Cameo Neighbour Nemaska Lithium Announces Closing of Subscription Receipt Financing With Softbank Group
Vancouver, British Columbia – April 25, 2018 – Cameo Resources Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7D) (the “Company” or “Cameo Resources”) is pleased to note that Nemaska Lithium Inc. has closed its previously announced private placement of 88,460,446 subscription receipts at a price of $1.12 per receipt for aggregate gross proceeds of $99,075,700, pursuant to the investment agreement entered into with SoftBank Group Corp. on April 5, 2018. Pursuant to the placement, upon conversion of the receipts, SoftBank will acquire up to 9.9% of Nemaska Lithium’s common shares.
Cameo’s CEO, Akash Patel states, “This strategic investment by Softbank is powerful indication that the Whabouchi lithium deposit is of significant merit. Cameo is thrilled to commence Airborne Magnetic Survey on it’s neighboring WRL property.”
CAMEO RESOURCES CORP.
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