ENTRÉE RESOURCES FILES FORM 15 TO SUSPEND SEC REPORTING OBLIGATIONS

Rhea-AI Summary

Entrée Resources Ltd. has voluntarily filed a Form 15 with the SEC to terminate the registration of its common shares under the Exchange Act. This will result in cost savings and allow management to focus on the Entrée/Oyu Tolgoi joint venture. Shareholders will still have access to material information.

VANCOUVER, BC, Sept. 5, 2023 /PRNewswire/ - Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) – (the "Company" or "Entrée") announces it has voluntarily filed a Form 15 with the United States Securities and Exchange Commission (the "SEC") today for the purpose of terminating the registration of its common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and suspending its reporting obligations under Sections 13(a) and 15(d) of the Exchange Act. The Form 15 filing immediately suspends the Company's reporting obligations under the Exchange Act, and the deregistration will become effective in 90 days.

The voluntary deregistration and suspension will result in significant cost savings and permit management to focus its efforts on Entrée/Oyu Tolgoi joint venture matters.

All shareholders will continue to have access to material information about Entrée as the Company's common shares trade on the Toronto Stock Exchange ("TSX") under the symbol "ETG" and on the Over-the-Counter OTCQB Venture Market (the "OTCQB") under the symbol "ERLFF". Entrée will continue to make filings with applicable Canadian securities regulators and the OTCQB to comply with its continuous disclosure obligations. Filings will be available under the Company's profile on SEDAR+ at www.sedarplus.ca, and on OTC Markets at www.otcmarkets.com. Information about the Company is also available on its website at www.EntreeResourcesLtd.com.

ABOUT ENTRÉE RESOURCES LTD.

Entrée Resources Ltd. is a well-funded Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world's largest copper-gold projects – the Oyu Tolgoi project in Mongolia.  Entrée has a 20% or 30% carried participating interest in the Entrée/Oyu Tolgoi joint venture, depending on the depth of mineralization. Horizon Copper Corp. and Rio Tinto are major shareholders of Entrée, beneficially holding approximately 25% and 16% of the shares of the Company, respectively.  More information about Entrée can be found at www.EntreeResourcesLtd.com.

FORWARD LOOKING STATEMENTS

This News Release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") with respect to the Company's reporting obligations under applicable securities laws; deregistration of the Company's common shares under Section 12(g) of the Exchange Act; trading of the Company's common shares on the TSX and OTCQB; corporate strategies and plans; discussions with the Government of Mongolia, Erdenes Oyu Tolgoi LLC, Rio Tinto, and Oyu Tolgoi LLC on a range of issues including Entrée's interest in the Entrée/Oyu Tolgoi joint venture; anticipated business activities; and future financial performance.

In certain cases, forward-looking statements can be identified by words such as "plans", "expects" or "does not expect", "is expected", "budgeted", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of Entrée's future performance and are based on numerous assumptions regarding present and future business strategies.

Other risks, uncertainties and factors which could cause actual results, performance or achievements of Entrée to differ materially from future results, performance or achievements expressed or implied by forward-looking statements include, amongst others, unanticipated costs, expenses or liabilities; the global economic climate; dilution; share price volatility; the availability of funding on reasonable terms; the impact of changes in interpretation to or changes in enforcement of laws, regulations and government practices, including laws, regulations and government practices with respect to securities, mining, foreign investment, royalties and taxation; misjudgements in the course of preparing forward-looking statements; and those factors discussed in the Company's most recently filed MD&A and in the Company's Annual Information Form for the financial year ended December 31, 2022, dated March 31, 2023 filed with the Canadian Securities Administrators and available at www.sedar.com. 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 statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

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SOURCE Entrée Resources

FAQ

What did Entrée Resources announce?

Entrée Resources announced the voluntary filing of a Form 15 with the SEC to terminate the registration of its common shares.

What is the purpose of the filing?

The purpose of the filing is to suspend reporting obligations under the Exchange Act.

What will happen after the filing?

The filing immediately suspends the company's reporting obligations and the deregistration will become effective in 90 days.

What are the benefits of the deregistration?

The deregistration will result in significant cost savings and allow management to focus on the Entrée/Oyu Tolgoi joint venture.

Will shareholders still have access to information?

Yes, all shareholders will continue to have access to material information.