TORONTO, Sept. 27, 2019 (GLOBE NEWSWIRE) -- Angus Ventures Inc. (TSX-V: GUS.P) (“Angus” or the “Company”) is pleased to announce that further to Company’s press releases dated April 30, 2019 and September 12, 2019 the Company has received conditional listing acceptance from the TSX Venture Exchange (the “TSXV”) in connection with the proposed transaction (the “Transaction”), pursuant to which the Company will acquire an aggregate 100% interest in the Slate Bay property (the “Property”) form Luxor Exploration Inc. and Canstar Resources Inc. in consideration for payment of an aggregate cash purchase price of $60,000 and issuing of 70,000 common shares of the Company to Canstar Resources Inc. at a deemed price of $0.30 per common share. The Transaction will constitute Angus’ “Qualifying Transaction” as such term is defined in the Policy 2.4 – Capital Pool Companies of the TSXV.
The Company has now filed its filing statement dated September 26, 2019 (the "Filing Statement") setting out the terms of the Transaction and providing a detailed description of the Property. A copy of the Filing Statement is available under Angus’ profile on SEDAR at www.sedar.com. The Transaction is expected to close in or around the second week of October 2019, and not earlier than October 4, 2019.
For more information, please contact:
Patrick Langlois
President and Chief Executive Officer
Angus Ventures Inc.
Tel: (416) 807-1311
On behalf of the Board of Directors of Angus Ventures Inc.,
Patrick Langlois
President and Chief Executive Officer
Forward Looking Information
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority 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 a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. A halt in trading shall remain in place until after the Qualifying Transaction is completed or such time that acceptable documentation is filed with the TSX Venture Exchange.
The Company is a capital pool company pursuant to Policy 2.4 of the Exchange (the "CPC Policy"). Except as specifically contemplated in the CPC Policy, until the completion of its "Qualifying Transaction" (as defined in the CPC Policy), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction. This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are the risks detailed herein and from time to time in the filings made by the Company with securities regulators including the following: (i) the Company has no commercial operations and has no history of profit; (ii) investment in the common shares of the Company is highly speculative given the unknown nature of the Company’s business and its present stage of development; (iii) there is no assurance that the Company will be able to complete the Transaction; (iv) the directors and officers of the Company will only devote a portion of their time to the business and affairs of the Company and some of them are or will be engaged in other projects or businesses such that conflicts of interest may arise from time to time; and (v) there can be no assurance that an active and liquid market for the Company’s common shares will develop and an investor may find it difficult to resell its common shares. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.