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TORONTO, April 16, 2020 /CNW/ - Central Timmins
Exploration Corp. ("CTEC" or the "Corporation")
(TSXV: CTEC) This press release is being disseminated as
required by National Instrument 62‐103 The Early Warning System
and Related Take Over Bids and Insider Reporting Issues in
connection with the filing of an early warning report (the "Early
Warning Report") regarding the acquisition of common shares of
Central Timmins Exploration Corp. by Joseph
J. Ovsenek.
Mr. Ovsenek acquired the common shares in a private
placement offering by CTEC on April 15,
2020 resulting in ownership of 2,000,000 common shares of
the Company representing approximately 10.8% of the issued and
outstanding voting securities of the Company on a non‐diluted
basis. Mr. Ovsenek acquired the shares for investment
purposes only and intends to review his holdings on a continuing
basis and such holdings may be increased or decreased in the
future.
A copy of the Early Warning Report may be found on
www.SEDAR.com.
About Central Timmins Exploration Corp.
CTEC is an
early-stage Canadian junior exploration company with property
primarily within the city limits of Timmins in the Porcupine Mining District in
the northeastern region of Ontario. The Corporation's assets are
prospective for gold as well as a suite of base metals.
Forward Looking Information
This press release contains "forward-looking information"
within the meaning of applicable securities laws that is intended
to be covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology and
includes statements relating to, among other things, the timing of
the posting for trading of the post-consolidation Common
Shares.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
information. See "Particulars of Matters to be Acted Upon at the
Meeting – Share Consolidation – Risk Factors" in the Information
Circular and "Risk Factors" in the Corporation's final prospectus
dated October 4, 2018 filed on SEDAR
at www.sedar.com for a discussion of these risks.
CTEC cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, CTEC does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
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
release.
SOURCE Central Timmins Exploration Corp
