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VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) – Tri Capital Opportunities Corp. (“TCAP“or the”Company“) (TSXV: TCAP.P), a capital pool company, is pleased to announce that it has filed a filing statement dated July 20, 2021 (the”Declaration of deposit“) with the TSX Venture Exchange (the”TSXV“) for the acquisition of the option (the”Option“) of Eagle Plains Resources Ltd. (“Option or“) to acquire an 80% undivided interest in and in certain mineral claims in northern Saskatchewan, collectively known as the Pine Channel Gold Property.

The acquisition of the Option (the “Transaction“), as previously announced in the Company’s press release dated May 12, 2021, will constitute the Qualifying Transaction of TCAP, as defined in Policy 2.4 of the TSXV – Start-up capital companies. Assuming that all closing conditions are met, the Company and the Acquirer expect to close the Transaction on or around July 26, 2021 (the “Expected closing date“).

In due course, the parties to the Transaction will issue another detailed press release announcing, among other things, the closing of the Transaction and the date on which the ordinary shares of TCAP (the “TCAP actions”) Will resume the exchanges.

Name change

As part of the transaction, on or before the scheduled closing date, the company will change its name to “Alpha Minerals Ltd.” (the “Name change“) and the Company’s symbol will change from” TCAP.P “to” APMI “. Completion of the name change remains subject to TSXV approval.

Technical report

A technical report entitled “Technical Report for the Pine Channel Property” dated June 17, 2021, prepared in accordance with National Instrument 43-101 – Disclosure standards for mining projects, has been prepared for the Buyer’s Pine Channel gold property and will be filed under the Company’s SEDAR profile concurrently with the filing of the filing statement.

Management and board of directors

The resulting issuer’s management team will be led by James Pettit as President and CEO, Timothy Fernback as CFO, Kelly Pladson as Corporate Secretary and Raymond Wladichuk, P.Geo as as vice president of exploration.

The board of directors of the resulting issuer will consist of James Pettit, Timothy Fernback, Jordan Trimble, Simon Dyakowski, Riley Trimble and Nick Findler. Please see the company’s press release dated May 12, 2021 and the filing statement for more information on the new board of directors and management team.

Stop trade

TCAP shares are currently suspended from trading, and trading in TCAP shares is expected to remain suspended until the transaction is completed.

Caution

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 release.

For more information, please contact:

Tri Capital Opportunities Corp.

“Jim Pettit”

James PettitPresident and CEO

For more information, please contact:

Tri Capital Opportunities Corp. Kelly Pladson, Corporate Secretary Email: [email protected] Tel: (604) 639-3857

Forward-looking information

Investors are cautioned that, unless otherwise specified in the statement of custody, any information disclosed or received relating 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 viewed as highly speculative.

The information contained in this press release includes certain information and statements regarding management’s views on future events, expectations, plans and prospects that constitute forward-looking statements, including statements regarding the completion of the transaction, the resumption of trading in TCAP shares and the planned name change.

These statements and information reflect the current opinion of the Company. There are risks and uncertainties which may cause actual results to differ materially from those stated or implied in the forward-looking statements and information. These factors include, among others: the risk that the required approvals and the satisfaction of material conditions will not be obtained in connection with the Transaction; the risk that the Transaction will not be approved or completed on the Scheduled Closing Date or under the conditions set out in the final agreement; the use of key management; disruptions or changes in the credit or securities markets; the risks associated with the COVID-19 pandemic; unforeseen costs and expenses; and general market and industry conditions.

Forward-looking statements, while considered reasonable by the Company, are inherently based on assumptions that are subject to significant risks and uncertainties, including, but not limited to, assumptions that all of the conditions of the close of the Transaction will be completed, the Transaction will be completed on the Early Closing Date and according to the terms set out in the final agreement and the Company will be able to carry out its business plan as planned. Although TCAP and the Purchaser believe that the expectations reflected in forward-looking statements are reasonable, they cannot guarantee that the expectations in any forward-looking statement will prove to be correct.

The forward-looking information contained in this press release represents the Company’s expectations as of the date of this press release and, therefore, is subject to change after this date. Readers should not place undue importance on forward-looking information and should not rely on such information as of any other date. Although the Company may choose to do so, it does not undertake to update this information at any given time, except as required in accordance with applicable laws.

This press release does not constitute an offer to sell the securities in the United States. The securities have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an exemption from registration. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any state in which such an offer, solicitation or sale would be illegal.

Source: Tri Capital Opportunities Corp.

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