Vancouver, June 24, 2022 - Carlyle Commodities Corp. (CSE: CCC) (FSE: 1OZA) (OTC Prink: DLRYF) ("Carlyle" or the "Company") announces that it has entered into a termination agreement with each of Dev Rishy-Maharaj, Christopher Paul and Michael Blady (collectively, the "Optionors") effective June 23, 2022, to terminate Carlyle's option to acquire a 100% interest in the Sunset Property (the "Sunset Property"), consisting of four mineral claims located near Soo River, northeast of Whistler, British Columbia. The Sunset Property was optioned to the Company pursuant to an option agreement (the "Option Agreement") dated November 7, 2017, between the Company and the Optionors, as amended on May 9, 2018, May 25, 2018, June 25, 2018, April 24, 2020 and July 30, 2021.
For additional information on the Option Agreement and the Sunset Property, please see the Company's prospectus dated October 3, 2018 and news release dated July 30, 2021, available under the Company's profile on SEDAR.
The Company announces that it has issued an aggregate of 750,000 common shares (each, a "Share") in the capital of the Company at a deemed price of $0.05 per Share pursuant to the terms of two independent consultant agreements (together, the "Agreements"). One consultant has been engaged by the Company for a 6 month term and the other consulting has been engaged by the Company for a 3 month term, with the Shares being issued in payment for the services rendered by the consultants at a price per Share equal to the lowest permitted price by the applicable policies of the Canadian Securities Exchange. Accordingly, the Shares were issued pursuant to the prospectus exemption provided under Section 2.24 of National Instrument 45-106 - Prospectus Exemptions.
Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of B.C. and is listed on the Canadian Securities Exchange ("CSE") under the symbol "CCC".
ON BEHALF OF THE BOARD OF DIRECTORS OF
Carlyle Commodities Corp.
Chief Executive Officer
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
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