June 27, 2013 16:32 ET
MONTREAL, QUEBEC--(Marketwired - June 27, 2013) - Canada Strategic Metals Inc. ("Canada Strategic Metals" or "the Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) today announced that, subject to the approval of the TSX Venture Exchange ("TSXV"), it intends to settle $487,310.10 in outstanding indebtedness through the issuance to a series of creditors of an aggregate of 9,746,202 common shares at a price of $ 0.05 per share (the "Debt Settlement"). Of this amount, a total of $81,200 represents indebtedness owed to a Director and to a service provider of the Company in which a Director and Officer of the Company is an officer and shareholder. The shares issued under the Debt Settlement will be subject to a hold period of four months and one day from the date of issuance.
The Company also announces that it has negotiated a series of amendments (the "Amendments") to outstanding property option agreements (the "Option Agreements") between the Company and 3 individual optionors (the "Optionors"), one of which is Mr. Jean-Sébastien Lavallée, President, Director and shareholder of the Company, as follows:
The foregoing Amendments were approved by the Company's independent Directors and are all subject to the approval of the TSXV. The shares to be issued under the Amendments will be subject to a hold period of four months and one day from the date of issuance.
About Canada Strategic Metals
Canada Strategic Metals is an emerging growth company focused on the exploration and development of its large portfolio of graphite projects covering over 60,000 hectares throughout Quebec. With management experience in green technology, and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising portfolio for our shareholders.
For more information on the Company, please visit www.csmetals.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) responsibility for the adequacy or accuracy of this release.
Jean-Sebastien Lavallee, P. GeoPresident & Chief Executive Officer819-354-5146Paradox Public Relations514-341-0408
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