Quebec Rare Earth Elements Corp (QQREF)

[BigBaboon]

CAMEO RESOURCES CORP. ANNOUNCES PRIVATE PLACEMENT AND SHARES FOR DEBT TRANSACTION
Cameo Resources Corp. intends to undertake a private placement financing of up to four million units at a price of 25 cents per unit for gross proceeds of up to $1-million. Each unit will consist of one common share in the capital of the company and one share purchase warrant, and each warrant will entitle the holder to purchase one additional share at a price of 75 cents per share for a period of three years from closing of the financing. Proceeds of the financing are anticipated to be used for general working capital.
The company is also pleased to announce that it intends to issue 1.7 million shares at a deemed price of 25 cents per share in settlement of outstanding debt in the amount of $425,000 to two arm's-length creditors. The company anticipates that the financing and the shares-for-debt transaction will close concurrently.
All securities issued in the financing and shares-for-debt transaction will be subject to a statutory hold period expiring four months and one day after closing of each. Completion of the financing and the shares-for-debt transaction is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.