Margaux Red Capital Inc. and Sigma Lithium Resources Inc. Announce Commencement of Trading of Margaux Shares on TSXV
TSX VENTURE: SGMA
VANCOUVER, May 9, 2018 /CNW/ - Margaux Red Capital Inc. (TSXV-SGMA) ("Margaux") and Sigma Lithium Resources Inc. ("Sigma") are pleased to announce that the TSX Venture Exchange (the "TSXV") has issued its final exchange bulletin for the previously announced Qualifying Transaction for Margaux (the "Transaction"). The common shares of Margaux resumed trading on the TSXV on Wednesday, May 9, 2018 under the new ticker symbol "SGMA" (formerly NEX-MXC.H).
"We are excited to start trading on the TSX Venture Exchange, representing a milestone for Sigma following the four years of exploring and mapping which has resulted in the recent filing of our technical report which estimates significant high grade, hard rock lithium deposits and the potential for significant expansion at our project in Brazil," says Chief Executive Officer, Calvyn Gardner. "We now have the proceeds to conduct feasibility tests as a result of our $20 million financing completed as part of the Qualifying Transaction and to move forward with our pilot plant ahead of production currently targeted for 2019," Mr. Gardner adds.
It is expected that shareholder approval will be sought at the upcoming annual meeting of Margaux's shareholders to be held on or about June 18, 2018 to, among other things, change Margaux's name to "Sigma Lithium Resources Inc." and to undertake a consolidation of the outstanding common shares of Margaux.
Full details of the Transaction and the business of Sigma are contained in the filing statement for the Transaction dated April 25, 2018 which is available under Margaux's profile on SEDAR at www.sedar.com.
Other than as described herein, the TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the use of proceeds of the private placement completed as part of the Transaction and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the state of the economy in general and capital markets in particular and investor interest in the business and future prospects of Margaux and Sigma.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, Margaux and Sigma disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Margaux and Sigma undertake no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.