Vancouver, BC July 20, 2023 - CAT Strategic Metals Corporation (CSE: CAT, OTC: CATTF, FRA: 8CH) ("CAT" or the "Company") is pleased to announce that it has concluded a restructuring of the Senior Secured Loan Agreement (the "Agreement") that was entered into on September 29,2022 with Komodo Holdings (Alberta) ULC ("Komodo"). The restructuring of the Agreement was negotiated in good faith in order to remove or alter certain terms and conditions in order to more easily facilitate a financing of the Company and the spin-off of CAT's South Preston Uranium Project.

The negotiated changes to the Agreement are as follows:

  1. The amended Agreement altogether removes the requirement for a General Security Agreement (the "GSA") which provided Komodo with a charge over all of the Company's assets. Komodo will proceed with the immediate release of the Security with the Personal Property Registry of British Columbia, and has agreed to sign and deliver, or cause to be signed and delivered to CAT all such further and other discharges, documents, certificates, agreements and written instruments to discharge the Security.
  2. The term of the loan, previously due on March 29, 2024 has been extended to December 31, 2025.
  3. The Agreement provided for the lender to have the ability to convert the loan amount, or any portion thereof, at any time into units of the Company at a price of $0.05 per unit, with each unit being comprised of one common share and one common share purchase warrant. Each warrant then entitled the lender to purchase an additional common share at an exercise price of $0.05 for a period of 36 months following the exercise date. The amended agreement reduces the unit exercise price from $0.05 to $0.032, increases the warrant exercise price from $0.05 to $0.06, and reduces the warrant exercise period from 36 months down to 18 months.

CAT CEO, Robert Rosner, stated that "Renegotiating the terms of the debt instrument was a crucial and necessary step in the Company's ability to secure a much needed financing. With the GSA removed from the equation, we have had very encouraging discussions with a group of financiers who are quite keen on our Gold Jackpot property and the potential for a lithium discovery such as has been reported by Surge Battery Metals on their Nevada North Lithium Project, our neighbour just 1 mile to away from Gold Jackpot. Removing the GSA also facilitates the spin-off of the South Preston property, which will be a boon for CAT Shareholders."

The amended Agreement and its terms and conditions was subject to CSE review and approval and such approval was provided to the Company without comment.

About CAT Strategic Metals Corporation (CAT)

CAT Strategic Metals' corporate strategy, as reflected in its overall Mission Statement, is to source, identify, acquire and advance property interests located in mineral districts proven to have world-class potential, primarily lithium, tellurium, gold, silver and copper. In addition to the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper-lithium trend with multiple targets for gold-silver, copper, tellurium , and potential lithium, CAT has the South Preston Uranium Project in the Athabasca Basin of Saskatchewan, the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", and on the Frankfurt Stock Exchange under the symbol "8CH".

ON BEHALF OF THE BOARD


 Robert Rosner
Chairman, President & CEO

Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting the Company's website www.catstrategic.comor by contacting the Company directly at (604) 674-3145.

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.

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CAT Strategic Metals Corp. published this content on 20 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2023 00:17:09 UTC.