John Zorbas, Director - Mr. Zorbas is the President of MGM Productions Group Inc., as well as a director of both ZorCorp Capital Holdings and Starline Capital Holdings Infrastructure Fund. Mr. Zorbas, who holds an Honors Bachelors in Economics from the University of Toronto, is also a founding shareholder of Asian Coast Development Ltd, one of South East Asia's leading developers of integrated resort and hotel properties. Throughout the past 10 years, Mr. Zorbas has held senior advisory positions in various facets of business including operations, marketing, sales, strategic planning and structured finance. Mr. Zorbas has also been involved in various notable transactions such as arranging and structuring the financing for the Bac Ha Hydro Plant in Vietnam, with the assistance of the Import Export Bank of the United States and successfully bidding at the Federal Network Agency of Germany's Spectrum auction, where he was awarded the license for the 4G spectrum.
Raphael Danon, Chief Financial Officer and Corporate Secretary - Mr. Danon began his professional career as a financial statement auditor where he was responsible for complex accounting issues before opening up his own practice in business advisory. Mr. Danon was responsible for both bringing in the client base, as well as dealing involved in all aspects of business advisory for clients, including business plans, financing, evaluation of internal controls and other business improvements and efficiencies. Mr. Danon is a founding shareholder of Asian Coast Development Ltd., an international property developer which is building an MGM Casino Resort in Vietnam, where he served as Interim Chief Financial Officer and VP of Finance. He helped raise over $80 Million for the project, in addition to setting up the company from its inception, manning many roles in its infancy as the company developed. Mr. Danon has sat on the board of directors for both Asian Coast Development and Niger Uranium Ltd. Mr. Danon graduated from York University in Toronto with an Honors B.A. in Accounting and has been a Member of the Institute of Chartered Accountants of Canada since 2003.
Sponsorship of a COB transaction may be required by the TSXV. The Corporation is currently reviewing the requirements for sponsorship and may apply for an exemption from the sponsorship requirements pursuant to the policies of the TSXV, however, there is no assurance that the Corporation will ultimately obtain this exemption. The Corporation intends to include any additional information regarding sponsorship in a subsequent press release.
Completion of the transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable, pursuant to the requirements of the TSXV, 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.
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 of the proposed COB transaction; use of funds; and the business and operations of the Corporation after 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. There can be no assurance that such statements will prove to be accurate, 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 Corporation 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.
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.
For further information regarding the COB transaction,
NWT Uranium Corp.
David Subotic, CEO
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