(via TheNewswire)
As part of the Acquisition transaction, the Company has:
- changed its name to
Metallum Resources Inc. and its trading symbol will be “MZN”,- moved its jurisdiction from
Yukon toBritish Columbia ,- consolidated its share capital on the basis of one new common share for every ten existing common shares,
- appointed Kerem Usenmez as a director of the Company,
- issued 128,920,000 post-consolidation common shares, and made cash payments of
CAD$525,000 and AUD$200,000, to Superior Lake,- completed its financing with the issuance of 27,000,000 post-consolidation common shares at
$0.10 each (raising$2.7 million ), and 5,454,546 post-consolidation flow-through common shares at$0.11 each (raising$600,000 in flow-through funds),- converted its outstanding debentures with the issuance of 20,960,789 post-consolidation common shares at a deemed price of
$0.26 each, and- issued 3,200,000 post-consolidation common shares as an advisory fee in relation to the Acquisition.
A cash finder’s fee of
The Acquisition is a “Reverse Takeover” as that term is defined under
About Metallum
ON BEHALF OF THE BOARD
Kerem Usenmez,
President & Chief Executive Officer
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 604-688-5288; Fax: 604-682-1514
Email:info@metallumzinc.com
Website:metallumzinc.com
Neither the TSXV nor the
Cautionary Note Regarding Forward-Looking Statements
Certain statements and information contained in this news release constitute “forward-looking statements” within the meaning of applicable
Forward-looking statements in this news release include, but are not limited to: the final approval of the Acquisition by the TSX-V, and the resumption of trading in the Company’s common shares.All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Transaction.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Such uncertainties and factors relate to, among other things,receipt of final approval of the Acquisition from the TSX-V, and resumption of trading in the Company’s common shares;changes in general economic conditions and financial markets; unanticipated costs and expenses; the Company may be unsuccessful in attracting and retaining key personnel; the Company may be subject to litigation; risks relating to widespread epidemics or pandemic outbreak and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that final TSX-V approval to the Acquisition will be obtained and trading in the Company’s common shares will resume; that there will be no material adverse change affecting the Company or its properties; the ability of the Company to continue to operate during the COVID-19 pandemic; and such other assumptionsas set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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Copyright (c) 2021 TheNewswire - All rights reserved., source