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The Canadian Chrome Company Issuing Replacement Debentures in Payment of Series 2023 Debentures

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Executive Summary

The Canadian Chrome Company Inc. has executed a debt refinancing strategy by issuing replacement debentures valued at $2,198,500 to holders of its maturing Series 2023 Debentures. This transaction represents a standard debt rollover mechanism that provides the company with additional time to manage its capital structure while maintaining access to previously committed financing. The replacement instruments carry a 5% annual interest rate and extend the maturity to April 2028, providing a two-year extension from the original maturity date.

The structure of the replacement debentures offers flexibility for both the company and investors through convertibility features tied to the company's dual-class share structure. Holders can convert their debentures into units consisting of multiple voting shares and warrants exercisable at $3.00 per share. The conversion rate will be determined by the 30-day volume-weighted average price of the company's shares, adjusted for the 1:100 exchange ratio between share classes. This pricing mechanism ensures market-based conversion terms while the warrant component provides additional upside participation for debenture holders.

For The Canadian Chrome Company, this refinancing provides breathing room to advance its chromite exploration activities in Ontario's Ring of Fire district without immediate cash pressure from debt repayment. The company's focus on large-scale chromite deposits positions it within Canada's critical minerals strategy, as chromite is essential for stainless steel production and strategic manufacturing applications. The successful rollover of this debt obligation demonstrates investor confidence in the company's long-term prospects while preserving capital for operational activities.

The four-month hold period on the replacement debentures provides market stability and prevents immediate selling pressure. Given the company's exploration stage status and focus on critical minerals development in a strategically important Canadian mining district, this financing structure balances investor flexibility with operational funding needs. The transaction reflects prudent capital management during the development phase of what could become significant chromite resources in the Ring of Fire.
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Press Release

Not for distribution to U.S. newswire services or for release, publication, distribution or dissemination, directly or indirectly, in whole or in part, into the United States

The CanadianChrome Company Inc.

PRESS RELEASE

No. 394

Subordinate shares issued & outstanding (CSE-CACR)

1,802,612,932

Convertible into Multiple-voting shares (100:1) equal to:

18,026,129

Multiple-voting shares issued & outstanding:

14,711,579

If all shares convert to Multiple-voting (CSE-CACR.A)

32,737,708

Toronto, Ontario, April 24, 2026 – The Canadian Chrome Company Inc., formerly known as KWG Resources Inc. (CSE: CACR) (CSE: CACR.A) (“CCC” or the “Company”), is pleased to announce that the Company has exercised its option effective on April 24, 2026, to issue replacement debentures (the “Replacement Debentures”) to the holders of the Series 2023 Debentures issued by the Company on April 24, 2023, May 26, 2023 and June 21, 2023 (the “Series 2023 Debentures”).

The Replacement Debentures are being issued in accordance with the terms of the Series 2023 Debentures in payment of the outstanding aggregate principal amount of $2,198,500 payable on April 24, 2026, the maturity date of the Series 2023 Debentures.

The Replacement Debentures will mature at the earlier of (i) April 24, 2028, and (ii) two (2) business days after a Change of Control Event (the “Replacement Maturity Date”) and will bear interest at 5% per annum, accruing daily, compounding annually from the date of issuance of such Replacement Debentures to the Replacement Maturity Date.

Such payment will be made either (i) at the Company’s option, by payment in cash (other than in the event of a conversion) or (ii) by the issuance of units (each a “Unit”) at a conversion rate (the “Replacement Conversion Rate”) equal to the 30-day volume-weighted average trading price of the Multiple Voting Shares and of the Company’s subordinated voting shares (the “Subordinate Voting Shares”) adjusted for the 1:100 exchange rate between the Multiple Voting Shares and the Subordinate Voting Shares, as traded on the Canadian Securities Exchange (the “CSE”) during the 30-day period ending on April 24, 2026, the maturity date of the Series 2023 Debentures.

The Replacement Debentures are convertible into Units at the Replacement Conversion Rate at the holder’s option at any time prior to payment in cash. Each such Unit will be comprised of one Multiple Voting Share and one (1) share purchase warrant (each, a “Warrant”), with each such Warrant enabling its holder to acquire one further Multiple Voting Share from treasury upon payment of an exercise price of $3.00 per share at any time on or before the earlier of (i) the Replacement Maturity Date, or (ii) the two (2) business days after a Change of Control Event.

All of the Replacement Debentures are subject to a four (4) month hold period from the date of issuance.

About The Canadian Chrome Company Inc.

The Canadian Chrome Company Inc. is an exploration stage company that is focused on identification, acquisition, consolidation, exploration, development and evaluation of large-scale deposits of minerals including chromite in the Ring of Fire, as well as other base metals and strategic minerals and, where applicable, support for the development of transportation and electrification links to access remote areas where these deposits may be located.

For Further Information, Please Contact

Bruce Hodgman Vice-President Phone: 416-642-3575 Email: info@canadachrome.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

Disclaimer

Neither the Canadian Securities Exchange 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 news release.

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