Company\ndisclaims any intention or obligation to update or revise any forward-looking\nstatements, whether because of new information, future events or otherwise,\nexcept as expressly required by applicable securities legislation. Although\nmanagement believes that the expectations represented in such forward-looking\nstatements are reasonable, there can be no assurance that such expectations\nwill prove to be correct.\n\nDisclaimer: Neither the Canadian Securities Exchange nor its Regulation\nServices Provider (as that term is defined in the policies of the CSE) accepts\nresponsibility for the adequacy or accuracy of this news release.\n\nNot for distribution to U.S. newswire services or for release, publication,\ndistribution or dissemination, directly or indirectly, in whole or in part,\ninto the United States\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/297009"},"type":"article","timestamp":"2026-05-11T20:15:17.242062496Z","server_sent_at_ms":1778530517242},"received_at":"2026-05-11T20:15:17.300Z","source_url":"https://www.newsfilecorp.com/release/297009"},"analysis":null,"durationMs":null,"modelName":null}}