Base Metals

NiCAN To Commence Drilling at Wine Nickel Property, Manitoba, Canada

NiCAN To Commence Drilling at Wine Nickel Property, Manitoba, Canada

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to provide plans for the upcoming 2023 winter drilling program on the Wine Property located in the Snow Lake area in Manitoba, Canada (Figure 1). With permits and contracts in hand, preparation work is advancing, and drilling is expected to commence in the coming weeks.

NiCAN anticipates drilling a minimum of 2,000 metres to test several targets identified by the Versatile Time Domain Electromagnetic ("VTEM") airborne geophysical survey completed in 2022 (see press release dated November 14, 2022 ). The VTEM survey was designed to define the location and depth of conductive sources that have a similar signature to the nickel hosted mineralization intersected at the "Wine Occurrence" which returned high grade nickel and copper results in the initial phase of drilling completed in 2022. A significant number of the VTEM anomalies were defined within the Wine Gabbro region and have been geophysically modelled. Drill holes have subsequently been designed to effectively intersect the suspected sulphide bodies defined by these models.

Brad Humphrey , President, and CEO of NiCAN, stated, "We are eager to drill test the VTEM targets within the Wine Gabbro area that hosts the previously drill tested Wine Occurrence. The initial phase of drilling, combined with the geophysical modelling, has significantly enhanced our understanding of the varied sulphide concentrations within the Wine Gabbro and improved our ability to identify targets. NiCAN is in a strong position with a solid balance sheet and highly prospective nickel sulfide projects in established mining jurisdictions."

Beyond the immediate Wine Gabbro area, numerous VTEM conductors were defined in the southern portion of the property, within the Reed Lake Mafic-Ultramafic Complex, where past rock sampling has indicated anomalous copper and PGM values. Five of these targets have been geophysically modelled for drill testing in 2023.

The drill program will follow up on the significant results returned from the first phase of drilling in 2022, which included:

  • Diamond drill hole Wine-22-05 intersected 27.3 metres at an average grade of 2.01% Ni, 1.81% Cu (NiEq of 2.61%), 0.09% Co, 0.20 g/t Au and 0.28 g/t Pd;
  • Diamond drill hole Wine-22-06 intersected 9.8 metres at an average grade of 1.23% Ni, 2.09% Cu (1.92% NiEq), 0.051% Co, 0.33 g/t Au, 0.016 g/t Pt and 0.12 g/t Pd;
  • Diamond drill hole Wine-22-03 intersected 8.6 metres at an average grade of 1.89% Ni, 1.01% Cu (2.22% NiEq), 0.10% Co, and 0.46g/t PGM.
Analogies to Historical Lynn Lake Nickel Deposits

NiCAN believes that the mineralization hosted by the Wine Gabbro may have analogies to the nickel-copper deposits in the Lynn Lake area where approximately 22.2 million tonnes averaging 1.0% nickel and 0.5% copper were historically mined. The Farley Mine consisted of multiple lenses of mineralization contained within a 4.2 km 2 gabbro body. The Wine Gabbro contains numerous similarities and has seen very little exploration for nickel-copper deposits.

QAQC

With respect to the Geotech 2022 Versatile time-domain airborne electromagnetic ("VTEM") geophysical data collected over the Wine project area in Manitoba, Canada , a total of 550 line-km of VTEM data was collected on east-west lines with a line spacing of 100m . The VTEM data were quality controlled first by Geotech before being sent to the Company's geophysical consultant for further quality control purposes and Maxwell modelling.

Qualified Person

Mr. Bill Nielsen , P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this press release.

About NiCAN

NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba, Canada .

www.nicanltd.com

To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, interpretations of the various surveys, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Figure 1: Wine Project Location (CNW Group/Nican Ltd.)

Nican logo (CNW Group/Nican Ltd.)

SOURCE Nican Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2023/11/c2218.html

News Provided by Canada Newswire via QuoteMedia

NICN:CA
Logo for NiCan Limited (TSXV:NICN)

NiCan Limited


Keep reading...Show less
NiCAN's VTEM Survey Identifies Multiple Targets on the Wine Nickel Property in Manitoba, Canada

NiCAN's VTEM Survey Identifies Multiple Targets on the Wine Nickel Property in Manitoba, Canada

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) provides the initial results from a Versatile Time Domain Electromagnetic ("VTEM") airborne geophysical survey completed in 2022 at the Wine project in Manitoba, Canada (Figure 3). This survey was designed to accurately define the location and depth of conductive sources that have a nickel mineralization signature. Preliminary interpretations indicate there is a distinct VTEM response to the Wine Occurrence, which had not been recognized in historical airborne surveys.

logo (CNW Group/Nican Ltd.)

A significant number of additional VTEM anomalies, typically with subtle coincident magnetic responses, have been defined within the Wine Gabbro (Figure 1 sets out the responses at a 50-metre depth).  All of the selected VTEM anomalies are currently being geophysically modelled in order to be prioritized for subsequent drill testing, which is planned for the first quarter of 2023.

Note: There are five additional geophysical targets selected for modelling at the south end of the Wine property not shown in figure.

Brad Humphrey , President and CEO of NiCAN, stated, "We are very pleased with the VTEM survey results and the ability to define additional targets within the immediate Wine Gabbro area that hosts the Wine Occurrence. The Company is currently designing and prioritizing the next set of drill targets for the upcoming winter program, which will focus on testing these newly defined geophysical targets. NiCAN is in a strong position with a solid balance sheet and highly prospective nickel projects in established mining jurisdictions."

A preliminary 3D model of the VTEM data has been received and merged with NiCAN's detailed 3D aeromagnetic model completed in 2021 to determine the relationship between conductivity and magnetic responses. In the region of the Wine Gabbro, deep seated magma chambers postulated to be feeder zones to the near surface nickel mineralization have been inferred from the aeromagnetic data. Conductive responses defined from the VTEM survey are interpreted to be sulphide rich horizons associated with these magnetic responses (Figure 2). The intrusion appears to cut into the sulphide horizons with the magma chambers, providing the ability to trap significant sulphur. Additional work is required to determine the nickel potential of this newly defined environment.

Beyond the immediate Wine Gabbro area, it was also noted that several VTEM responses of merit have been defined in the southern portion of the property, within the Reed Lake Mafic-Ultramafic Complex, where past rock sampling has indicated anomalous copper and PGM values. These potential targets on the southern portion of the property are currently being geophysically modelled for subsequent drill testing in 2023.

Analogies to Historical Lynn Lake Nickel Deposits

NiCAN believes that the mineralization hosted by the Wine Gabbro may have analogies to the nickel-copper deposits in the Lynn Lake area where approximately 22.2 million tonnes averaging 1.0% nickel and 0.5% copper was historically mined. The Farley Mine was made up of multiple lenses (~16) of mineralization contained within a 4.2 km 2 gabbro body. The Wine Gabbro contains a number of similarities and has seen very little exploration for nickel-copper deposits.

QA/QC

With respect to the Geotech 2022 Versatile time-domain airborne electromagnetic ("VTEM") geophysical data collected over the Wine project area in Manitoba, Canada , a total of 550 line-km of VTEM data was collected on east-west lines with a line spacing of 100m . The VTEM data were quality controlled first by Geotech before being sent to Geophysical consultants for further quality control purposes. The data were then used to create 3D electrical conductivity inversion models using a combination of parametric and voxel inversion approaches.

The 3D voxel inversion of the 2022 VTEM data used 20m x 20m x 20m mesh cell sizes in the core region of the mesh with a starting and reference model set to the various parametric anomalies embedded within a uniform 10,000 Ωm background. Inversion uncertainties were set to 3% with a noise floor of 1e-12 V/Am2.

The 2022 Geotech VTEM survey over the Wine project in the Snow Lake area of Manitoba was inverted in 3D to create a best fitting conductivity model. The final inversion consisted of many parametric inversions combined to form the starting model for a voxel inversion. The parametric inversions created best-fitting ellipsoids that represented the various strong conductors in the region, and then the traditional voxel inversion was able to take the parametric starting model and refine it as well as add near-surface information that was missing from the parametric inversions.

Collectively, these 3D inversion models highlight many strong conductive features in the Wine project area, and the interpretation of these anomalies should help to better understand the geologic and structural setting, which in turn can help generate future drill targets.

Qualified Person

Mr. Bill Nielsen , P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this press release.

About NiCAN

NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba , Canada.

www.nicanltd.com

To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com .

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, future exploration drill programs, interpretations of the various surveys, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company and neighboring properties; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Figure 1: Selected VTEM targets within the Wine Gabbro shown on a 50-meter conductivity depth slice (CNW Group/Nican Ltd.)

Figure 2: Interpreted Mineralization Model for the Wine Gabbro Area Looking Southeast (CNW Group/Nican Ltd.)

Figure 3: Wine Project Location (CNW Group/Nican Ltd.)

SOURCE Nican Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/14/c6850.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
NiCAN Reports Additional Strong Drill Results from the Wine Project in Manitoba, including 8.6 Metres of 2.22% NiEq

NiCAN Reports Additional Strong Drill Results from the Wine Project in Manitoba, including 8.6 Metres of 2.22% NiEq

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) reports additional assay results from its 2022 reconnaissance diamond drilling program at the Wine project in Manitoba, Canada (Figure 4). These drill holes were completed to further the understanding of the overall mineralization encountered on the Wine Occurrence and to assist in the targeting of future drilling within the Wine Gabbro area.

Highlights (complete assays set out in Tables 1 and 2):

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
NiCAN to Attend Swiss Mining Institute Forum and Central Canada Mineral Exploration Convention

NiCAN to Attend Swiss Mining Institute Forum and Central Canada Mineral Exploration Convention

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) continues to expand its shareholder awareness initiatives. After completing a number of positive virtual meetings at the 121 Global Online Tech Metals conference, NiCAN will continue to introduce the Company, and its highly prospective Nickel projects in Manitoba Canada throughout the fourth quarter.

logo (CNW Group/Nican Ltd.)

Brad Humphrey , President and CEO, will be participating in the one-on-one meetings hosted by the Swiss Mining Institute Forum on November 8 , 9 and 10. NiCAN will also be exhibiting at the Central Canada Mineral Exploration Convention ("CCMEC") at the Victoria Inn in Winnipeg, Manitoba on November 14 and 15.

NiCAN has engaged the services of Generation IACP Inc. ("Generation") to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.  Generation will receive a fee of C$7,500 plus applicable taxes per month.  The agreement between the Company and Generation is for an initial term of six (6) months and shall be automatically renewed for subsequent six (6) month periods (collectively, the "Term") unless the Company provides written notice of termination to Generation at least 30 days prior to the end of the Term or Generation provides a written notice of termination to the Company.  Commencing on the first anniversary of the agreement, the fee payable to Generation will automatically increase annually by 3.0%. No stock options or other compensation are being granted in connection with the engagement. Generation does not currently own any securities of the Company; however, Generation and its clients may acquire an interest in the securities of the Company in the future.

Generation is an arm's length party to the Company.  Generation's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. Generation will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

Generation is based in Toronto, Ontario , and is an independently held and registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSX-V, the Canadian Securities Exchange, and the NEO Exchange, and is a Participating Organization, as such term is defined in the rules and policies of the Toronto Stock Exchange.

About NiCAN

NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba, Canada .

www.nicanltd.com

To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com .

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nican Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/03/c3881.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
NiCAN Intersects a New Mineralized Zone Near Surface at the Wine Project in Manitoba, Including 9.8 Metres at 1.92% Nickel Equivalent

NiCAN Intersects a New Mineralized Zone Near Surface at the Wine Project in Manitoba, Including 9.8 Metres at 1.92% Nickel Equivalent

NICAN Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to report additional diamond drill assay results from the Wine project in Manitoba intersecting a new mineralized zone near surface. These drill holes, Wine-22-06 and Wine-22-07, were part of NiCAN's initial drilling campaign at the Wine project.

Highlights (complete assays set out in Tables 2 and 3) :

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

NiCAN Reports High Grades in First Two Drill Holes at the Wine Project in Manitoba, Including 27.3 Metres of 2.61% Nickel Equivalent

NICAN Limited ("NiCAN" or the "Company") (TSXV: NICN) has received outstanding assay results from the first two diamond drill holes drilled in 2022 at the Wine project in Manitoba . These drill holes were part of NiCAN's initial drilling campaign at the Wine project and were drilled vertically to gain an understanding of the overall thickness and orientation of mineralization encountered in the historical drilling.

Highlights (complete assays are set out in Tables 1 and 2) :

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

CENTURY LITHIUM CORP. ("LCE ")
[formerly CYPRESS DEVELOPMENT CORP. ("CYP ")]
BULLETIN TYPE: Name Change
BULLETIN DATE: January 26, 2023
TSX Venture Tier 2 Company

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Getchell Gold Corp.: Invitation to VRIC Booth 135

Getchell Gold Corp.: Invitation to VRIC Booth 135

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) is pleased to announce that it will be attending the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 29 - Monday January 30, 2023. All attending investors are cordially invited to visit the Getchell Gold team at Booth #135.

Notable VRIC keynote speakers include former Premier of BC Christy Clark and former Premier of Saskatchewan, Brad Wall. Other keynote speakers will include dozens of globally respected economists, legendary money managers, and investors.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
EMP METALS TESTS UP TO 148 MG/L LITHIUM AT MANSUR PROJECT, SASKATCHEWAN

EMP METALS TESTS UP TO 148 MG/L LITHIUM AT MANSUR PROJECT, SASKATCHEWAN

EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) ("EMP Metals" or the "Company ") is pleased to announce positive results from the recently completed flow test of its second test well, 14-36-009-13W20, in the Mansur permit area located in southeast Saskatchewan ( Figure 1 ).  Third-party laboratory testing returned lithium concentrations in the Duperow formation up to 148 mgl. 1

The flow test confirmed high lithium concentrations ranging from 77 to 148 mg/l within 3 zones targeted for future development within the Duperow beds ( Figure 2 ).
The Wymark C zone tested 147 to 148 mg/l from a 11.6 m thick zone with average porosity of 10.4%.
The Wymark E zone tested 101 to 106 mg/l from a 4.9 m thick zone with average porosity of 12.7%.
The Wymark B zone tested 77 mg/l from a 16.9m thick zone with average porosity of 13.8%.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Power Nickel Retains Karbon-X to Offset their 2023 Drill Program of up to 40,000 metres, with Voluntary Carbon Offsets

Power Nickel Retains Karbon-X to Offset their 2023 Drill Program of up to 40,000 metres, with Voluntary Carbon Offsets

Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) announced today that the company has retained Karbon-X Corp (OTCQB:KARX) to retire 159 high quality Verra VCU carbon offsets, in the name of Power Nickel Inc. These 159 carbon offsets will counteract 159 tonnes of greenhouse gas (GHG) emitted by the burning of 60,000 litres of diesel in their exploratory drilling operations and represents Power Nickel's commitment to offsetting their drilling program in the years to come

"These offsets will neutralize the Diesel fuel we will use to drill approximately 40,000 metres of drilling. It symbolizes our goal of creating the world's first carbon neutral Nickel mine at our Nisk Project in Nemaska Quebec. Karbon X and it's DrillGreen.ca initiative makes a lot of sense to us. Miners are amongst the most environmentally friendly people I know and we need to start showing the world we can and will find responsible ways to find the materials needed to power the greening of our economy. This is a modest first step for us and I would hope other miners will follow our lead" said Power Nickel CEO, Terry Lynch.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
World Copper Agrees to Sell Shares of Electric Royalties Ltd.

World Copper Agrees to Sell Shares of Electric Royalties Ltd.

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company"), announces that it has entered into a share purchase agreement (the "Share Purchase Agreement") with Wealth Minerals Ltd. ("Wealth") whereby the Company will sell to Wealth 2,000,000 common shares in the capital of Electric Royalties Ltd. (each, an "ELEC Share") for a purchase price of $0.25 per ELEC Share for the aggregate amount of $500,000 cash (the "Transaction"), subject to acceptance for filing by the TSX Venture Exchange (the "TSXV").

As Wealth holds more than 10% of the issued and outstanding common shares of the Company (and is a Non-Arm's Length Party (as defined in TSXV policies)), the Transaction constitutes a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as at the time the Share Purchase Agreement was entered into neither the fair market value of the ELEC Shares, nor the fair market value of the consideration to be provided by Wealth for same, exceeded 25% of the Company's market capitalization. The Company also notes that the ELEC Shares to be sold to Wealth will be under a contractual restriction on resale until March 2, 2023.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

CHINA EDUCATION RESOURCES INC. ("CHN.H")
[Formerly China Education Resources Inc.  ("CHN")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×