The Settlements represent payments for fees owing to professional advisors, consulting fees and also the settlement of various other liabilities including directors' fees and loan amounts. Completion of the Settlements will allow the Company to preserve its existing cash balances.
The Company will issue up to 3,438,040 common shares of the Company (the "Shares") at a deemed price of
Up to 2,160,000 Shares will be issued in settlement of up to
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the Settlements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Morumbi believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Morumbi disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chris BuncicPresident & CEO Tel: 416-366-4200 email@example.com Source: Morumbi Resources Inc.