HALIFAX, Nov. 3, 2016 /CNW/ - Metallum Resources Inc.
(TSXV: MRV) ("Metallum" or "Company") is pleased to report that it
has received conditional approval from the TSX Venture Exchange for
its change of business ("COB") from a Mining Issuer to an
Investment Issuer. On a going forward basis, subject to
necessary regulatory and shareholder approvals, Metallum will focus
upon strategic investments in private and public company
securities. Trading in the Company's securities will remain halted
until the necessary approvals have been obtained.
The Company will seek shareholder approval for the COB at its
Annual General and Special Meeting to be held on November 30, 2016 at its corporate office in
Halifax, Nova Scotia. In
association with the COB, Metallum will also seek shareholder
approval to change the name of the Company as well as approval of a
consolidation of its common shares on a one new common share for
every three common shares currently outstanding.
About Metallum
Metallum is incorporated under the Business Corporations
Act (Ontario) with its
registered and head office in Halifax,
Nova Scotia. Metallum has 70,945,009 common shares
outstanding and approximately $6.5
million in cash, a 12% promissory note of $270,770, a $150,000 receivable and 1,562,500 common shares
of OneUp Canada, and no debt.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This
press release includes certain "forward-looking statements" under
applicable Canadian securities legislation. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements.
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 forward-looking
statements. Metallum disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
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 Metallum Resources Inc.