Home / Mining Company News Releases (Unreviewed) / Magnitude Mining Ltd. Terminates Amalgamation Agreement with PesoRama Inc.

Magnitude Mining Ltd. Terminates Amalgamation Agreement with PesoRama Inc.

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2019) – Magnitude Mining Ltd. (TSXV: MML.P) (the “Company“), a capital pool company listed on the TSX Venture Exchange (the “TSXV“), announces that the transaction (the “Transaction“) between the Company, Pesorama Inc. (“PesoRama“) and 11123807 Canada Corp., as previously announced on December 10, 2018, will not be proceeding.

The Company provided PesoRama with notice of termination today, pursuant to the terms of the amalgamation agreement dated December 6, 2018.

The Company will continue to pursue other opportunities with a view to completing a Qualifying Transaction under the CPC policy of the TSXV.

The common shares of the Company are expected to resume trading on the TSXV upon receiving TSXV approval.

ON BEHALF OF THE BOARD

“Katharine De Witt”

_______________________________

Katharine De Witt Chief Executive Officer, Corporate Secretary and Director

For further information please contact:

Magnitude Mining Ltd.:
Marcel de Groot, Director
Telephone: 604-628-1102

Neither the TSX Venture Exchange, Inc. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43806

 

Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://www.newsfilecorp.com/release/43806/Magnitude-Mining-Ltd.-Terminates-Amalgamation-Agreement-with-PesoRama-Inc.. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

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