VANCOUVER, British Columbia, Sept. 03, 2020 (GLOBE NEWSWIRE) — Major Precious Metals Corp. (“Major Precious Metals” or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ) is very pleased to announce that the Greenland Government has approved the transfer of the Skaergaard Exploration Licences (EL 2007/01 and EL 2012/25) to Major Precious Metals. This concludes all due diligence and property specific process and transfer items.
Major Precious Metals is also pleased to report that RPA Inc. will be completing their site visit for the Skaergaard Project starting on September 10, 2020 with September 11 being a backup date in case of weather delays.The RPA team will also review historical drill core from the Skaergaard Project located at a core storage facility in Reykjavik, Iceland, and amongst other things, complete interval sampling for titanium, vanadium and gallium and other anomalous elements that could potentially contribute positively to the value and economics of the Skaergaard Project as part of an expanded dataset for a Preliminary Economic Assessment.The full and final closing of the Skaergaard acquisition (“Acquisition”) now remains subject only to the approval of the Canadian Securities Exchange (“CSE” or the “Exchange”) and customary closing items for a transaction of this nature. The CSE has concluded that the acquisition constitutes a fundamental change for the Company in accordance with the policies of the Exchange. As a result, the acquisition also requires approval of the shareholders of the Company. The Company intends to obtain such approval by way of written consent of the holders of the majority of the outstanding share capital of the Company. Holders consenting to the acquisition will be asked to confirm that they would vote in favour of the acquisition in the event it was presented for approval at a meeting of the shareholders of the Company.The Company believes that this should expedite the process of moving forward to focus on its asset base.Qualified Person StatementAll scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., President & CEO of Major Precious Metals Corp, who is a Qualified Person as defined in NI 43-101.On behalf of the Board of DirectorsMAJOR PRECIOUS METALS CORP.Paul Ténière, M.Sc., P.Geo.
President and Chief Executive Officer
Suite 810 – 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: (604) 687-2038About Major Precious Metals Corp.Major Precious Metals is a Canadian junior mining and exploration company based in Vancouver, BC that owns a diversified portfolio of exploration properties within some of the most promising precious and base metal deposits worldwide. Major Precious Metals is also engaged in the business of acquiring and exploring precious metal projects near or adjacent to existing mining operations controlled by well-established mining companies.Major Precious Metals is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “SIZE.” Additional information relating to Major Precious Metals is available on SEDAR at www.sedar.com as well as on the CSE at www.theCSE.com.The Canadian Securities Exchange has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this news release.Forward-looking Information StatementThis news release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United States securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the anticipated completion of the Acquisition, the process by which the Company intends to obtain shareholder approval for the Acquisition, regulatory requirements or approvals necessary for completion of the Acquisition, the resumption of trading in the common shares of the Company, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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