Petrolympic Announces Amendment to Belcourt Acquisition Agreement
July 27 2021 - 5:35PM
Petrolympic Ltd. (TSX.V:PCQ) (OTC:PCQRF) (the “Company” or
“Purchaser”) announces that the Company has amended the terms of
the purchase agreement (“Amended Agreement”) to acquire the
Belcourt gold property previously announced May 11th, 2021.
As part of the original agreement the Vendor was
to receive 350,000 common share purchase warrants (“Warrants”)
conditional on the completion of a future financing and subject to
the terms of such financing. The Amended Agreement removes this
provision and states that the Company shall issue 350,000 Warrants
to the Vendor, upon the approval of the Board of the Purchaser, the
TSX Venture Exchange, and any other required regulatory approval of
the Amended Agreement. Each such Warrant shall be exercisable to
purchase one common share of the Purchaser at a price of $0.12 per
common share for a period of 24 months following the date of full
approval of the Amended Agreement.
For further information please contact:
Mendel Ekstein - President
82 Richmond St EastToronto, ON M5C 1P1Tel. 845-656-0184 Fax
845-231-6665
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Certain information contained or incorporated by
reference in this press release, including any information
regarding the proposed acquisition, constitutes “forward-looking
statements”. All statements, other than statements of historical
fact, are to be considered forward-looking statements.
Forward-looking statements are necessarily based on a number of
estimates and assumptions that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
geological and competitive uncertainties and contingencies.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guaranteeing of future performance. Known
and unknown factors could cause actual results to differ materially
from those projected in the forward-looking statements. Such
factors include but are not limited to: economic and global market
impacts of the COVID-19 pandemic, fluctuations in market prices,
exploration and exploitation successes, continued availability of
capital and financing, changes in national and local government
legislation, taxation, controls, regulations, expropriation or
nationalization of property and general political, economic, market
or business conditions. Many of these uncertainties and
contingencies can affect our actual results and could cause actual
results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers
are cautioned that forward-looking statements are not guarantees of
future performance and, therefore, readers are advised to rely on
their own evaluation of such uncertainties. All of the
forward-looking statements made in this press release, or
incorporated by reference, are qualified by these cautionary
statements. We do not assume any obligation to update any
forward-looking statements.
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