BE Resources Announces Clarifications to its Proxy Circular | 2021-10-05 | Press Releases
TORONTO, Oct 05, 2021 (GLOBE NEWSWIRE) – BE Resources Inc. (TSXV: BER.H) (“BE resources”Or the“Society”) States that in its management information circular (the”Circular”) Dated September 2, 2021 under the heading“Goal” in the “Redomicile Approval ” section on page 16 of the Circular, the Company has made an error in the text of paragraph (f). Despite the wording of paragraph (f) of the circular, at this meeting, shareholders are not asked to approve an agreement whereby BE Resources will acquire a Canadian graphene company as part of a transaction whereby the shareholders of the target company would control BE Resources after closing. The objective in (f) was rather to inform the shareholders that one of the advantages of Redomicile was to simplify the process of any future Canadian acquisition by BE Resources and to make it more tax-efficient for the Canadian shareholders of any target company. potential to combine with BE Resources. The board of directors of BE Resources does not recommend the approval of such a transaction at this time. If the transaction progresses to the stage where a definitive agreement is signed by the Board, BE Resources will convene another meeting at which shareholders will have the opportunity to review and vote on the proposed transaction.
The following is an update on the status of the potential transaction with Bio Graphene Solutions Inc. (“BGS & CloseCurlyDoubleQuote;).
- BGS has satisfied the condition of our letter of intent to raise a minimum of $ 600,000 to $ 0.15 per share.
- BGS has started the initial production of graphene from organic carbon sources at its site in Cambridge, Ontario.
- BE Resources is waiting to review the BGS audit and disclosure of the BGS proposed listing statement before moving to final agreements.
- If BE Resources is not satisfied with the audit or this disclosure, or if it fails to complete a transaction with BGS, the board believes that the proposed redevelopment will improve its attractiveness for other transactions with Canadian issuers. and Canadian shareholders.
For more information:
Carmelo Marrelli, Chairman and CEO
82 Richmond Street East
Toronto, Ontario M5C 1P1
T (418) 531-1060
C (416) 278-5519
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This press release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of BE Resources. Forward-looking statements include estimates and statements that describe BE Resources’ future plans, objectives or goals, including words indicating that BE Resources or its management expects a stated condition or result to occur. Forward-looking statements may be identified by terms such as “believes & CloseCurlyDoubleQuote ;,” anticipates & CloseCurlyDoubleQuote;, “expects & CloseCurlyDoubleQuote;,” believes & CloseCurlyDoubleQuote; “,” Can & CloseCurlyDoubleQuote;, “could & CloseCurlyDoubleQuote; Because forward-looking statements are based on assumptions and deal with future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on information currently available to BE Resources, the Company provides no assurance that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, without limitation, BE Resources’ objectives, goals or future plans, statements, company portfolio, treasury, management team and profile improved capital markets; and estimates of market conditions. Factors that could cause actual results to differ materially from this forward-looking information include obtaining required government, regulatory, environmental or other approvals with respect to debt settlement and the Company’s operations, political risks , uncertainties relating to the availability and costs of financing required in the future, fluctuations in stock markets, inflation, variations in exchange rates, fluctuations in commodity prices, delays in project development Estimates, varying capital and operating costs and other risks involved in the mineral exploration and development industry, and the risks set out in BE Resources’ public documents filed on SEDAR. Although BE Resources believes that the assumptions and factors used in preparing the forward-looking information in this press release are reasonable, you should not place undue reliance on such information, which only applies as of the date of this press release. press release, and no assurance can be given as such events will occur within the timeframe disclosed or will not occur at all. BE Resources disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.