Pistol Bay Considers Business Outside of Resources
01 Agosto 2018 - 10:20AM
Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink
Sheet symbol SLTFF) (“Pistol Bay” or the “Company’) announces that
despite the recent encouraging results of the 2018 Confederation
Lake drilling program and the existing potential still to be
explored on the 51,050 acres Zinc-Copper Properties, with 570 holes
drilled to date, the Company is considering other business
ventures.
The Company has no current intention of
abandoning the Confederation Lake properties, but the geopolitical
world we are in has dampened the demand for commodities. With this
in mind, the company is considering becoming involved in the
cannabis industry which has become a major focus for capital
markets. The reason for the Company’s interest in this industry is
because of the opportunities being presented to the Company.
Cannabis companies have raised substantial capital from the public
markets and many companies’ shareholders have seen increased share
values.
The Company has not signed any term sheet,
letter of intent or indication of interest, and has no particular
transaction which it is currently pursuing in the cannabis
industry. However, as opportunities present themselves, management
will take the time to consider whether those opportunities would
better serve the interests of the Company’s shareholders.
Canada’s anticipated legalization of cannabis has put Canada in an
advantageous position within this industry.
Charles Desjardins, CEO of Pistol Bay states “We
definitely still believe in the potential of the Confederation Lake
project, but we want to create value now for Pistol Bay
shareholders, so we will start looking seriously at the cannabis
opportunities that are being presented to the Company. If the right
deal comes along, and if we believe that we as a Company can add
value because of our experience and connections in the public
markets, it would only make sense to take that deal and try to make
it a success. We will not jump at the first thing that comes along
but will take the time to make decisions based on the right
reasons. No particular deal is imminent at this time.”
The Company also announces that it has engaged
the law firm of Cassel Brock & Blackwell LLP with the intention
of advising Pistol Bay in the cannabis space.
Pistol Bay is also pleased to welcome Dr Zoltan
P Rona to its Advisory Board. Dr Zoltan is a graduate of McGill
University Medical School and has a Masters Degree in Biochemistry
and Clinical Nutrition. He is a 40-year member of the Canadian
Medical Association (CMA) and a past president of The Canadian
Holistic Medical Association. He is the author of best selling
books on health along with a private medical practice in Toronto
for the past 37 years. He has appeared on radio and TV as well as
lectured extensively in Canada and the US.
He currently writes regular articles for Alive
and Vitality magazines and for several web sites on the appropriate
medical usage of cannabis.
His latest focus is peer reviewed cannabinoid
research and the safe utilization of this medicine in conjunction
with natural health products. He not only understands this
burgeoning sector from a medical prospective, but has several years
of insights and effective results in the safe and therapeutic usage
of cannabis.
On Behalf of the Board of Directors PISTOL
BAY MINING INC.
"Charles
Desjardins"
Charles Desjardins, President and
Directorpistolbaymining@gmail.com
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.
Cautionary note: This report contains forward
looking statements. Resource estimates, unless specifically noted,
are considered speculative. Any and all other resource or reserve
estimates are historical in nature and should not be relied upon.
By their nature, forward looking statements involve risk and
uncertainties because they relate to events and depend on factors
that will or may occur in the future. Actual results may vary
depending upon exploration activities, industry production,
commodity demand and pricing, currency exchange rates, and, but not
limited to, general economic factors. Cautionary Note to US
investors: The U.S. Securities and Exchange Commission specifically
prohibits the use of certain terms, such as "reserves" unless such
figures are based upon actual production or formation tests and can
be shown to be economically and legally producible under existing
economic and operating conditions.
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