VANCOUVER, Feb. 25, 2015 /CNW/ - Montan Capital Corp.
(TSXv: MO.P) ("Montan") and Strait Minerals Inc. (TSXv:
SRD) ("Strait") are pleased to announce that at each of
their respective meetings of shareholders held on February 24, 2015, the shareholders of Montan
(the "Montan Shareholders") and the shareholders of
Strait (the "Strait Shareholders") gave the requisite
approvals for the Amalgamation Resolution (as set out in the Joint
Management Information Circular (the "Circular") of
Montan and Strait dated January 23,
2015), thereby approving the transactions (the
"Transactions") set out in the Amalgamation Agreement dated
January 6, 2015, among Montan, Strait
and 1023174 B.C. Ltd., a newly incorporated wholly-owned subsidiary
of Strait. The Amalgamation Resolution was approved by 100% of the
Montan Shareholders who voted at the meeting and 100% of the Strait
Shareholders who voted at the meeting. The Strait Shareholders also
overwhelmingly approved the Consolidation and Change of Name (as
set out in the Circular and the Joint Press Release issued
January 6, 2015) as well the new 2015
Stock Option Plan for Strait. Montan and Strait anticipate the
Amalgamation Agreement will close around February 27, 2015. The Montan Shareholders also
approved the cancellation of Seed Shares (as set out in the
Circular), its transfer to the NEX in the event the Transactions do
not close (as set out in the Circular), and the routine matters
relating to the annual general meeting of Montan.
The continuing company will be named Montan Mining Corp.
("Montan Mining") and be focused on exploration and mine
development in Peru. Montan Mining
will be led by an experienced management and capital markets team
with a track record of success in mine development in Peru (as well as other jurisdictions) and have
a local Peruvian shareholder support base. Montan Mining will
advance the Alicia Project for its high-grade copper potential and
provide its shareholders with a platform to seek further advanced
and/or cash flow opportunities in the Peruvian mining sector
presented by the current malaise in the mining and resource
market.
For additional information regarding the Amalgamation Agreement,
please see the Circular and the copy of the Amalgamation Agreement,
which have been filed under Montan's and Strait's profiles on SEDAR
at www.sedar.com.
Completion of the Transaction is subject to a number of
conditions, including, but not limited to, TSX Venture Exchange
acceptance.
Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared
in connection with the Transaction, 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.
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 news release.
Cautionary Note Regarding Forward-Looking Statements Certain
statements herein may contain forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. Forward-looking statements or information appear
in a number of places and can be identified by the use of words
such as "plans", "expects", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "believes" or variations
of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements and
information include statements regarding the closing of the
Transaction. With respect to forward looking statements and
information contained herein, we have made numerous assumptions,
including assumptions about final approval from the TSX Venture
Exchange and the ability to complete the Concurrent Financing (as
set out in the circular). Such forward-looking statements and
information are subject to risks, uncertainties and other factors
which may cause the resulting issuer's actual results, performance
or achievements, or industry results, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statement or information. Such
risks include the TSX Venture Exchange may not issue final approval
of the Transaction and the Concurrent Financing may not close.
There can be no assurance that a forward-looking statement or
information referenced herein will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements or information. Also, many of the
factors are beyond the control of the resulting issuer.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. We undertake no
obligation to reissue or update any forward-looking statements or
information except as required by law. All forward-looking
statements and information herein are qualified by this cautionary
statement.
SOURCE Montan Capital Corp.