Canadian Metals Signed Agreements for Pre-Project Study Done by Hydro Quebec and the Financial Participation of Quebec “Ministère de l’Économie, de la Science et de l’Innovation” and Quebec “Société du Plan Nord”
MONTRÉAL, May 01, 2018 (GLOBE NEWSWIRE) — Canadian Metals Inc. (The “Company”) (CSE:CME) Signed agreements with Hydro-Québec to proceed with Pre-Project study (the “study”), and with Quebec “Ministère de l’Économie, de la science et de l’Innovation” (“MESI”) and Quebec “Société du Plan Nord” (“SPN”) for their financial participation in the study concerning multi-users infrastructure.
This study will establish all the required steps and will focus on technical, financial and environmental aspects, a schedule to realize all the jobs to build a 12 km double-circuit 161Kv power line, 450MVA. This multi-user infrastructure will supply the electrical power for the future Silicon Alloys smelter of Canadian Metals in the industrial park Jean-Noel Tessier in Baie-Comeau. The power line will have extra capacity to feed future expansions for Canadian Metals and other future projects located in the Industrial park.
The financial participation of each partner will be: Canadian Metals for $467,882, MESI for $437,000 and SPN for $100,000.
Hubert Vallée, President and CEO of the Company said: “This Hydro Quebec pre-project study is another important step toward the realization of our Silicon Alloys project in Baie-Comeau. The availability and the access of electrical power is mandatory for the success of our project. We greatly appreciate this important financial support of MESI and SPN.”
About Canadian Metals
Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale industrial mineral portfolios in specific commodities and jurisdictions that will fuel the new energy economy. The Company is uniquely positioned to pursue this strategy and controls significant interest in Silicon and Zinc/Cobalt assets throughout North America.
Our main activities are directed towards the development of Langis project, a high-purity silica deposit located in the province of Quebec, fully permitted with the BEX and the certificate of authorization from the MDDELCC. The Company is rapidly positioning itself as a supplier of high‑purity silica and silicon alloy in North America. Silicon‑based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels, and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic, and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental, and related applications. These target markets are an integral part of the lives of millions of people every day.