MONTREAL, QUEBEC--(Marketwired - May 7, 2017) - Geomega Resources Inc. ("GéoMégA" or the "Corporation") (TSX VENTURE:GMA) wishes to inform its shareholders that due to additional regulatory requirement that were brought to the Corporation's attention, the distribution (the "Distribution") of the common shares of Kintavar Exploration Inc. to the shareholders of GéoMégA announced in the May 1, 2017 press release must be postponed until the next annual and special shareholders' meeting of the Corporation in order to meet the statutory requirements which provide for a shareholders' approval for a distribution in the form of return of capital.
Géoméga regrets that its shareholders will have an extended waiting time for the distribution to be completed.
The Corporation firmly believes that a distribution in the form of return of capital is in the best interest of its shareholders as it provides the best taxation conditions to its shareholders. As a result, it will be taking the necessary measures to comply with the statutory requirements for the completion of the distribution upon receiving the shareholders' approval at the next annual and special shareholders' meeting to be held in October 2017.
About GéoMégA (www.geomega.ca)
GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders' engagement and dedication to local transformation benefits.
78,258,049 common shares of GéoMégA are currently issued and outstanding.
About Innord
Innord is a private subsidiary of GéoMégA of which GéoMégA owns 96.1%. The goal of Innord Inc. is to develop and optimize the proprietary separation process of rare earth elements based on electrophoresis, for which it holds all the rights. Electrophoresis is the migration of charged species (ions, proteins, particles) in solution in the presence of an electric field. Innord has filed patents in Canada and the United States to protect its novel separation process and is looking to file in other jurisdictions.
