NORRAND ROUTE, Quebec, Dec. December 24, 2024 (LATEST NEWS) — Chibougamau Independence (LON:) Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), hereinafter referred to as Chibougamau, wishes to inform shareholders that pursuant to an agreement with Tomagold Corporation (TSXV: LOT) dated August 11, 2023, Chibougamau has received initial capital and dividend payments. In addition, Chibougamau received the first anniversary dividend payment but, due to market conditions, extended the first anniversary requirement of $50,000 in cash and $600,000 in operating expenses until June 30, 2025.
Chibougamau will report to shareholders on the status of the West Block deal on or after June 30, 2025.
This news release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc. in his capacity as a Qualified Person (QP) under NI 43-101.
Neither the TSX Venture Exchange nor the Administrative Service Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the suitability or accuracy of the release.
| We need a Safe Harbor. | CUSIP number 167101 203 LEI 529900GYUP9EBEF7U709 |
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For more information, contact: |
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| Jack Stoch, P.Geo., Acc.Dir. President and CEO Chibougamau Independent Mines Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 |
Phone: 819.797.5242 Fax: 819.797.1470 info@chibougamaumines.com www.chibougamaumines.com |
Forward-Looking Statements
Apart from historical information this News Release may contain forward-looking statements. These statements may involve a number of known and unknown risks and uncertainties and other factors that could cause actual results, activity levels and performance to differ materially from the Company's expectations and estimates. A more detailed discussion of risk is available under the disclaimer on the Company's website.
61,065,536 shares issued and outstanding
Source: Chibougamau Independent Mines Inc.