Pambili receives final TSXV approval for its acquisition of the Golden Valley Mine
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[NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES]
CALGARY, Canada – TheNewswire - (July 2, 2024) – Pambili Natural Resources Corporation ("Pambili" or the "Company") (TSX-V: PNN) is pleased to confirm that the Company’s Share Purchase Agreement (the “Transaction”) with White Satin Investments (Private) Limited (“White Satin”) for the acquisition of the Golden Valley Gold Mine (“GVM”) near Bulawayo, Zimbabwe has received Final Approval by the TSX Venture Exchange (“TSXV”).
As stated in Pambili’s news release dated June 20, 2024, the Transaction is at arm’s length for purposes of the policies of the TSXV. As announced on March 5, 2024, the TSXX deemed the transaction to be a Reviewable Transaction pursuant to Policy 5.3 (Acquisitions and Dispositions of Non-Cash Assets) of the TSXV’s Corporate Finance Manual.
Having satisfied the requirements of that review, which included the approval of the Company’s updated NI 43-101 Technical Report (available on SEDAR and Pambili’s website), the TSXV has granted Final Acceptance of the Transaction.
Jon Harris, Chief Executive Officer of Pambili, commented:
“The Final Acceptance of the Transaction by the TSXV confirms that the Company has complied with the exchange requirements. More importantly, it also provides us with a secure platform from which to develop our strategy of consolidating under-performing gold mines starved of the capital required to develop their full potential.
We expect to announce further such acquisitions in due course.”
For further details on the Transaction, please refer to our news release dated June 20, 2024.
About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and in the province of Alberta.
For further information, contact:
Pambili Natural Resources Corporation
T: 403 277 4421
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.
Caution regarding forward-looking information and forward-looking statements: Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to work to be done on the Happy Valley mine in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.