Cadillac Ventures Announces Termination of Earn In Option Agreement

Rhea-AI Summary

Cadillac Ventures (TSXV:CDC)(OTC PINK:CADIF) has announced the termination of the Earn In Option Agreement with Northern Fox Resources Inc. (NFR). The termination occurred after NFR failed to meet all conditions of the Agreement within the allotted time. Consequently, the two companies have concluded the Earn-In Agreement amicably, with NFR retaining no interests in the Thierry Property. This marks a significant shift for Cadillac, as it now moves forward without obligations tied to the previous arrangement.

Positive

• None.

Negative

• Termination of Earn In Option Agreement may affect future exploration opportunities.
• Loss of potential partnership and resource development from Thierry Property.

TORONTO, ON / ACCESSWIRE / September 30, 2020 / Cadillac Ventures (TSXV:CDC)(OTC PINK:CADIF) (Cadillac) announces that the Earn In Option Agreement between Cadillac and Northern Fox Resources Inc. (NFR), see press release December 9, 2019, has terminated. NFR did not meet all the conditions of the Agreement within the appropriate time periods. The two companies have wound up the Earn-In Agreement cleanly and Northern Fox Resources Inc. retains no interest in the Thierry Property.

Contact Information

For more information regarding Cadillac, please visit the Company's website www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 905 837 2000.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

SOURCE: Cadillac Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/608429/Cadillac-Ventures-Announces-Termination-of-Earn-In-Option-Agreement

FAQ

What led to the termination of the Earn In Option Agreement between Cadillac and Northern Fox?

The termination occurred because Northern Fox Resources Inc. did not meet all the conditions of the Agreement within the specified time periods.

What happens to the Thierry Property after the termination of the agreement?

After the termination, Northern Fox Resources retains no interest in the Thierry Property.

How does the termination of the Earn In Option Agreement impact Cadillac Ventures' stock (CADIF)?

The termination may limit Cadillac Ventures' future exploration opportunities and impact investor sentiment regarding its stock.

When was the Earn In Option Agreement with Northern Fox Resources terminated?

The agreement was announced as terminated on September 30, 2020.