Soldera Mining Acquires Amtek Inc.
Soldera Mining Corp. (CSE:SOLD, OTC PINK:SLDMF) has completed the acquisition of AmTek Inc. by issuing 12,000,000 common shares as consideration. AmTek owns the Whabouchi South lithium exploration property in Quebec and is developing technology for producing green ammonia. The shares are subject to resale restrictions over the next 24 months. Additionally, 960,000 common shares were issued to a finder for facilitating the transaction. This acquisition aligns with Soldera's focus on clean energy initiatives.
- Acquisition of AmTek strengthens Soldera's focus on clean energy and lithium production.
- Whabouchi South property adds valuable exploration asset in Quebec.
- Potential for revenue growth through development of green ammonia technology.
- Issuance of 12,000,000 shares may dilute existing shareholder value.
- Resale restrictions on shares could limit liquidity for shareholders.
VANCOUVER, BC / ACCESSWIRE / April 1, 2021 / Soldera Mining Corp. (CSE:SOLD)(OTC PINK:SLDMF) ("Soldera" or the "Company") is pleased to announce that, further to its news releases dated February 26, 2021 and March 22, 2021, it has completed the acquisition (the "Transaction") of all of the shares of AmTek Inc. ("AmTek") in consideration for the issuance of 12,000,000 common shares of the Company (the "Consideration Shares").
AmTek is the owner of the Whabouchi South lithium exploration property located in the James Bay/Eeyou Istche region of Quebec and is working on the development of a proprietary technology to produce "green ammonia", a potential carbon-free energy source.
The Consideration Shares are subject to resale restrictions expiring as follows: (i) 1/6 four (4) months from closing; (ii) 1/6 eight (8) months from closing; (iii) 1/6 twelve (12) months from closing; (iv) 1/6 sixteen (16) months from closing; (v) 1/6 twenty (20) months from closing; and (vi) 1/6 twenty-four (24) months from closing.
The Company also issued 960,000 common shares of the Company to a finder in consideration for the finder introducing the parties to the Transaction. Such shares are subject to a hold period of four months and one day.
About the Company
The company is a resource exploration company with an increasing focus on clean energy. The company is based in Vancouver, BC and also holds an option over the Titan Gold Property located in the Klotz Lake area in Northwestern Ontario.
For more information, investors should review the Company's filings that are available at www.sedar.com.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are forward-looking statements. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the contents of this press release.
Contact Information
Faizaan Lalani
Director, Interim Chief Executive Officer and Chief Financial Officer
Telephone: 778 233 3537
Email: flalani@solderamining.com
SOURCE: Soldera Mining Corp.
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https://www.accesswire.com/638517/Soldera-Mining-Acquires-Amtek-Inc
FAQ
What was the acquisition deal between Soldera Mining Corp. and AmTek Inc.?
What is the significance of the Whabouchi South property for Soldera Mining?
How will Soldera's acquisition of AmTek Inc. impact SLDMF stock?
What are the resale restrictions on Soldera's common shares issued in the acquisition?
What technology is AmTek developing?
