Apogee Minerals Ltd. (“Apogee”
or the “Company”) (TSXV: APMI) announces that,
further to its press releases dated January 25, 2022, and March 17,
2022, the Company has extended the time for completion of the
proposed three-cornered amalgamation (the
“Amalgamation”) with Alto Verde Copper Inc.
(“Alto Verde”) and 1000136714 Ontario Inc.
(“APMI Subco”), a wholly-owned
subsidiary of the Company.
On March 17, 2022, the Company entered into a
definitive agreement (the “Definitive Agreement”)
with Alto Verde and APMI Subco, pursuant to which, among other
things, the Company will acquire all of the issued and outstanding
shares in the capital of Alto Verde (the
“Transaction”).
The parties have entered into an amendment to
the Definitive Agreement to extend the deadline to complete the
Transaction from July 31, 2022 to September 30, 2022.
Further details regarding the Transaction and
Alto Verde are disclosed in the Company’s news releases dated
January 25, 2022, March 17, 2022, and May 30, 2022.
About Alto
Verde:
Alto Verde Copper Inc. is a private mining
company focused on its portfolio of prospective exploration assets
located in the Central Volcanic Zone, within the prolific Chilean
Copper belt.
Alto Verde’s portfolio includes three copper
exploration projects: Pitbull in the Tarapaca Region and Tres
Marias and Zenaida in the Antofagasta Region. Alto Verde holds a
significant land package covering an area of 19,850 hectares with
the projects situated proximal to several of the world’s largest
mines.
Alto Verde’s leadership team is comprised of
senior mining industry executives who have a wealth of technical
and capital markets experience and a strong track record of
discovering, financing, developing, and operating mining projects
on a global scale. Alto Verde is committed to sustainable and
responsible business activities in line with industry best
practices, supportive of all stakeholders, including the local
communities in which it operates.
About Apogee Minerals
Ltd.:
Apogee Minerals Ltd. is a mineral exploration
company. Our goal is to build shareholder value through mineral
project acquisitions and advancement, as well as new mineral
discoveries.
To find out more about Apogee Minerals Ltd.
(TSX-V: APMI) visit the Company’s website:
www.apogeemineralsltd.com
Apogee Minerals Ltd.
“Jim
Pettit”
James PettitCEO and Director
For further information, please contact:
Apogee Minerals Ltd. Riley Trimble,
DirectorEmail: rtrimble@sentinelmarket.com Tel: (604) 416-2978
Alto Verde Copper Inc. Chris Buncic, President,
CEO, & DirectorEmail: investors@altoverdecopper.com
Completion of the Transaction is subject to a
number of conditions, including but not limited to, TSXV acceptance
and if applicable, disinterested shareholder approval. Where
applicable, the Transaction cannot close until the required
shareholder approval is obtained. There can be no assurance that
the transaction will be completed as proposed or at all.
Investors are cautioned that, except as
disclosed in the management information circular or filing
statement to be prepared in connection with the Transaction, any
information released or received with respect to the Transaction
may not be accurate or complete and should not be relied upon.
Trading in the securities of Apogee Minerals Ltd. should be
considered highly speculative. The TSXV has in no way passed upon
the merits of the proposed transaction and has neither approved nor
disapproved the contents of this news release.
The TSXV has in no way passed upon the merits of
the Transaction and has neither approved nor disapproved the
contents of this news release.
Neither the TSXV nor its
Regulation Services Provider (as that term
is defined in the policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this news release.
Cautionary Statements Regarding
Forward-Looking Information
This news release contains forward-looking
information within the meaning of Canadian securities laws. Such
information includes, without limitation, information regarding the
structure of the Transaction , the timeline for completion of the
Transaction and Alto Verde’s future exploration plans. Although the
Company believes that such information is reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward looking information is typically
identified by words such as: “believe”, “expect”, “anticipate”,
“intend”, “estimate”, “postulate” and similar expressions, or are
those, which, by their nature, refer to future events. The Company
cautions investors that any forward-looking information provided by
the Company is not a guarantee of future results or performance,
and that actual results may differ materially from those in forward
looking information as a result of various factors, including, but
not limited to: the Company’s ability to complete the Transaction;
the expected timing and terms of the Transaction; the state of the
financial markets for the Company’s securities; the state of the
natural resources sector in the event the Transaction is completed;
recent market volatility and potentially negative capital raising
conditions resulting from the continued COVID-19 pandemic and risks
relating to the extent and duration of such pandemic and its impact
on global markets; the conflict in Eastern Europe; the Company’s
ability to raise the necessary capital or to be fully able to
implement its business strategies; and other risks and factors that
the Company is unaware of at this time.
The forward-looking statements contained in this
news release are made as of the date of this news release. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
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