Cadillac Ventures Inc.

Cadillac Ventures Inc.

May 08, 2017 09:00 ET

Cadillac Announces Issuance of Shares for Debt

TORONTO, ONTARIO--(Marketwired - May 8, 2017) - Cadillac Ventures Inc. (TSX VENTURE:CDC)(OTC:CADIF) ("Cadillac" or the "Company") announced today Cadillac has issued 2,800,000 shares at $0.05 per share to non-arms' length parties Norman Brewster, President and Chief Executive Officer and Leo O'Shaughnessy, Chief Financial Officer in settlement of debt obligations for management services rendered to the Company valued at CDN$140,000. The shares will be subject to a hold period until September 9, 2017.

The issuance of the shares to Norman Brewster (2,000,000 shares) and Leo O'Shaughnessy (800,000 shares) has been approved by the TSX Venture Exchange. The issuance will not create a new control person.

Cadillac also reports that Mr. Liu Jian Xiong is no longer a director of the Corporation and in his place Mr. Neil Novak has been re-appointed to the board of directors of the Corporation. The Company thanks Mr. Liu Jian Xiong for his past service and wishes him well in his future activities.

For more information regarding Cadillac or the shares issuances, please visit the Company's website at, or call Norman Brewster, President and Chief Executive Officer, at 416 203-7722.

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

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