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79 Resources Ltd. Appoints Ryan Kalt as Chairman & Chief Executive Officer

VANCOUVER, BC / ACCESSWIRE / November 19, 2021 / 79 Resources Ltd. (CSE:SNR) ("79 Resources" or the "Company") announces that Ryan Kalt has agreed to join…

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VANCOUVER, BC / ACCESSWIRE / November 19, 2021 / 79 Resources Ltd. (CSE:SNR) (“79 Resources” or the “Company”) announces that Ryan Kalt has agreed to join 79 Resources as its Chief Executive Officer, and has been appointed to the Company’s board of directors as Chairman.

“I am pleased to accept these appointments at 79 Resources. As the company’s largest shareholder, I believe 79 Resources has strong potential to add value for shareholders through its robust and expanding project platform. Copper-gold exploration in British Columbia and uranium exploration in Saskatchewan have SNR well-positioned to leverage market interest in forward-facing metals,” stated Ryan Kalt, Chairman & Chief Executive Officer of 79 Resources.

Officer Biography

Mr. Kalt is an experienced executive who has founded and built a number of significant private and publicly-traded companies. He serves as CEO of Red Lake Gold Inc. and Dixie Gold Inc., both issuers having recently announced project transactions with Barrick Gold. Mr. Kalt previously served as the CEO of Gold Royalties Corporation, which was publicly-traded until its acquisition by Sandstorm Gold. He serves on the board of directors for a number of publicly-listed and privately-held corporations.

Mr. Kalt holds a B. Comm. (Honours) from Queen’s University, an LL.B. from the University of Western Ontario, an LL.M. in Natural Resources, Energy and Environment Law from the University of Calgary and a Master of Business Administration (M.B.A.) from the Richard Ivey School of Business.

Resignation (Steven Feldman)

The Company reports that it accepted the resignation of Steven Feldman as Chief Executive Officer and as a Director of the Company.

79 Resources expresses its gratitude to Mr. Feldman for his services since his original appointment as an officer and director in December 2020 and wishes him success in his future endeavours.

About 79 Resources Ltd. (CSE:SNR)

79 Resources is a Canadian-based junior mining exploration company. Traded on the Canadian Securities Exchange under the symbol SNR, the company seeks to acquire, explore and develop high-potential mining projects. The Company is currently focused on the Five Point Copper-Gold Project in British Columbia and its North Preston Uranium Project in Saskatchewan.

For more information, please visit: www.79resources.com.

ON BEHALF OF THE BOARD

“Ryan Kalt”

Ryan Kalt, Chairman & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Tel. 1-604-683-3995
Toll Free. 1-888-845-4770

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: 79 Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/673723/79-Resources-Ltd-Appoints-Ryan-Kalt-as-Chairman-Chief-Executive-Officer





Today’s News

Otso Gold Obtains Creditor Protection Under the Companies’ Creditors Arrangement Act

Otso Gold Obtains Creditor Protection Under the Companies’ Creditors Arrangement Act
Canada NewsWire
TORONTO, Dec. 3, 2021

Trading Symbol: TSX-V: OTSO
TORONTO, Dec. 3, 2021 /CNW/ – Otso Gold Corp. (“Otso” or the “Company”), (TSXV:OTSO) announced …

Otso Gold Obtains Creditor Protection Under the Companies’ Creditors Arrangement Act

Canada NewsWire

Trading Symbol: TSX-V: OTSO

TORONTO, Dec. 3, 2021 /CNW/ – Otso Gold Corp. (“Otso” or the “Company“), (TSXV:OTSO) announced today it has obtained an order from the Supreme Court of British Columbia (the “Court“) granting protection from creditors under the Companies’ Creditors Arrangement Act (Canada) (“CCAA“) to enable the Company to propose a plan of arrangement to its creditors.

After careful consideration of all available alternatives following thorough consultation with its legal and financial advisors, the Board of Directors of the Company determined that it was in the best interests of the Company and all of its stakeholders to file for an application for creditor protection under the CCAA.

The initial Court order provides for a stay of creditor claims with a view to provide the necessary protection to continue the Company’s ongoing review process following the previously announced appointment of Alvarez & Marsal Nordic AB to provide Chief Restructuring Officer (“CRO“) and other services to the Company.

The CRO will remain responsible for the day-to-day operations of the Company and that the Board of Directors will remain intact. The Company is committed to completing the restructuring process quickly and efficiently.

The Court has appointed Deloitte LLP to serve as the Monitor in the CCAA proceedings to oversee the operations of the Company and report to the Court during the restructuring. The Company hopes to exit CCAA protection well-positioned to rebuild its stakeholders’ trust and continue efforts to return the Otso Gold Mine to full commercial production.

Trading in the common shares of the Company on the TSX Venture Exchange (the “TSXV“) has been halted and it is anticipated that the trading thereof will continue to be halted until a review is undertaken by the TSXV regarding the suitability of the Company for listing on the TSXV. Should the common shares be delisted following such review by the TSXV, the Company may apply for listing of the common shares on the NEX Board of the TSXV or relisting on the TSXV upon exiting the CCAA process, as the case may be. In addition, the Company anticipates that, as a result of the Company’s filing for protection under the CCAA and its potential delisting by the TSXV, provincial securities regulators in Canada may issue a cease trade order to prevent any trading in the common shares in Canada.

A comeback hearing in respect of the relief granted pursuant to the Initial Order will be scheduled within ten days (the “Comeback Hearing“). Interested parties that wish to bring a motion at the Comeback Hearing are required to provide notice to the affected parties prior to the Comeback Hearing pursuant to the requirements set forth in the Initial Order. A copy of the Initial Order and other information will be available on the Monitor’s website at www.insolvencies.deloitte.ca/en-ca/otsogoldcorp.

Further news releases will be provided on an ongoing basis throughout the CCAA process as required by law or otherwise as may be determined necessary by the Company or the Court. 

The Company’s operating subsidiary Otso Gold Oy, a Finnish limited liability company, has made an equivalent filing for the commencement of restructuring proceedings under the Finnish Restructuring Act in Finland. Otso Gold Oy has requested interim protection from its creditors for the duration of the court review of its application. The stay, which is effected upon the commencement of restructuring proceedings but can be effected on an interim basis already upon filing for restructuring, prohibits the repayment of existing debts as well as the collection and enforcement, whether by legal means or otherwise, of such debts. The enforcement of any securities provided by the company is also prohibited. The court review of Otso Gold Oy’s application is expected to take several weeks.

Following the abrupt departure of Lionsbridge Pty Ltd on 30 November 2021 the Company continues to investigate certain management practices, accounting issues and transactions, including for compliance with the Company’s internal policies, legal and ethical standards.  The Company will update the market on the results of this investigation, including with respect to any further significant matters.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation, and any other applicable law or regulation of any other jurisdiction. Any statements contained herein that are not statements of historical facts, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives for future operations, may be deemed to be forward-looking statements. Specific forward-looking statements in this press release include, but are not limited to: statements with respect to: (i) the outcome of the CCAA proceedings and/or any related restructuring proceedings and the timing of any such proceedings, (ii) the ability of the Corporation to secure additional financing as part of the CCAA process or otherwise, and (iii) the halt of trading of the common shares and review of the TSXV regarding the suitability of the Corporation for listing on the TSXV and any outcome of such review. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. You should not rely on forward-looking statements as predictions of future events.  We caution our readers of this press release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.  Please refer to the risks set forth in the Company’s continuous disclosure documents that can be found on SEDAR (www.sedar.com) under the Company’s issuer profile. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. In addition, there is no assurance that there will be any residual value for shareholders under the CCAA process, nor can be no assurance that the CCAA proceedings will result in the maximization of the return in respect of the Corporation’s assets and those of its subsidiaries. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

About the Company

Otso Gold Corp. wholly owns the Otso Gold Mine near the Town of Raahe in Finland. The

Otso Gold Mine is developed, fully permitted, has all infrastructure in place, two open pits and is currently in the ramp-up towards commercial production at name plate capacity of 2 million tonnes per annum.

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.

SOURCE Otso Gold Corp.





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Today’s News

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index
Canada NewsWire
TORONTO, Dec. 3, 2021

TORONTO, Dec. 3, 2021 /CNW/ – As a result of the quarterly review, S&P Dow Jones Indices will make the following changes to the…

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

Canada NewsWire

TORONTO, Dec. 3, 2021 /CNW/ – As a result of the quarterly review, S&P Dow Jones Indices will make the following changes to the S&P/TSX Composite Index prior to the open of trading on Monday, December 20, 2021:

S&P/TSX COMPOSITE INDEX – December 20, 2021

COMPANY

GICS SECTOR

GICS SUB-INDUSTRY

ADDED

Advantage Energy Ltd. (TSX:AAV)

Energy

Oil & Gas Exploration & Production

ADDED

Baytex Energy Corp. (TSX:BTE)

Energy

Oil & Gas Exploration & Production

ADDED

Energy Fuels Inc. (TSX:EFR)

Energy

Coal & Consumable Fuels

ADDED

Freehold Royalties Ltd. (TSX:FRU)

Energy

Oil & Gas Exploration & Production

ADDED

Hut 8 Mining Corp. (TSX:HUT)

Information Technology

Application Software

ADDED

Lion Electric Company (TSX:LEV)

Industrial

Construction Machinery & Heavy Trucks

ADDED

Peyto Exploration & Development Corp. (TSX:PEY)

Energy

Oil & Gas Exploration & Production

ADDED

Park Lawn Corporation (TSX:PLC)

Consumer Discretionary

Specialized Consumer Services

ADDED

Paramount Resources Ltd (TSX:POU)

Energy

Oil & Gas Exploration & Production

ADDED

Secure Energy Services Inc (TSX:SES)

Energy

Oil & Gas Exploration & Production

ADDED

Topaz Energy Corp. (TSX:TPZ)

Energy

Integrated Oil & Gas

ADDED

Tamarack Valley Energy Ltd. (TSX:TVE)

Energy

Oil & Gas Exploration & Production

DELETED

OrganiGram Holdings Inc. (TSX:OGI)

Health Care

Pharmaceuticals

DELETED

Real Matters Inc. (TSX:REAL)

Real Estate

Real Estate Services

DELETED

SunOpta Inc (TSX:SOY)

Consumer Staples

Biotechnology

DELETED

Westport Fuel Systems Inc. (TSX:WPRT)

Industrials

Construction Machinery & Heavy Trucks

For more information about S&P Dow Jones Indices, please visit www.spdji.com

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

SOURCE S&P Dow Jones Indices LLC.




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Today’s News

Adamera Extends Warrants

Vancouver, B.C. – TheNewswire – December 03 , 2021 – Adamera Minerals Corp. (TSXV:ADZ) (OTC:DDNFF) is seeking approval from the TSX Venture Exchange to…

Vancouver, B.C. – TheNewswire – December 03 , 2021 – Adamera Minerals Corp. (TSXV:ADZ) (OTC:DDNFF) is seeking approval from the TSX Venture Exchange to extend the terms of certain warrants which would otherwise expire on January 11, 2022. 4,166,667 warrants granted on July 11, 2018, with the original expiry date of July 11, 2021, are now extended to expire on January 11, 2023, with each warrant entitling the holder to purchase one common share of the Company at $0.12 per share. The warrants are still subject to an accelerated expiry date, which comes into effect when the price of the Company’s common shares on the TSX Venture Exchange closes at a price of $0.20 or more per share during any ten consecutive trading day period. In such an event, the expiry date will be accelerated to a date that is 30 days after the Company’s shares trade for ten consecutive days at or above $0.20.

The company is also seeking to extend 6,875,000 warrants granted on June 22, 2020, with the exercise price of $0.10 and original expiry date of June 22, 2021, and 4,525,000 warrants with an exercise price of $0.10 granted on July 2, 2020, with an expiry date of July 2, 2021 will be extended to a date of December 22, 2022 and January 2, 2023.

About Adamera

Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic Washington. This area has reportedly produced 8 million ounces of gold. Adamera is the dominant regional explorer in the area.

 

On behalf of the Board of Directors,

Mark Kolebaba
President & CEO

 

For additional information please contact:
Email:
[email protected]
Website:
www.Adamera.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

 

Copyright (c) 2021 TheNewswire – All rights reserved.



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