Soldera Mining Signs Share Purchase Agreement to Acquire AmTek Inc.

Rhea-AI Summary

Soldera Mining Corp. (CSE:SOLD, OTC PINK:SLDMF) has announced a share purchase agreement to acquire AmTek Inc., aiming to buy 100% of AmTek's shares for 12 million common shares of Soldera. The transaction is subject to conditions including Canadian Securities Exchange approval and engagement of AmTek's key personnel. AmTek owns the Whabouchi South lithium exploration property in Quebec and is developing technology for producing 'green ammonia'. Resale restrictions for the Consideration Shares will apply over a period of up to 24 months.

Positive

• Acquiring AmTek enhances Soldera's portfolio with lithium exploration assets.
• Development of proprietary 'green ammonia' technology could open new market opportunities.

Negative

• Issuing 12 million shares may dilute existing shareholders' equity.

VANCOUVER, BC / ACCESSWIRE / March 22, 2021 / Soldera Mining Corp. (CSE:SOLD)(OTC PINK:SLDMF) ("Soldera" or the "Company") is pleased to announce, further to its news release dated February 26, 2021 (the "February 26 News Release"), that it has entered a share purchase agreement with the shareholders of AmTek Inc. ("AmTek"), whereby the Company will acquire (the "Transaction") 100% of the issued and outstanding common shares of AmTek in exchange for 12,000,000 common shares of the Company (the "Consideration Shares").

The Consideration Shares, when issued, will be 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.

Completion of the Transaction is subject to customary conditions precedent, including approval of the Canadian Securities Exchange and engagement of certain key personnel of AmTek by Soldera.

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.

About the Company

The company is a mineral exploration company focused on the acquisition, exploration and development of mining properties. The company is based in Vancouver, BC and holds an option over the Titan Property located in the Klotz Lake area in Northwestern Ontario and the Tuscarora Property, located in the Tuscarora Mining District in Elko County, Nevada.

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, including statements regarding the Transaction, and satisfaction of the conditions precedent to completion of the Transaction, 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.

View source version on accesswire.com:
https://www.accesswire.com/636721/Soldera-Mining-Signs-Share-Purchase-Agreement-to-Acquire-AmTek-Inc

FAQ

What is the purpose of Soldera Mining's acquisition of AmTek Inc.?

The acquisition aims to enhance Soldera's portfolio by adding lithium exploration assets and innovative technology for producing 'green ammonia'.

What are the terms of the share purchase agreement between Soldera and AmTek?

Soldera will acquire 100% of AmTek's common shares in exchange for 12 million common shares of Soldera, subject to resale restrictions over 24 months.

What impact could the acquisition of AmTek have on Soldera Mining's stock performance?

The acquisition could potentially lead to increased revenue streams and market expansion, but may also dilute current shareholders due to the issuance of new shares.

When will the transaction to acquire AmTek be finalized?

The completion of the transaction is subject to customary conditions precedent, including the approval of the Canadian Securities Exchange.

What is the significance of AmTek's Whabouchi South lithium property?

The Whabouchi South lithium property is strategically located in Quebec, a region known for its rich lithium resources, positioning Soldera favorably in the growing lithium market.