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Apogee Opportunities Inc. Announces Sale of Cachinal

News Provided by GlobeNewswire2018-06-25
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NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

TORONTO, June 25, 2018 (GLOBE NEWSWIRE) -- Apogee Opportunities Inc.(“Apogee” or the “Company”) (NEO:APE) has entered into a definitive agreement with Aftermath Silver Ltd. (“Aftermath”), whereby Aftermath has agreed to acquire Apogee’s holdings in the Cachinal De La Sierra Silver-Gold Project (the “Project”) through the purchase by Aftermath of all of Apogee’s shares in the Chilean holding company Minera Cachinal S.A., representing approximately 80% ownership in such entity (the “Proposed Transaction”).

In connection with the Proposed Transaction, Aftermath has agreed to pay Apogee CAD$1,500,000 cash for its approximate 80% interest in Minera Cachinal S.A. and has agreed to assume certain of Apogee’s liabilities with respect to the Project. 

The Proposed Transaction remains subject to the receipt of all necessary regulatory approvals, including the approval of applicable stock exchanges and necessary shareholder approvals.  Closing of the Proposed Transaction is expected to occur following Apogee’s previously announced reverse takeover transaction with ANM, Inc.

For Further Information Contact:

G. Scott Paterson
Chairman of Apogee
Tel:  +1 (416) 917-1964
spaterson@patersonpartners.com

Completion of the Proposed Transaction is subject to a number of conditions, including receipt of regulatory approvals and the receipt of necessary shareholder approval. The Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of Apogee with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the intention of Apogee and Aftermath to negotiate for or complete the Proposed Transaction. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company and Halo operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. In particular, there is no guarantee that the parties will successfully close the Proposed Transaction contemplated herein, that the parties will obtain any required shareholder or regulatory approvals. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Neither of the Company no Halo undertakes any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 



© 2018 GlobeNewswire, Inc. All Rights Reserved.

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The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


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