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Canadian Metals acquires 2 silica properties in New Brunswick

Canadian Metals Inc. said Nov. 21 that it acquired the Chesnaye and Chisholm Brook silica properties in New Brunswick by issuing 5 million shares to an arm's length vendor.

The company will also grant a 1.5% net smelter return royalty on the properties to a related party of the vendor. The company can buy back half of the NSR for C$1 million.

The Chesnaye property consists of 9 mineral claims covering 448 hectares.