VANCOUVER, BC, May 17, 2021 /CNW/ - YUNTONE CAPITAL
CORP. ("Yuntone" or the "Company") (TSXV: YTC.H), a capital
pool company, is pleased to announce that it has received
conditional approval from the TSX Venture Exchange (the
"Exchange") for its qualifying transaction (the
"Transaction") with Mantaro Silver Corp. ("Mantaro").
As previously announced on October 27,
2020 and May 4, 2021, Yuntone
Capital will acquire all of the issued and outstanding shares of
Mantaro by way of a three cornered amalgamation. Mantaro owns five
silver-focused Peruvian mineral properties, consisting of its
flagship Santas Gloria Silver Property and the San Jose, La
Purisima, Cerro Luque and Huaranay
Properties (the "Silver Properties").
Yuntone has also filed its filing statement (the "Filing
Statement") and technical report on the Santas Gloria Property
in connection with the Transaction. The Filing Statement is dated
May 12, 2021 and posted on Yuntone's
SEDAR profile at www.sedar.com.
Subject to Yuntone satisfying the conditions of the Exchange,
closing of the Transaction is expected to occur in late
May 2021.
About Yuntone
Yuntone Realty Capital Corp. is a capital pool company
("CPC") as defined by Exchange Policy 2.4 ("Policy 2.4") and
the shares were listed for trading under the trading symbol
"YTC.H".
Information set forth in this news release contains
forward-looking statements. These statements relate to the
completion of the Offering, completion of the Transaction, use of
proceeds of the Offering, the expectations relating to officers,
directors and insiders of Mantaro, among others reflect
management's current estimates, beliefs, intentions and
expectations; they are not guarantees of future performance.
Yuntone cautions that all forward looking statements are inherently
uncertain and that actual performance may be affected by a number
of material factors, many of which are beyond Yuntone's control.
Such factors include, among other things: risks and uncertainties
relating to Yuntone's ability to complete the proposed Qualifying
Transaction and the Offering; and other risks and uncertainties.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward looking
information. Except as required under applicable securities
legislation, Yuntone undertakes no obligation to publicly update or
revise forward-looking information.
Completion of the transaction is subject to a number of
conditions, including but not limited to, Exchange acceptance and
if applicable pursuant to Exchange Requirements, majority of the
minority shareholder approval. Where applicable, the transaction
cannot close until the required shareholder approval is obtained.
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 filing statement to be 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 a capital pool company should be considered highly
speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
A halt in trading shall remain in place until after the
Qualifying Transaction is completed or such time that acceptable
documentation is filed with the TSX Venture Exchange.
NEITHER 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.
SOURCE Mantaro Silver Corp.