Brunswick Resources Inc.: Resume Trading and Transfer to NEX
November 05 2020 - 4:12PM
Brunswick Resources Inc. (the “Company” or “Brunswick”)
(TSX-Venture Exchange: BRU) announces that effective on
November 6, 2020, Brunswick Resources Inc. stock’s exchange listing
will be transferred from the TSX-V’s to the NEX board as a result
of the Company’s failure to meet the Continued Listing Requirements
as a Tier 2 issuer on the TSX-V..
Brunswick Resources’ trading symbol will change
from “BRU” to “BRU.H”. There will be no change in Brunswick
Resources’ name, no change in its CUSIP number and no consolidation
of capital. As of November 6, 2020, the Company will be subject to
restrictions on share issuances and certain types of payments as
set out in the NEX policies. The NEX board has been designed to
provide a forum for the trading of publicly listed companies while
they seek and undertake transactions in furtherance of their
reactivation as companies that will carry on an active
business.
The common shares of Brunswick Resources will
resume trading shortly. A trading halt has been in place since
March 4, 2019 as a result of the announcement of the proposed
reverse takeover (RTO) transaction with CBIO Brand Development Inc.
As announced on November 12, 2019, the RTO transaction was
terminated.
Further to the press release dated January 11,
2019 announcing the sale of the Irene Lake Project, the Company
announces that the agreement with the buyer has not been respected
since the buyer has not paid the consideration of $75,000 as was
agreed upon. The Company is currently negotiating with the buyer to
enter into a new agreement for the sale of the Irene Lake Property
for a similar consideration. As soon as the Company reaches an
agreement with the buyer, Brunswick will file a submission with the
Exchange to get approval for the transaction. .The Irene Lake is
currently the only asset of the Company.
Management of the Company is continuing to
explore new business opportunities with a view of maximizing
shareholder value of the Company.
Brunswick Resources Inc.
Brunswick is a TSXV listed company that has been
engaged in mineral exploration. It was incorporated under the
provisions of the Business Corporations Act (Alberta) with its head
office in Rouyn-Noranda, Quebec. Brunswick is a "reporting issuer"
in the provinces of British Columbia, Alberta, Saskatchewan and
Ontario.
For further information, please contact:
For
Brunswick Resources Inc. |
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Christian
Dupont, President and CEO Web site: www.brunswickresources.com
Email : brunswickresources@gmail.com |
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Brunswick Resources Inc. is a publicly
listed company trading on the TSX Venture Exchange
(BRU).
Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provider (as that term is defined in the
Policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding
Forward-Looking Statements
This news release contains forward-looking
statements relating to the Proposed Transaction, including
statements regarding timing for closing of the Private Placement,
the receipt of all necessary regulatory and other approvals and
satisfaction of all other closing conditions in connection with the
Proposed Transaction and other statements that are not historical
facts. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will
occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause actual performance and
results in future periods to differ materially from any estimates
or projections of future performance or results expressed or
implied by such forward-looking statements. These assumptions,
risks and uncertainties include, among other things: the risk that
the Proposed Transaction will not be completed or that the
necessary approvals and/or exemptions are not obtained or some
other condition to the closing of the Proposed Transaction will not
be satisfied; the risk that closing of the Proposed Transaction
could be delayed if Brunswick and CBIO are not able to obtain the
necessary approvals on the timelines planned; the risk that the
Private Placement will not be completed, the timing of obtaining
required approvals, closing conditions for the Proposed
Transaction, state of the economy in general and capital markets in
particular, investor interest in the business and future prospects
of Brunswick and CBIO.
The forward-looking statements contained in this
news release are made as of the date of this news release. Except
as required by law, Brunswick and CBIO disclaim any intention and
assume no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable securities law.
Additionally, Brunswick and CBIO undertake no obligation to comment
on the expectations of, or statements made, by third parties in
respect of the matters discussed above.
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