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Nobelium Tech Corp. Announces That It Will Not Be Proceeding with Proposted Qualifying Transaction with Maximos Metals Corp.



     

HALIFAX, NOVA SCOTIA - TheNewswire - May 29, 2020 – NOBELIUM TECH CORP. (“Nobelium” or the “Company”) (TSXV:NBL.H), a capital pool company, announces that it will not be proceeding with the previously announced arrangement, amalgamation, share exchange or similar transaction with Maximos Metals Corp. (“Maximos”). Nobelium is a Capital Pool Company (“CPC”) and had intended that the transaction with Maximos would constitute its “Qualifying Transaction”, as such term is defined in the policies of the TSX Venture Exchange (the “Exchange”).  Nobelium will immediately begin the process of identifying another Qualifying Transaction.  As a result of this ongoing transaction, the trading of the shares of Nobelium has been halted since the Qualifying Transaction was announced.  Nobelium will request that the Exchange allow the shares of Nobelium to resume trading.

  

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.

 

For further information:

 

Glenn Jessome, Director, T: 902-492-0298

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

 

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements include, but are not limited to, statements with respect to: the terms and conditions, timing, status and/or completion of the proposed transaction; use of funds; and the business and operations of the Company before and/or after completion of the proposed transaction.

 

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the results of operations; potential for conflicts of interests; as well as volatility of the Company’s common share price and volume. There can be no assurance that such statements will prove to be accurate or complete, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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