Latest news with #PlanofArrangement
Business Wire
07-07-2025
- Business
- Business Wire
Altius Provides 2 nd Quarter 2025 Project Generation Update
ST. JOHN'S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) ('Altius') is pleased to update its Project Generation ('PG') business activities and its public junior equities portfolio. The market value of equities in the portfolio at June 30, 2025 was $87.3 million, compared to $71.4 million at March 31, 2025. In addition, net cash proceeds of $293,000 were generated from modest portfolio sales. An updated list of the public equity holdings has been posted to the Altius website at Portfolio Highlights Overall performance of the portfolio during the quarter was largely driven by its holding of 39,557,961 common shares or an approximate 19.6% interest in Orogen Royalties Inc. (TSX-V:OGN) ('Orogen'), which announced a plan of arrangement with Triple Flag Precious Metals Corp. ('Triple Flag') on April 22 nd, 2025 effectively resulting in Triple Flag's acquisition of Orogen's 1.0% NSR royalty on the Expanded Silicon project. Altius subsequently reported its support of the agreement and at Orogen's Annual General and Special Meeting on June 27, 2025 shareholders overwhelmingly approved the Plan of Arrangement. Triple Flag is acquiring all the issued and outstanding common shares of Orogen for total consideration of approximately $421 million, or $2 per share. In exchange for Orogen shares, Altius will receive cash, Triple Flag shares, and 9,889,490 shares (16.7%) of a spin out company ('Orogen SpinCo') that will hold all of Orogen's exploration assets, early-stage royalties, and the producing Ermitaño royalty. Total implied gross proceeds to Altius are expected to be in the range of $80 million, with some variability depending on the final allocation of cash and shares and the value of Orogen SpinCo. This compares to an original cost base of under $15 million. Altius also renewed its exploration alliance with Orogen (henceforth Orogen SpinCo) for the fourth consecutive year, whereby both parties will continue to conduct early-stage mineral exploration work in Nevada. Altius also directly holds a separate 1.5% NSR royalty covering the Expanded Silicon project for which it is currently considering strategic alternatives. AbraSilver Resource Corp. (TSX: ABRA; OTCQX: ABBRF) ('Abra') announced a potential new porphyry copper discovery at the La Coipita project in the San Juan Province of Argentina. Hole DDH-LC25-006 was highlighted by 621 metres ('m') grading 0.38% Cu, 0.07 g/t Au and 62 ppm Mo, from 410 m to 1,031 m, which included 114 m grading 0.70% Cu, 0.07 g/t Au and 81 ppm Mo, from 410 m to 524 m down-hole depth, interpreted as a secondary enrichment zone. The project lies within the Miocene porphyry-epithermal belt of Argentina and Chile which hosts significant porphyry Cu-Mo-Au mineral deposits such as Filo del Sol to the north and Los Azules, Los Pelambres, and El Pachón to the south. The project is being advanced by a subsidiary of Teck Resources Limited under the terms of an earn-in and joint venture agreement between it and Abra. Altius holds a royalty acquisition right to acquire a 1.10% net smelter return royalty covering the project as part of a strategic equity investment in Abra in 2020 when it entered into the option agreement to acquire a 100% interest in the La Coipita project. As per the terms of the Option Agreement, the Vendor retained a 1.10% royalty and of Abra assigned to Altius an exclusive right to purchase the royalty for US$5,000,000 at any time up to the commencement of construction on the project. In late June Altius sold its Roebucks base metals project in central Newfoundland to a private company, VMS Mining Inc. ('VMS'), for 10 million common shares while also retaining a 2.5% NSR royalty covering the project. Canstar Resources Inc. (TSX-V:ROX) ('Canstar') also announced the execution of a letter of intent (LOI) with VMS establishing terms for an $11.5-million exploration joint venture exploring the company's polymetallic volcanogenic massive sulphide assets in Newfoundland. Altius retains a 2% NSR royalty over certain mineral licenses in the Buchans/Mary March area being explored by Canstar. Altius also owns 11,855,524 (~8%) common shares of Canstar and a 2% NSR royalty covering its Golden Baie precious metals project in Newfoundland. Altius is also presently active in evaluating and negotiating potential exploration alliances and/or investment opportunities that support royalty creation in multiple current and new jurisdictions. Qualified Person Lawrence Winter, Ph.D., Vice President, Generative and Technical for Altius, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this release. About Altius Altius's strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius's commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 46,315,304 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Cision Canada
24-06-2025
- Business
- Cision Canada
Donnelly Group Poised for Successful CCAA Discharge as Founder Jeff Donnelly Reacquires Assets
Jeff Donnelly has assumed the senior creditor position from Bank of Montreal and is set to exit creditor protection in early July VANCOUVER, BC, June 24, 2025 /CNW/ - The Donnelly Group, including much of its flagship hospitality portfolio under Freehouse Collective, is preparing to exit Companies' Creditors Arrangement Act (CCAA) proceedings in early July, marking a major milestone in its corporate restructuring. Founder and CEO Jeff Donnelly recently reacquired key assets from the Bank of Montreal, becoming the senior secured creditor and regaining control of the petitioner companies. With a court-approved Plan of Arrangement and the Stay of Proceedings set to expire on July 4th, a formal discharge is expected imminently. "While CCAA has been a necessary tool during a complex period, it's also been a distraction from what we do best" said Donnelly. "We've continued to design and operate some of the most compelling hospitality concepts in Canada, it's a relief to have reacquired those in creditor protection and returned to a full complement of brands, we can now focus fully on the business of creating standout spaces and experiences." Notably, not all Donnelly Group businesses were petitioners in the CCAA filing. Over the past several years the group has continued to grow and evolve, launching new successful locations while maintaining the quality and personality that define the brand. "We're a boutique hospitality group with a track record of building unique, culturally connected spaces," Donnelly added. "With the restructuring behind us we can reinvest in what makes our business successful—great hospitality fuelled by strong teams and thoughtful spaces." Despite sector headwinds, Donnelly Group maintained operational stability thanks to resilient staff, steadfast guest loyalty and the lasting appeal of its concepts. The company is now positioned to emerge from CCAA leaner, stronger, and fully aligned for growth. Donnelly Group is a boutique hospitality management company rooted in publican culture. Its hospitality arm, Freehouse Collective, operates a unique portfolio of public houses, cocktail clubs, and restaurants in Vancouver and Toronto. Each venue is designed to spark conversation and connection—drawing influence from music, art, sport, travel, and modern culture.
Yahoo
05-06-2025
- Business
- Yahoo
Enduro Completes Acquisition of Commander Resources Ltd.
Kelowna, British Columbia--(Newsfile Corp. - June 5, 2025) - Commander Resources Ltd. ("Commander" or the "Company") is pleased to announce that on May 30, 2025 Enduro Metals Corporation completed its acquisition of all of the issued and outstanding shares of Commander (the "Commander Shares") in exchange for consideration of 0.535 of a common share of Enduro (each full share, an "Enduro Share") for each Commander Share (the "Exchange Ratio") pursuant to a court-approved plan of arrangement (the "Plan of Arrangement"). The Plan of Arrangement was implemented pursuant to the terms and conditions of an arrangement agreement dated February 25, 2025 between Enduro and the Company. In connection with the closing, a total of 23,692,393 Enduro Shares have been issued to the former holders of Commander Shares, resulting in former Commander shareholders holding approximately 45.65% of the total number of issued and outstanding Enduro Shares post-closing (based on 51,885,012 Enduro Shares issued and outstanding immediately after closing). In addition, the outstanding options to purchase Commander Shares have been replaced with options to purchase Enduro Shares on the same terms and conditions, other than necessary adjustments to take into account the Exchange Ratio, as set out in the Plan of Arrangement. In order to obtain their Enduro Shares, shareholders holding share certificates of Commander in their names ("Registered Shareholders") will be required to complete a letter of transmittal (a "Letter of Transmittal") and submit it to Computershare Investor Services Inc. and otherwise follow the instructions contained in the letter of transmittal and described in the management information circular of Commander dated April 9, 2025. Copies of the Circular and the Letter of Transmittal (labelled "Cover letter") may be obtained on Commander's SEDAR+ profile at and will also be available on Enduro's website at Registered Shareholders of Commander who have lost the certificates representing their Commander Shares should contact Computershare Investor Services Inc. at corporateactions@ for information on how to receive their Enduro Shares. Shareholders who hold their Commander Shares through intermediaries such as a brokerage firm or clearing agency ("Non-registered Shareholders") do not need to take any further action to receive their Enduro Shares, as their Enduro Shares will be automatically re-registered to them. Non-registered Shareholders of Commander and who have questions regarding how the Enduro Shares to which they are entitled will be processed should contact their intermediaries. Commander has applied to cease to be a reporting issuer in the jurisdictions in which it is currently a reporting issuer. Advisors and Counsel Pushor Mitchell LLP acted as legal counsel to Enduro in connection with the Plan of Arrangement. GenCap Mining Advisory Ltd. acted as financial advisor to Commander and Koffman Kalef LLP acted as legal counsel to Commander. About Enduro Metals Enduro Metals is an exploration company focused on its Newmont Lake Project; a total 688km2 property located within the heart of British Columbia's Golden Triangle. Building on prior results, Enduro's geological team has outlined multiple deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, newly discovered copper-gold porphyry mineralization at North Toe. For further information please contact: Robert Cameron, CEO Tel: +1 (778) 989-1501 Email: cameron@ Forward-Looking Statements This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Commander's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include statements concerning the Commander's expectation that Commander will apply to cease to be a reporting issuer. Although Commander believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, forward-looking statements by their nature involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF COMMANDER AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE COMMANDER MAY ELECT TO, NEITHER OF THEM UNDERTAKES TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS. 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Yahoo
30-05-2025
- Business
- Yahoo
Enduro Completes Acquisition of Commander Resources Ltd
Kelowna, British Columbia--(Newsfile Corp. - May 30, 2025) - Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG0) ("Enduro" or the "Company") is pleased to announce the completion of its acquisition of Commander Resources Ltd. ("Commander"), originally announced on December 9, 2024, pursuant to a court-approved plan of arrangement (the "Plan of Arrangement"). The Plan of Arrangement was implemented pursuant to the terms and conditions of an arrangement agreement dated February 25, 2025 between Enduro and Commander, and has resulted in the acquisition by Enduro of all of the issued and outstanding shares of Commander (the "Commander Shares") in exchange for consideration of 0.535 of a common share of Enduro (each full share, an "Enduro Share") for each Commander Share (the "Exchange Ratio"). "Today marks the start of a new era for Enduro Metals, and I am delighted to hand over the reins to Rob Cameron who takes over as the new CEO," commented Cole Evans, Director and outgoing CEO of Enduro. "With the completion of this transaction, the company is now on a sound financial footing, and planning for the forthcoming field season at Newmont Lake is already well advanced. I would also like to thank on behalf of the Company Laurence Roulston for his years of dedication and many valuable contributions to the Company. We wish him well in his future endeavours." In connection with completion of the Plan of Arrangement, Robert Cameron has been appointed Chief Executive Officer of the Company, replacing Cole Evans, who will continue as a director of Enduro. In addition, each of Robert Cameron and Brandon Macdonald have been appointed directors of the Company. Lawrence Roulston has resigned as a director of Enduro. Mr. Cameron is a professional geologist and has over 40 years of international experience in the mining industry including positions as President and CEO of Valley High Ventures and Bearing Resources Ltd., as well as Vice-President and Manager of exploration for Phelps Dodge Corporation of Canada Limited (then a subsidiary of Freeport McMoRan Copper and Gold Inc.). In addition, he has extensive market and finance experience including a term as mining analyst for Research Capital. Mr. Macdonald is a Professional Geologist with a diverse background in exploration geology, mining, and finance. He earned his in Geology from the University of British Columbia in 2000, and later completed an MBA at Oxford University in 2007. His experience includes time at Macquarie Bank in London, UK, and as founding CEO of Fireweed Metals Corp. In connection with the closing, a total of 23,692,393 Enduro Shares have been issued to the former holders of Commander Shares, resulting in former Commander shareholders holding approximately 45.65% of the total number of issued and outstanding Enduro Shares post-closing (based on 51,885,012 Enduro Shares issued and outstanding immediately after closing). In addition, the outstanding options to purchase Commander Shares have been replaced with options to purchase Enduro Shares on the same terms and conditions, other than necessary adjustments to take into account the Exchange Ratio, as set out in the Plan of Arrangement. In order to obtain their Enduro Shares, shareholders holding share certificates of Commander in their names ("Registered Shareholders") will be required to complete a letter of transmittal (a "Letter of Transmittal") and submit it to Computershare Investor Services Inc. and otherwise follow the instructions contained in the letter of transmittal and described in the management information circular of Commander dated April 9, 2025. Copies of the Circular and the Letter of Transmittal (labelled "Cover letter") may be obtained on Commander's SEDAR+ profile at and will also be available on Enduro's website at Registered Shareholders of Commander who have lost the certificates representing their Commander Shares should contact Computershare Investor Services Inc. at corporateactions@ for information on how to receive their Enduro Shares. Shareholders who hold their Commander Shares through intermediaries such as a brokerage firm or clearing agency ("Non-registered Shareholders") do not need to take any further action to receive their Enduro Shares, as their Enduro Shares will be automatically re-registered to them. Non-registered Shareholders of Commander and who have questions regarding how the Enduro Shares to which they are entitled will be processed should contact their intermediaries. It is expected that the Commander Shares will be delisted from the TSX Venture Exchange (the "TSXV") on or about May 30, 2025 (or such later date as determined by the TSXV). Commander will also apply to cease to be a reporting issuer in the jurisdictions in which it is currently a reporting issuer. A copy of the applicable early warning report concerning the acquisition of the Commander Shares by Enduro will be filed under Enduro's profile on the SEDAR+ website and may also be obtained by contacting Enduro's new CEO, Robert 778) 989-1501 (1111 Melville St, Vancouver, BC V6E 3V6). Advisors and Counsel Pushor Mitchell LLP acted as legal counsel to Enduro in connection with the Plan of Arrangement. GenCap Mining Advisory Ltd. acted as financial advisor to Commander and Koffman Kalef LLP acted as legal counsel to Commander. About Enduro Metals Enduro Metals is an exploration company focused on its Newmont Lake Project; a total 688km2 property located within the heart of British Columbia's Golden Triangle. Building on prior results, Enduro's geological team has outlined multiple deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, newly discovered copper-gold porphyry mineralization at North Toe. On Behalf of the Board of Directors of Enduro Metals Corporation "Robert Cameron"Chief Executive Officer For further information please contact: Robert Cameron, CEOTel: +1 (778) 989-1501Email: cameron@ Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Enduro's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include statements concerning the Parties' expectation with respect to the de-listing of the Commander Shares and the expectation that Commander will apply to cease to be a reporting issuer. Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, forward-looking statements by their nature involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ENDURO AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ENDURO MAY ELECT TO, NEITHER OF THEM UNDERTAKES TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. To view the source version of this press release, please visit
Yahoo
15-02-2025
- Business
- Yahoo
Lode Gold Announces $1,000,000 Financing
Toronto, Ontario--(Newsfile Corp. - February 15, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) ("Lode Gold " or the "Company") announces a non-brokered financing for $1,000,000.00. Each $0.18 unit shall consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing. The proceeds raised from the offering will go toward strategic initiatives and the execution of the business plan. The Company plans to finalize this financing on or before March 10, 2025. The Annual General Meeting (AGM) and shareholder meeting will be held on March 10, 2025 to approve the Plan of Arrangement. Lode Gold shareholders, as of a specified record date, will be eligible to receive shares of Gold Orogen while retaining their existing shares of Lode Gold. About Lode Gold Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States. In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024. In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 445 km2 and a 44 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. Riley Brook is a 335 km2 package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024. In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1940's. Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only 11% of the veins have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont since the 1940's. The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 200 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail. Previously, in March 2023 the company completed an NI 43-101 Preliminary Economic Assessment ("PEA"). Project Valuation has an after-tax NPV (5%) of USD $370M at $2000 2 /oz gold, IRR 31% and an 11-year LOM, averaging 118,000 oz per year. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized. All NI 43-101 technical reports are available on the Company's profile on SEDAR+ ( and the Company's website ( QUALIFIED PERSON STATEMENT The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101. ON BEHALF OF THE COMPANY Wendy T. Chan, CEO & Director Information Contact Winfield DingCFOinfo@ +1-416-915-4257 Kevin ShumInvestor Relationskevin@ +1 (647) 725-3888 ext. 702 Cautionary Note Related to this News Release and Figures This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties. Cautionary Statement Regarding Forward-Looking Information Neither the 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. This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders. There can be no assurance that forward-looking 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 include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. 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