CRC - Canter Completes Acquisition of Altitude Ventures
Vancouver, British Columbia--(Newsfile Corp. - November 21, 2023) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") is pleased to announce that, further to its news release dated November 13, 2023, it has completed the acquisition of Altitude Ventures Corp. ("Altitude") pursuant to the terms of an amalgamation agreement dated November 10, 2023 (the "Amalgamation Agreement") among Canter, Canter's wholly-owned subsidiary, 1447235 B.C. Ltd. ("Subco"), and Altitude (the "Transaction").
The Transaction was completed by way of a three-cornered amalgamation under the Business Corporation Act (British Columbia) among Canter, Subco and Altitude. Pursuant to the Transaction, Altitude amalgamated with Subco and the holders of shares of Altitude (the "Altitude Shares") each received one common share of Canter (a "Canter Share") for every one Altitude Share. The Company issued a total of 18,020,001 Canter Shares to the shareholders of Altitude as consideration for all of the outstanding Altitude Shares pursuant to the Transaction. The amalgamated company became a wholly-owned subsidiary of Canter. No finder's fees were paid in connection with the Transaction.
Altitude holds the sole option to acquire a 100% interest of the 23,000-acre lithium exploration project located in the Columbus Salt Marsh Basin, Esmerelda County, Nevada, USA, being the "Columbus Lithium-Boron Project". In addition, Altitude holds a 100% interest in certain Beaver Creek lithium occurrences located in the town of Lincoln, Montana, USA, being the "Beaver Creek Property". For additional details regarding the Columbus Lithium-Boron Property and the Montana Property, see the Company's news release dated November 13, 2023 available on the Company's SEDAR+ profile at www.sedarplus.ca.
About Canter Resources Corp.
Canter Resources Corp. is a Canadian junior mineral exploration company advancing the Columbus Lithium-Boron Project in Nevada, USA, the Beaver Creek Lithium Property in Montana, USA, and the Puzzle Lake Property in Saskatchewan, Canada. The Company is preparing for a Phase I drill campaign at Columbus to test a highly prospective lithium-brine target and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the domestic clean energy supply chain in North America.
For further information, contact:
Hani Zabaneh
Chief Executive Officer
Canter Resources Corp.
info@canterresources.com
The securities to be issued pursuant to the Transaction have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release will not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the business of the Company, references to the potential of the Columbus Lithium-Boron Property and the Montana Property and related matters. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canter Resources Corp., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188335