MONTREAL, QUEBEC – Ressources Geomega inc. (” GeoMegA ” or the ” Company “) (TSX VENTURE: GMA) wishes to inform its shareholders that the Company has been advised of additional regulatory obligations and consequently the distribution as principal of the common shares Of Exploration Kintavar inc. To the shareholders of GeoMegA announced in the news release of May 1 , 2017 must be postponed to the next annual and special meeting of the Company in order to comply with the statutory requirements for shareholder approval for the proposed distribution
GeoMegA regrets that its shareholders will have to wait for additional time to complete the distribution. It nevertheless reiterates that distribution in the form of a return of capital is in the best interest of its shareholders by providing the best tax conditions to its shareholders. As a result, GeoMega will take the necessary steps to satisfy the statutory requirements in order to effect the distribution following the approval of shareholders at the next annual and special meeting scheduled for October 2017.
About GeoMegA ( www.geomega.ca )
GeoMegA is a Quebec mining exploration company whose objective is the discovery and sustainable development of economic deposits of metals in Quebec. GeoMegA is committed to meeting the standards of the Canadian mining industry and is distinguished by its innovative engineering, stakeholder engagement and dedication to local transformation.
Currently, GeoMegA has 78,258,049 common shares outstanding.
Innord is a private subsidiary of GeoMegA (see press release published on March 2, 2015) owned by GeoMegA at 96.1%. The goal of Innord is to develop and optimize the exclusive process of separation of ETR based on electrophoresis, of which it holds all the rights. Electrophoresis is the migration of charged species (ions, proteins, particles) into a solution in the presence of an electric field. Innord has filed patent applications in Canada and the United States to protect its rights to its innovative separation process and seeks to file them in other jurisdictions.
Cautionary Statement Regarding Forward-Looking Statements
The TSX Venture Exchange and its regulatory services provider (as that term is defined in the policies of the TSX Venture Exchange) assumes no responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements with respect to our intentions and plans. The forward-looking statements contained herein are based on various assumptions and estimates made by the Company and involve a number of risks and uncertainties. Accordingly, actual results could vary materially from those anticipated or suggested in such forward-looking statements and readers should not place undue reliance on forward-looking statements. Please note that forward-looking statements involve known and unknown risks and uncertainties, as set out in the Company’s filings with the Canadian securities regulatory authorities. Various factors may prevent or delay our plans, including the availability and performance of contractors, Weather, accessibility, metal prices, the success or failure of exploration and development work at various stages of the program, and the economic, competitive, political and social environment in general. The Company expressly disclaims any obligation to update any forward-looking statement, except as required by securities legislation.
Source: Resources Geomega inc.