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Talisker Intercepts High Grade Results from Unexplored Historic Gap Between Bralorne an Pioneer Extending the 77 Vein

TORONTO, ON / ACCESSWIRE / November 22, 2021 / Talisker Resources Ltd. (" Talisker " or the " Company ") (TSX:TSK)(OTCQX:TSKFF ) is pleased to announce…

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TORONTO, ON / ACCESSWIRE / November 22, 2021 / Talisker Resources Ltd. (“ Talisker ” or the “ Company “) (TSX:TSK)(OTCQX:TSKFF ) is pleased to announce high grade results from drill hole SB-2021-075 highlighted by 81.09 g/t Au over 1.25 metres on the 77 Vein at its 100% owned flagship Bralorne Gold Project.

Key Points:

  • The 77 Vein was intersected between 373.75-375.0 metres highlighted by 81.09 g/t Au over 1.25 metres.
  • Hole SB-2021-075 increases the total intercepts on the 77 Vein to 11.
  • The 77 Vein was the most productive and high grade vein on the Project, historically averaging 17.7g/t Au and was mined to a depth of 1.9 kilometres.
  • The 52 Vein was intersected between 456.0 and 457.20 metres highlighted by 13.86 g/t Au over 1.20 metres.
  • Hole SB-2021-075 increases the total intercepts on the 52 Vein to 11.
  • The 52 Vein Splay was intersected between 474.55 and 475.55 metres, highlighted by 12.87 g/t Au over 1.0 metre.
  • Two shallow zones of low grade bulk-tonnage were defined, returning 0.56 g/t Au over 51.5 metres (236.40 and 287.90 metres depth) and 0.43 g/t Au over 32.2 metres (325.30 and 357.50 metres depth).

Terry Harbort, President and CEO of Talisker commented, “Hole 075 demonstrates the excellent continuity of the 77 vein increasing the strike to 1,100 metres from historic workings.”

Six diamond drills and 1 RC drill are currently operating at the Bralorne Gold Project. A total of 77,150 metres consisting of 148 holes of a planned and fully funded 100,000 metre program has been drilled at the Project this year with a total of 97,464 metres (179 holes) since Talisker initiated drilling in February 2020. There are 54 holes consisting of 17,366 samples are currently at the assay laboratory and are expected to be received by the Company shortly.

SB-2021-075 Hole Description

  • Complete results have been received for this hole.
  • Located in the Bralorne East block and centrally located within the granitic intrusive.
  • Intersected granitic intrusive from surface to 356 metres followed by diorite to 831 metres, then granitic intrusive to 925 metres followed by sheared ultramafic rocks within the Cadwallader fault to completion at 961.9 metres.
  • Bulk mineralization related to the 51BFW Vein intersected from 236.40 to 287.90 metres.
  • Bulk mineralization related to newly discovered veins in the hanging wall of the 77 Vein from 325.30 to 357.50 metres.
  • 77 Vein intersected from 373.75 to 375 metres with visible gold.
  • 52 Vein intersected from 456.0 to 457.20 metres with visible gold.
  • 52 Vein Splay intersected from 474.55 to 475.55 metres with visible gold.
  • Bulk mineralization related to the 222 Vein intersected from 616.75 to 630.45 metres with visible gold.
  • Major vein structures intersected are considered classic Bralorne crack-seal quartz-carbonate veins with densely banded sulphide septae hosting fine-grained arsenopyrite and pyrite mineralization with strong silica-sericite alteration halos.
  • Zones of bulk mineralization are hosted in both the granitic intrusive and diorite as zones of increased veinlet density associated with strong silica-sericite alteration and disseminated pyrite-arsenopyrite mineralization.

Table 1: Bralorne Gold Project – Drill Hole SB-2021-075

Diamond Drill Hole Name

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Zone

Method Reported

SB-2021-075

236.4

237.2

0.8

0.78

New Bulk Zone

Au-AA26
SB-2021-075

237.2

238.1

0.9

0.09

Au-AA26
SB-2021-075

238.1

239.3

1.2

0.22

Au-AA26
SB-2021-075

239.3

240.45

1.15

0.04

Au-AA26
SB-2021-075

240.45

241

0.55

4.39

Au-AA26
SB-2021-075

241

241.6

0.6

0.66

Au-AA26
SB-2021-075

241.6

242.2

0.6

1.07

Au-AA26
SB-2021-075

242.2

243.1

0.9

0.56

Au-AA26
SB-2021-075

243.1

244.5

1.4

0.60

Au-AA26
SB-2021-075

244.5

245.9

1.4

0.09

Au-AA26
SB-2021-075

245.9

247.35

1.45

0.02

Au-AA26
SB-2021-075

247.35

248.8

1.45

0.02

Au-AA26
SB-2021-075

248.8

250

1.2

0.17

Au-AA26
SB-2021-075

250

251.35

1.35

0.11

Au-AA26
SB-2021-075

251.35

252.7

1.35

0.23

Au-AA26
SB-2021-075

252.7

253.9

1.2

0.38

Au-AA26
SB-2021-075

253.9

255.2

1.3

0.01

Au-AA26
SB-2021-075

255.2

256.35

1.15

0.22

Au-AA26
SB-2021-075

256.35

257.1

0.75

0.05

Au-AA26
SB-2021-075

257.1

258.5

1.4

0.29

Au-AA26
SB-2021-075

258.5

260

1.5

0.15

Au-AA26
SB-2021-075

260

261.45

1.45

0.07

Au-AA26
SB-2021-075

261.45

262.65

1.2

0.54

Au-AA26
SB-2021-075

262.65

263.6

0.95

3.13

Au-AA26
SB-2021-075

263.6

264.6

1

5.05

Au-AA26
SB-2021-075

264.6

265.9

1.3

0.04

Au-AA26
SB-2021-075

265.9

267.2

1.3

0.08

Au-AA26
SB-2021-075

267.2

268.15

0.95

0.29

Au-AA26
SB-2021-075

268.15

269.1

0.95

0.30

Au-AA26
SB-2021-075

269.1

270.3

1.2

1.04

Au-AA26
SB-2021-075

270.3

271.5

1.2

0.47

Au-AA26
SB-2021-075

271.5

272.7

1.2

2.08

Au-AA26
SB-2021-075

272.7

273.8

1.1

0.80

Au-AA26
SB-2021-075

273.8

274.9

1.1

0.86

Au-AA26
SB-2021-075

274.9

276.3

1.4

0.23

Au-AA26
SB-2021-075

276.3

277.4

1.1

0.01

Au-AA26
SB-2021-075

277.4

278.5

1.1

0.03

Au-AA26
SB-2021-075

278.5

279.55

1.05

0.01

Au-AA26
SB-2021-075

279.55

281

1.45

0.27

Au-AA26
SB-2021-075

281

282.5

1.5

0.20

Au-AA26
SB-2021-075

282.5

283.5

1

0.16

New Bulk Zone

Au-AA26
SB-2021-075

283.5

284.5

1

1.61

Au-AA26
SB-2021-075

284.5

285.5

1

0.21

Au-AA26
SB-2021-075

285.5

286.45

0.95

1.47

Au-AA26
SB-2021-075

286.45

287.9

1.45

0.60

Au-AA26
SB-2021-075

325.3

326.1

0.8

0.19

New Bulk Zone

Au-AA26
SB-2021-075

326.1

327.25

1.15

0.43

Au-AA26
SB-2021-075

327.25

327.95

0.7

0.85

Au-AA26
SB-2021-075

327.95

328.5

0.55

0.43

Au-AA26
SB-2021-075

328.5

329.1

0.6

0.15

Au-AA26
SB-2021-075

329.1

329.65

0.55

0.21

Au-AA26
SB-2021-075

329.65

330.3

0.65

0.34

Au-AA26
SB-2021-075

330.3

331.1

0.8

0.90

Au-AA26
SB-2021-075

331.1

331.9

0.8

0.02

Au-AA26
SB-2021-075

331.9

333

1.1

0.14

Au-AA26
SB-2021-075

333

334.4

1.4

0.05

Au-AA26
SB-2021-075

334.4

335.7

1.3

0.04

Au-AA26
SB-2021-075

335.7

337

1.3

0.14

Au-AA26
SB-2021-075

337

338.2

1.2

0.47

Au-AA26
SB-2021-075

338.2

339.2

1

0.37

Au-AA26
SB-2021-075

339.2

340.2

1

0.71

Au-AA26
SB-2021-075

340.2

340.95

0.75

0.62

Au-AA26
SB-2021-075

340.95

342.45

1.5

0.08

Au-AA26
SB-2021-075

342.45

343.7

1.25

0.02

Au-AA26
SB-2021-075

343.7

345.2

1.5

0.01

Au-AA26
SB-2021-075

345.2

346.5

1.3

0.02

Au-AA26
SB-2021-075

346.5

347.8

1.3

0.06

Au-AA26
SB-2021-075

347.8

349.3

1.5

0.49

Au-AA26
SB-2021-075

349.3

350.8

1.5

0.72

Au-AA26
SB-2021-075

350.8

352

1.2

0.03

Au-AA26
SB-2021-075

352

352.9

0.9

0.20

Au-AA26
SB-2021-075

352.9

354.1

1.2

0.33

Au-AA26
SB-2021-075

354.1

355

0.9

0.16

Au-AA26
SB-2021-075

355

355.7

0.7

7.33

Au-AA26
SB-2021-075

355.7

356.5

0.8

0.37

Au-AA26
SB-2021-075

356.5

357.5

1

0.52

Au-AA26
SB-2021-075

373.75

374.3

0.55

0.38

77 Vein

Au-AA26
SB-2021-075

374.3

375

0.7

144.50

Au-SCR24
SB-2021-075

375

375.65

0.65

0.11

Au-AA26
SB-2021-075

455.15

456

0.85

2.36

52 Vein

Au-AA26
SB-2021-075

456

456.6

0.6

1.42

Au-AA26
SB-2021-075

456.6

457.2

0.6

26.30

Au-SCR24
SB-2021-075

457.2

457.9

0.7

0.15

52 Vein

Au-AA26
SB-2021-075

457.9

458.4

0.5

0.52

Au-AA26
SB-2021-075

458.4

459.3

0.9

0.36

Au-AA26
SB-2021-075

474.55

475.05

0.5

22.50

52 Splay Vein

Au-SCR24
SB-2021-075

475.05

475.55

0.5

3.23

Au-AA26
SB-2021-075

475.55

476.05

0.5

0.13

Au-AA26
SB-2021-075

476.05

476.9

0.85

0.11

Au-AA26
SB-2021-075

476.9

477.55

0.65

0.18

Au-AA26
SB-2021-075

616.75

617.45

0.7

0.63

222 Vein Zone

Au-AA26
SB-2021-075

617.45

618.65

1.2

0.50

Au-AA26
SB-2021-075

618.65

619.65

1

0.88

Au-AA26
SB-2021-075

619.65

620.5

0.85

1.22

Au-SCR24
SB-2021-075

620.5

621.2

0.7

1.01

Au-AA26
SB-2021-075

621.2

622

0.8

2.27

Au-AA26
SB-2021-075

622

622.5

0.5

0.83

Au-AA26
SB-2021-075

622.5

624

1.5

0.37

Au-AA26
SB-2021-075

624

625.3

1.3

0.36

Au-AA26
SB-2021-075

625.3

626.1

0.8

0.34

Au-AA26
SB-2021-075

626.1

627

0.9

1.48

Au-AA26
SB-2021-075

627

627.6

0.6

2.31

Au-AA26
SB-2021-075

627.6

628.55

0.95

5.53

Au-AA26
SB-2021-075

628.55

629.15

0.6

2.58

Au-AA26
SB-2021-075

629.15

629.7

0.55

1.45

Au-AA26
SB-2021-075

629.7

630.45

0.75

0.69

Au-AA26
Notes: Diamond drill hole SB-2021-075 has collar orientation of Azimuth 175; Dip -52. True widths are estimated at 40 – 90% of intercept lengths and are based on oriented core measurements where available. Method Reported includes the most up to date information as of the date of this press release

Qualified Person

The technical information contained in this news release relating to the drill results at the Bralorne Gold Project has been approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker’s Vice President, Exploration and Resource Development, who is a “qualified person” within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Talisker Resources Ltd.

Talisker (taliskerresources.com) is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker’s projects include two advanced stage projects, the Bralorne Gold Complex and the Ladner Gold Project, both advanced stage projects with significant exploration potential from historical high-grade producing gold mines, as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt and several other early-stage Greenfields projects. With its properties comprising 296,983 hectares over 346 claims, three leases and 198 crown grant claims, Talisker is a dominant exploration player in the south-central British Columbia. The Company is well funded to advance its aggressive systematic exploration program at its projects.

For further information, please contact:

Terry Harbort
President and CEO
[email protected]
+1 416 361 2808

Sample Preparation and QAQC

Drill core at the Bralorne project is drilled in HQ to NQ size ranges (63.5mm and 47.6mm respectively). Drill core samples are minimum 50 cm and maximum 160 cm long along the core axis. Samples are focused on an interval of interest such as a vein or zone of mineralization. Shoulder samples bracket the interval of interest such that a total sampled core length of not less than 3m both above and below the interval of interest must be assigned. Sample QAQC measures of unmarked certified reference materials (CRMs), blanks, and duplicates are inserted into the sample sequence and make up 9% of the samples submitted to the lab for holes reported in this release. Sample preparation and analyses is carried out by ALS Global in North Vancouver, British Columbia, Canada and SGS Canada in Burnaby, British Columbia, Canada. Drill core sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (ALS code PREP-31 / SGS code PRP89). Gold in diamond drill core is analysed by fire assay and atomic absorption spectroscopy (AAS) of a 50g sample (ALS code Au-AA26 / SGS code GO_FAA50V10), while multi-element chemistry is analysed by 4- Acid digestion of a 0.25 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Gold assay technique (ALS code Au-AA26 / SGS code FAA50V10) has an upper detection limit of 100 ppm. Any sample that produces an over-limit gold value via the gold assay technique is sent for gravimetric finish (ALS method Au-GRA22 / SGS method GO_FAG50V) which has an upper detection limit of 1,000 ppm Au. Samples where visible gold was observed are sent directly to screen metallics analysis and all samples that fire assay above 1 ppm Au are re-analysed with method (ALS code Au-SCR24 / SGS code – 6 – GO_FAS50M) which employs a 1kg pulp screened to 100 microns with assay of the entire oversize fraction and duplicate 50g assays on the undersize fraction. Where possible all samples initially sent to screen metallics processing will also be re-run through the fire assay with gravimetric finish provided there is enough material left for further processing.

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While Talisker considers these statements to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include market risks and the demand for securities of the Company, risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this news release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Figure 1: SB-2021-075 hole location within the Bralorne East Block.

https://storage.googleapis.com/accesswire/media/673950/Figure1.jpg

Figure 2: SB-2021-075 cross section with vein intersections and grade.

SOURCE: Talisker Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/673950/Talisker-Intercepts-High-Grade-Results-from-Unexplored-Historic-Gap-Between-Bralorne-an-Pioneer-Extending-the-77-Vein











Today’s News

Awalé Resources Limited Share Consolidation

Awalé Resources Limited Share Consolidation
PR Newswire
VANCOUVER, BC, Dec. 1, 2021

VANCOUVER, BC, Dec. 1, 2021 /PRNewswire/ – Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC) announces that further to its November 4, 2021 news relea…

Awalé Resources Limited Share Consolidation

PR Newswire

VANCOUVER, BC, Dec. 1, 2021 /PRNewswire/ – Awalé Resources Limited (“Awalé” or the “Company“) (TSXV: ARIC) announces that further to its November 4, 2021 news release, its share consolidation on a 8:1 basis has been accepted and will be effective on December 6, 2021.

All registered shareholders will be sent new certificates representing their share positions directly from the Company’s transfer agent Computershare without any action on their part.    Post consolidation the Company will have approximately 23,348,137 common shares issued and outstanding prior to rounding for fractional shares.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.

“Glen Parsons”

Glen Parsons, President and CEO

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

Cautionary Statement

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

View original content:https://www.prnewswire.com/news-releases/awale-resources-limited-share-consolidation-301435790.html

SOURCE Awale Resources




awale resources limited

Author: Author

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Today’s News

Brompton Split Banc Corp. Announces Details of Class A Share Split and Concurrent Preferred Share Private Placement

Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) — (TSX: SBC, SBC.PR.A)…

Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) — (TSX: SBC, SBC.PR.A) Brompton Split Banc Corp. (the “Company”) is pleased to announce the details of the previously announced split of its class A shares (the “Share Split”) and provide an update on the concurrent private placement of preferred shares (the “Private Placement”). The Share Split and the Private Placement remain subject to the approval of the Toronto Stock Exchange (the “TSX”).

The Company is pleased to announce that class A shareholders of record at the close of business on December 14, 2021 will receive 25 additional class A shares for every 100 class A shares held, pursuant to the Share Split. Following the Share Split, class A shareholders will continue to receive the currently targeted monthly distribution of $0.10 per class A share. As a result, the Share Split will result in an overall increase in the dollar amount of distributions to be paid to class A shareholders by approximately 25%. The Company provides a distribution reinvestment plan, on a commission-free basis for class A shareholders that wish to reinvest distributions and realize the benefits of compound growth.

Pursuant to the Private Placement, 3,164,203 preferred shares were offered to investors at a price of $10.10 per preferred share such that following the Share Split there will be an equal number of class A shares and preferred shares outstanding. The Private Placement is scheduled to close on December 14, 2021. Following the completion of the Share Split and the Private Placement, the preferred shares are expected to have downside protection from a decline in the value of the Company’s portfolio of approximately 57%.(1)

Over the last 10 years, the class A shares have delivered a 17.8% per annum total return based on NAV, outperforming the S&P/TSX Capped Financials Index by 5.1% per annum and the S&P/TSX Composite Index by 9.0% per annum.(2) Since inception, class A shareholders have received cash distributions of $18.75 per class A share.

The preferred shares have delivered a 4.9% per annum total return over the last 10 years based on NAV, outperforming the S&P/TSX Preferred Share Index by 1.5% per annum with lower volatility.(2)   

The Company invests, on an approximately equal weighted basis, in a portfolio (the “Portfolio”) consisting of common shares of the six largest Canadian banks (currently, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, The Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Bank of Montreal). In addition, the Company may hold up to 10% of the total assets of the Portfolio in investments in global financial companies for the purposes of enhanced diversification and return potential.

About Brompton Funds

Founded in 2000, Brompton Funds Limited (“Brompton”) is an experienced investment fund manager with income focused investment solutions including TSX listed closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email us at [email protected] or visit our website at www.bromptongroup.com

(1)   Based on the November 25, 2021 NAV of the class A shares, as used to determine the Share Split ratio.
(2)   See Standard Performance Data table below.

Brompton Split Banc Corp.
Compound Annual NAV returns to October 31, 2021
1 Yr   3 Yr   5 Yr   10 Yr   S.I.  
Class A Shares (TSX:SBC) 123.3 % 21.6 % 17.9 % 17.8 % 12.7 %
S&P/TSX Capped Financials Index 55.7 % 15.3 % 12.6 % 12.7 % 9.2 %
S&P/TSX Composite Index 38.8 % 15.3 % 10.6 % 8.8 % 7.4 %
           
Preferred Shares (TSX:SBC.PR.A) 5.1 % 5.1 % 5.0 % 4.9 % 5.1 %
S&P/TSX Preferred Share Index 28.8 % 6.7 % 7.2 % 3.4 % 3.1 %

Returns are for the periods ended October 31, 2021 and are unaudited. Inception date November 15, 2005. The table shows the Company’s compound return on a class A share and preferred share for each period indicated, compared with the S&P/TSX Capped Financials Index (“Financials Index”), the S&P/TSX Composite Index (“Composite Index”), and the S&P/TSX Preferred Share Index (“Preferred Share Index”) (together the “Indices”). The Financials Index is derived from the Composite Index based on the financials sector of the Global Industry Classification Standard. The Composite Index tracks the performance, on a market weight basis, of a broad index of large-capitalization issuers listed on the TSX. The Preferred Share Index tracks the performance, on a market weight basis, of preferred shares listed on the TSX that meet criteria relating to minimum size, liquidity, issuer rating, and exchange listing. The class A shares and preferred shares are not expected to mirror the performance of the Indices which have more diversified portfolios. The Indices are calculated without the deduction of management fees, fund expenses and trading commissions, whereas the performance of the Company is calculated after deducting such fees and expenses. Further, the performance of the Company’s class A shares is impacted by the leverage provided by the Company’s preferred shares.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the TSX or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.





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MGX Minerals Granted Management Cease Trade Order to Allow for Completion of Financials

 

VANCOUVER – TheNewswire – December 1, 2021 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (CNSX:XMG.CN) (FKT:1MG) (OTC:MGXMF) is…

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VANCOUVER – TheNewswire – December 1, 2021 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (CNSX:XMG.CN) (FKT:1MG) (OTC:MGXMF) is pleased to announce that in connection with the anticipated late filing of the Company’s audited annual financial statements (the “Financial Statements“) and management’s discussion and analysis for the financial year ended July 31, 2020, the Company has applied for, and has been granted, a temporary management cease trade order (the “MCTO“) by the British Columbia Securities Commission (the “BCSC“).

The Company applied for the MCTO in order to secure additional time to finalize the Financial Statements. As a result of recent changes to the Company’s board of directors, the Company anticipates a longer than anticipated timeframe for the audit of the Financial Statements. However, it is the Company’s reasonable expectation that the audit of the Financial Statements will be completed by December 27th, 2021.

By way of background and as required by the BCSC, please note the following:

1. The Company is required to file its July 31, 2020 audited annual financial statements, management’s discussion and analysis and the applicable CEO and CFO certifications in respect of such filings (collectively, the “Annual Filings“) all in accordance with IFRS, by November 29, 2020 (the “Filing Deadline“), as required pursuant to National Instrument 51-102 Continuous Disclosure Obligations. The Company does not anticipate that it will be able to complete its Annual Filings on or before the Filing Deadline.

2. The Company and its auditors are working diligently to prepare and file the Annual Filings on or before December 27th, 2021.

3. The Company confirms that it intends to issue a status report on a bi-weekly basis, for as long as it remains in default of the Filing Deadline in respect of the Annual Filings.

 

4. There is no other material information concerning the affairs of the Company that has not been generally disclosed.

During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, for the duration of the MCTO, the Company’s Chief Executive Officer and Chief Financial Officer will not be able to trade the Company’s common shares.

The Company has imposed an insider trading blackout pending the filing of the Annual Filings. If the MCTO is granted, the Company will comply with the alternative information guidelines described in National Policy 12-203 Management Cease Trade Orders for so long as it remains in default due to the late filing of the Annual Filings.

Corporate Update

The Board of Directors has removed Lyndon Patrick effective November 30, 2021 for non performance having missed three or more consecutive Director Meetings and reduced the number of Directors to three, in accordance with Company By-laws. A search has begun for a new Director.  The current Directors of the Company are Andris Kikuaka and Jared Lazerson.

About MGX Minerals

MGX Minerals is a diversified Canadian resource and technology company with interests in advanced metals, industrial minerals, nuclear energy and rocketry.

 

Contact Information:

Sandey Wang

Interim Chief Financial Officer

[email protected]

604 681 7735

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forwardlooking information. Forward-looking information in this press release include, but are not limited to, statements with respect to holding the postponed Meeting, and the filing of an amended notice of meeting and record date for the postponed Meeting. Forward-looking information is generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “in the event”, “if”, “believes”, “asserts”, “position”, “intends”, “envisages”, “assumes”, “recommends”, “estimates”, “approximate”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.

The Company’s forward-looking information are based on the applicable assumptions and factors the Company considers reasonable as of the date hereof, based on the information available to the Company at such time, including without limitation, the ability to host the postponed Meeting at a later date, and the ability to find a suitable location which can accommodate an in-person shareholders’ meeting. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, uncertainties arising from the COVID-19 pandemic, and general economic conditions or conditions in the financial markets. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors, and their potential effects, which may be accessed through the Company’s profile on SEDAR at www.sedar.com. Except as required by securities law, the Company does not intend, and does not assume any obligation, to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

 

Copyright (c) 2021 TheNewswire – All rights reserved.



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