Canadian North Resources Inc. ("the Company," TSXV: CNRI; FSE: EO0
(E-O-zero)) is pleased to announce that it has entered into an
investor relations agreement with Paradox Public Relations Inc.
(the “Paradox Agreement”), dated May 5, 2023, to access the
investment community proprietary database and contracts maintained
by Paradox for marketing purposes and organize physical or online
road shows/presentations with interested parties, including
financial advisors, bankers, institutional sales, analysts,
brokers, funds, family offices and others.
"We will work with Paradox to enhance our
investor relations efforts and increase our visibility in the
investment community," said Dr. Kaihui Yang, President and CEO of
the Company, "We anticipate that their expertise and connections
would help the Company to improve the market performance and
achieve a fair market value for our shareholders."
The term of the Paradox Agreement is for a
period of 12 months and can be terminated by either party by giving
thirty (30) days written notice. In addition to a fee equal to
$10,000 per month, plus applicable taxes, the Company has granted
Paradox an option to purchase an aggregate total of 400,000 Common
Shares of the Company at a purchase price of $2.45 per share, which
option shall be for a period of a 12 months and shall vest and be
exercisable in four equal tranches, quarterly over a twelve (12)
month period. Any unexercised options shall terminate on the
earlier of the date of termination of the Paradox Agreement by the
Company for cause or the date which is six (6) months following the
termination of the Paradox Agreement. Except for the foregoing
option, Paradox is not related to the Company and has no interest,
directly or indirectly, in the Company or its securities.
Paradox is an investor relations consultancy
firm headquartered in Montreal, Quebec, Canada, that has been in
business for over 20 years. Paradox's extensive experience is
expected to provide a full-service, results-driven approach to
CNRI's investor relations program.
The Company also announces that it has granted
to its directors, officers, and a consultant options to purchase a
total of 750,000 Common Shares of the Company at an exercise price
of $2.45 per share, which options will expire on May 4, 2028.
About Canadian North
Resources
Canadian North Resources Inc. is an exploration
and development company focusing on the metals for the
clean-energy, electric vehicles, battery and high-tech industries.
The company is advancing its 100% owned Ferguson Lake nickel,
copper, cobalt, palladium, and platinum project that covers an area
of 253.8 km2 of mining leases (96.9 km2) and surrounding
exploration claims (156.9 km2) in the Kivalliq Region of Nunavut,
Canada.
The Ferguson Lake mining property contains
substantial resources in compliance with NI43-101 standards, which
include Indicated Mineral Resources of 24.3 million tonnes
containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel
at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz)
palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred
Mineral Resources of 47.2 million tonnes containing 947Mlb copper
at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%,
2.12Moz palladium at 1.4gpt and 0.38Moz platinum at
0.25gpt. The resource model indicates significant
potential for resource expansion along strike and at depth over the
15 km long mineralized belt. (Refer to “Independent Technical
Report, Updated Mineral Resource Estimate, Ferguson Lake Project,
Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and
Francis Minerals Ltd ” filed by the Company to Sedar.com on July
13, 2022). In addition, the Company has identified potential of
lithium minerals and planned a lithium-specific exploration program
at the Ferguson Lake project.
For further information please visit the website
at www.cnresources.com or contact:
Dr. Kaihui Yang, President and CEOPhone:
905-696-8288 (Canada) 1-888-688-8809 (Toll-Free)Email:
info@cnresources.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements contained in this news
release, including statements which may contain words such as
“expects”, “anticipates”, “intends”, “plans”, “believes”,
“estimates”, or similar expressions, and statements related to
matters which are not historical facts, are forward-looking
information within the meaning of applicable securities laws. Such
forward-looking statements, which reflect management’s expectations
regarding the Company’s future growth, results of operations,
performance, business prospects and opportunities, are based on
certain factors and assumptions and involve known and unknown risks
and uncertainties which may cause the actual results, performance,
or achievements to be materially different from future results,
performance, or achievements expressed or implied by such
forward-looking statements.
These factors should be considered carefully,
and readers should not place undue reliance on the Company’s
forward-looking statements. The Company believes that the
expectations reflected in the forward-looking statements contained
in this news release and the documents incorporated by reference
herein are reasonable, but no assurance can be given that these
expectations will prove to be correct. In addition, although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. The Company undertakes no
obligation to release publicly any future revisions to
forward-looking statements to reflect events or circumstances after
the date of this news or to reflect the occurrence of unanticipated
events, except as expressly required by law, anticipated events,
except as expressly required by law.
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