/NOT FOR DISTRIBUTION IN THE U.S. OR TO U.S.
NEWSWIRE SERVICES./
NEX-CZQ.H
TORONTO, March 2, 2020 /CNW/ - Continental Precious
Minerals Inc. ("Continental" or the "Company")
is pleased to announce that it has commenced delisting of its
common shares from the NEX Board of the TSX Venture Exchange in
connection the previously announced business combination with
Metamaterial Technologies Inc. ("MTI") approved at a special
meeting of the securityholders held on November 25, 2019 (the "Transaction"). The
delisting of the common shares from the NEX Board of the TSX
Venture Exchange is expected to be effective on March 4, 2020.
The Transaction, whereby MTI will amalgamate with a wholly-owned
subsidiary of the Company and the securityholders of MTI will
become securityholders of the Company, is anticipated to be
completed on or about March 5,
2020. In addition, as part of the Transaction, the Company
will change its name to "Metamaterial Inc." (the "Resulting
Issuer").
Continental is also pleased to announce that it anticipates that
the Resulting Issuer's common shares will be listed and posted for
trading on the on the facilities of the Canadian Securities
Exchange on or about March 9, 2020,
subject to customary conditions, including the completion of the
Transaction.
Forward-Looking Statements
This release includes forward-looking information within the
meaning of Canadian securities laws regarding Continental and its
business, which may include, but are not limited to, statements
with respect to the delisting of the Company's common shares from
the NEX Board of the TSX Venture Exchange, the completion of the
proposed Transaction, the listing of the common shares of the
Company on the Canadian Securities Exchange, and the timing of
such events. Often but not always, forward-looking information can
be identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of the Company, and are based on assumptions and subject to risks
and uncertainties. Although the management of the Company believes
that the assumptions underlying these statements are reasonable,
they may prove to be incorrect. The forward-looking events and
circumstances discussed in this release may not occur and could
differ materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including risks regarding
the technology industry, market conditions, economic factors,
management's ability to manage and to operate the business and the
equity markets generally. Although Continental has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and Continental does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Cautionary Statement
Completion of the Transaction is subject to a number of
conditions, including, if applicable, TSX Venture Exchange and CSE
acceptance. There can be no assurance that the Transaction will be
completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
management information circular or listing statement prepared in
connection with the Transaction, any information released or
received with respect to the Transaction may not be accurate or
complete and should not be relied upon. Trading in the securities
of Continental should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the transaction and has neither approved nor disapproved
the contents of this news release. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
The CSE has in neither approved nor disapproved the contents
of this news release.
SOURCE Continental Precious Minerals Inc.