The Spin-Out would allow York Harbour to continue on as a single entity solely focused on its
It is anticipated that the Spin-Out will be completed by way of a statutory plan of arrangement (the 'Arrangement') under the Business Corporations Act (
The board of directors of York Harbour has determined that the intended Arrangement would be in the best interests of the Company and its shareholders and stakeholders. Among other things, the separation of the Nevada Assets into a separate public company would allow the capital markets to ascribe value to the assets independently of other properties. In addition, the transaction will also allow York Harbour management to focus their efforts on the development of its flagship high-grade Cu-Zn York Harbour Property.
About York Harbour
Contact:
Tel: +1-778-302-2257
Email: info@yorkharbourmetals.com
Web: www.yorkharbourmetals.com
Cautionary Statement Regarding Forward-Looking Information
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the prospects for economic recoverability of mineral resources. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements in this news release include, but are not limited to, statements regarding the completion of the Arrangement, the completion of conditions of the Arrangement, the listing of Phoenix Gold on the Canadian Securities Exchange or another stock exchange in
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements, including the conditions of the Arrangement not being met, the Arrangement not being completed, the availability of funds, the results of financing and exploration activities, unanticipated costs, expenses or liabilities associated with the Arrangement, the interpretation of exploration results and other geological data, and unanticipated costs and expenses and other risks identified by York Harbour in its public securities filings that may cause actual events to differ materially from current expectations. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
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