VANCOUVER, May 9, 2018 /CNW/ - Margaux Red Capital Inc.
(TSXV-SGMA) ("Margaux") and Sigma Lithium Resources Inc.
("Sigma") are pleased to announce that the TSX Venture
Exchange (the "TSXV") has issued its final exchange bulletin
for the previously announced Qualifying Transaction for Margaux
(the "Transaction"). The common shares of Margaux
resumed trading on the TSXV on Wednesday,
May 9, 2018 under the new ticker symbol "SGMA" (formerly
NEX-MXC.H).
"We are excited to start trading on the TSX Venture Exchange,
representing a milestone for Sigma following the four years of
exploring and mapping which has resulted in the recent filing of
our technical report which estimates significant high grade, hard
rock lithium deposits and the potential for significant expansion
at our project in Brazil," says
Chief Executive Officer, Calvyn
Gardner. "We now have the proceeds to conduct
feasibility tests as a result of our $20
million financing completed as part of the Qualifying
Transaction and to move forward with our pilot plant ahead of
production currently targeted for 2019," Mr. Gardner adds.
It is expected that shareholder approval will be sought at the
upcoming annual meeting of Margaux's shareholders to be held on or
about June 18, 2018 to, among other
things, change Margaux's name to "Sigma Lithium Resources Inc." and
to undertake a consolidation of the outstanding common shares of
Margaux.
Full details of the Transaction and the business of Sigma are
contained in the filing statement for the Transaction dated
April 25, 2018 which is available
under Margaux's profile on SEDAR at www.sedar.com.
Other than as described herein, the TSXV has in no way passed
upon the merits of the Transaction and has neither approved nor
disapproved the contents of this news release.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements
relating to the use of proceeds of the private placement completed
as part of the Transaction and other statements that are not
historical facts. Readers are cautioned not to place undue reliance
on forward-looking statements, as there can be no assurance that
the plans, intentions or expectations upon which they are based
will occur. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties,
both general and specific, that contribute to the possibility that
the predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause actual performance and
results in future periods to differ materially from any estimates
or projections of future performance or results expressed or
implied by such forward-looking statements. These assumptions,
risks and uncertainties include, among other things: the state of
the economy in general and capital markets in particular and
investor interest in the business and future prospects of Margaux
and Sigma.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, Margaux and Sigma disclaim any intention and assume no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable securities law. Additionally,
Margaux and Sigma undertake no obligation to comment on the
expectations of, or statements made, by third parties in respect of
the matters discussed above.
SOURCE Margaux Red Capital Inc.