MISSISSAUGA, ON / ACCESS Newswire / September 8, 2026 / Lee Q. Shim ("Mr. Shim"), the Chairman of Canadian North Resources Inc. ("Canadian North" or the "Company") (TSXV:CNRI)(OTCQX:CNRSF)(FSE:EO0) (E-O-zero)) announces that he has acquired from the Company a Series 1 Convertible Promissory Note (the "Note") payable in the principal amount of $1,000,000 (the "Principal Amount"), with interest at the rate of 10% per annum and with a maturity date of July 31, 2027. The Principal Amount of the Note is convertible at any time, and from time to time, into common shares ("Common Shares") of the Company at a conversion price of $0.25 per Common Share. If Mr. Shim converts the full Principal Amount into Common Shares, his percentage position of ownership or control of Common Shares held in CNRI would increase from 12.22% to 15.18%.
Prior to the change in percentage ownership, Mr. Shim directly owned 1,214,819 Common Shares of CNRI, which represented 1.06% of the issued and outstanding Common Shares of CNRI. In addition, Mr Shim is the sole trustee of The Lee Quan Shim Family Trust which owns 12,750,000 Common Shares of CNRI, representing 11.15% of the issued and outstanding Common Shares of CNRI.
Upon conversion of the Note, Mr. Shim would own and control a total of 17,964,819 Common Shares of CNRI, which would represent 15.18% of CNRI's issued and outstanding Common Shares.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE REPORT REQUIRED BY SECURITIES REGULATIONS, PLEASE CONTACT:
Lee Q. Shim, Chairman
Canadian North Resources Inc.
Telephone: 905-565-5968 x 228
E-mail: leeshim@cnresources.com
SOURCE: Lee Q. Shim
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/lee-q.-shim-increases-percentage-position-of-common-shares-held-1218241
