Silicon Metals Corp. Announces Appointment of New Director
Rhea-AI Summary
Silicon Metals (CSE: SI; OTC Pink: SLCNF; FSE: X6U) appointed Mr. Aeron Kawakami to its board and Audit Committee on April 9, 2026.
The company agreed to settle $35,000 of debt by issuing 245,614 common shares at a deemed price of $0.1425 to certain directors. The issuance is treated as a related‑party transaction but is exempt from MI 61‑101 valuation and minority approval requirements. All shares will be subject to a statutory hold period expiring four months and one day after issuance under National Instrument 45‑102.
AI-generated analysis. Not financial advice.
Positive
- Debt of $35,000 settled without cash outflow
- Directors receive 245,614 shares aligning interests
Negative
- Issuance of 245,614 shares causes shareholder dilution
- Related‑party share issuance requires disclosure under MI 61‑101
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2026) - SILICON METALS CORP. (CSE: SI) (OTC Pink: SLCNF) (FSE: X6U) ("Silicon Metals" or the "Company") is pleased to announce that it has appointed Mr. Aeron Kawakami to its board of directors and the Audit Committee of the Company. Mr. Kawakami has over a decade of experience in institutional finance as well as early stage public companies. Mr. Kawakami is a former Director of Quebec Innovative Materials Corp. (QIMC), and former CFO and Director of Tarachi Gold Corp. He currently holds a financial management role with RBC Wealth Management. He is a CFA charterholder and a member of the CFA Society Vancouver.
The Company also announces that it has agreed to issue an aggregate of 245,614 common shares to settle debt of
Accordingly, the portion of the Debt Settlement with the Directors constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance of the Shares to the Directors is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's Shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) as the value of the Shares being issued under the Debt Settlement does not exceed
All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 - Resale of Securities.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The Company's Maple Birch Project, located approximately 30km south-east of Sudbury, Ontario, is a high purity quartz pegmatite project with a 3,000 tonne per year production permit. The Company holds a
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Ray Wladichuk"
Ray Wladichuk
Chief Executive Officer and Director
For more information regarding this news release and further details about Silicon's plans, please contact:
Raymond Wladichuk, CEO and Director
T: 1-778-926-8596
E: ir@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
We seek safe harbor
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are based on the reasonable assumptions, estimates, and opinions of management as of the date such statements are made and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results or future events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, general business, economic, competitive, political, and social uncertainties; uncertain and volatile equity and capital markets; reliance on key personnel; and changes in laws, regulations, and regulatory policies. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291785