The company is pleased to report that it has entered into a non-binding and arm's length agreement to acquire preferred shares from a private equity fund that owns and is developing a gold exploration property in
The non-binding agreement is with the African Minerals Exploration & Development Fund III Sicar (AMED Fund III) registered in
AMED Funds is a group of private equity funds that have invested in various mineral projects in
The sponsoring partner of AMED Funds is
There are no finder's fees and new insiders being created. A definitive agreement, which may not occur, will need to be executed to complete the transactions between the parties.
Pursuant to the execution of a definitive agreement, Record will acquire half of
In addition, a co-operatorship agreement, to govern the development of the property, will also be entered into following the execution of the definitive agreement and once Record has made a first investment of
The preferred shares to be acquired by Record constitutes half of the preferred shares to be owned by AMED Funds. Following the transaction, AMED Funds will own 69 percent of the
TSDL has built a portfolio of permits in the
Kenogami East Transaction
Omitted from the previous disclosure is that, as part of the Kenogami East transaction,
The company stands by its original disclosure that the Kenogami East transaction with
Grenfell Transaction and Special Meeting of Shareholders
On
As previously disclosed (
Contact:
Tel: +1-514-865-5496
Cautionary Statements
This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes', an or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would' , 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in
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