Canadian Critical Minerals Inc. (RIINF)

[ThSeeker]

Braveheart to Retire Debt Through Shares for Debt Transaction

Calgary, Alberta--(Newsfile Corp. - March 18, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") is pleased to announce that it has reached agreement with 2166687 Alberta Ltd. ("2166687"), holder of a $3.6 million convertible debenture (the "Debenture") of the Company, to retire the Debenture in exchange for the Company's issuance of common shares and warrants. 2166687 is a holding entity for approximately 90 underlying note holders.

The Debenture being settled is convertible into common shares of the Company at a conversion price of $0.30 per share as described in the Company's press release issued on August 14, 2020. In exchange for settlement of the Debenture, the underlying holders will receive units of the Company equivalent to the $3.6 million principal amount of the Debenture less prepaid interest of $64,000 based on a price of $0.13 per unit, for a total of 27,200,000 units. Each unit shall be comprised of one common share and one warrant, with each warrant exercisable into a common share at an exercise price of $0.20 per share for a period of three years. The warrants will have an acceleration clause whereby should the volume weighted average trading price of the common shares of Braveheart exceed $0.30 per share for at least 10 consecutive trading days the warrant holders will receive written notice that the warrants, unless exercised, will expire on the 30th day following notice of the acceleration.

The issuance of common shares and warrants in connection with the settlement of the Debenture is subject to the approval of the TSX Venture Exchange.

Peter Lacey, a Director of 2166687, stated, "We are pleased with the progress that Braveheart is making towards the successful restart of the Bull River Mine project. We are also encouraged by the recent acquisition of the past producing Thierry copper nickel project in Ontario and the negotiation of an offtake concentrate sales agreement with Ocean Partners. This transaction provides debenture note holders with liquidity and represents fair value relative to the strength of the assets and the current share price."

Ian Berzins, President and CEO, commented, "I am pleased that we were able to work closely with the debenture note holders to complete an early conversion of the remaining debenture and eliminate $3.6 million in debt from our balance sheet. Once again, the debenture note holders have converted debt at a price that is higher than our current trading levels, demonstrating their strong support for our projects."