Tri Capital Opportunities Corp. Provides Update on Qualifying Transaction for Pine Channel Gold Property
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) -- Tri Capital Opportunities Corp. (“TCAP” or the “Company”) (TSXV: TCAP.P), a capital pool company, is pleased to announce that it has filed a filing statement dated July 20, 2021, (the "Filing Statement") with the TSX Venture Exchange (the "TSXV") for the acquisition of the option (the "Option") from Eagle Plains Resources Ltd. ("Optionor") to acquire an undivided 80% interest in and to certain mineral claims in northern Saskatchewan collectively known as the Pine Channel Gold Property.
The acquisition of the Option (the “Transaction”), as previously announced in the Company's news release dated May 12, 2021, will constitute TCAP’s Qualifying Transaction, as defined under TSXV Policy 2.4 - Capital Pool Companies. Assuming all conditions for closing are satisfied, the Company and Optionor expect to close the Transaction on or about July 26, 2021 (the "Anticipated Closing Date").
In due course, the parties to the Transaction will issue a further comprehensive news release announcing, among other things, the closing of the Transaction and the date on which the common shares of TCAP (the “TCAP Shares”) will resume trading.
In connection with the Transaction, on or before the Anticipated Closing Date, the Company will change its name to "Alpha Minerals Ltd." (the "Name Change") and the Company’s trading symbol will change from "TCAP.P" to "APMI". Completion of the Name Change remains subject to the approval of the TSXV.
A technical report titled “Technical Report for the Pine Channel Property” dated effective June 17, 2021, prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has been prepared for the Optionor’s Pine Channel Gold Property and will be filed under the Company's SEDAR profile in conjunction with the filing of the Filing Statement.
Management and Board of Directors
The management team of the Resulting Issuer will be led by James Pettit as President and CEO, Timothy Fernback as the CFO, Kelly Pladson as the Corporate Secretary, and Raymond Wladichuk, P.Geo as VP Exploration.
The board of directors of the Resulting Issuer will be comprised of James Pettit, Timothy Fernback, Jordan Trimble, Simon Dyakowski, Riley Trimble and Nick Findler. Please see the Company’s news release dated May 12, 2021, and the Filing Statement for additional information on the incoming board of directors and management team.
The TCAP Shares are currently halted from trading, and the trading of the TCAP Shares is expected to remain halted pending completion of the Transaction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tri Capital Opportunities Corp.
James PettitPresident and CEO
For further information, please contact:
Tri Capital Opportunities Corp.Kelly Pladson, Corporate SecretaryEmail: email@example.comTel: (604) 639-3857
Forward Looking Information
Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The information in this press release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements with respect to the completion of the Transaction, resumption of trading in the TCAP Shares and the Company’s anticipated Name Change.
Such statements and information reflect the current view of the Company. Risks and uncertainties exist that may cause actual results to differ materially from those indicated or implied in the forward-looking statements and information. Such factors include, among others: the risk that required approvals and the satisfaction of material conditions are not obtained in connection with the Transaction; the risk that the Transaction is not approved or completed by the Anticipated Closing Date or on the terms set out in the definitive agreement; reliance on key management; disruptions or changes in the credit or security markets; risks associated with the COVID-19 pandemic; unanticipated costs and expenses; and general market and industry conditions.
The forward-looking statements, while considered reasonable by the Company, are inherently based upon assumptions that are subject to significant risks and uncertainties, including, but not limited to, assumptions that all conditions to the closing of the Transaction will be satisfied, the Transaction will be completed by the Anticipated Closing Date and on the terms set forth in the definitive agreement and the Company will be able to carry out its business plan as contemplated. Although TCAP and the Optionor believe that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct.
The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.Source: Tri Capital Opportunities Corp.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- United Nations Global Compact recognizes most engaged companies in 2021
- FDA Advisory Committee Votes Unanimously in Favor of COMIRNATY® Booster for Emergency Use in People 65 and Older and Certain High-Risk Populations
- Xi'an Taking Measures to Ensure the Smooth Running of National Games, Accelerates the Adoption of Healthy Lifestyles across the Local Community
Create E-mail Alert Related CategoriesGlobe Newswire, Press Releases
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!