African Metals Announces Name Change
AFRICAN METALS CORPORATION
African Metals Announces Name Change
FOR IMMEDIATE RELEASE: TORONTO, Ontario – The Newswire
November 18, 2021: African Metals Corporation (the "Company") [TSXV: AFR]
announces that it is changing its name to “AFR NuVenture Resources Inc.” pursuant to a
directors’ resolution dated November 3, 2021.
The common shares of the Company will commence trading on the TSX Venture Exchange at
the opening of trading on Tuesday, November 23, 2021 under the new name, ISIN number:
CA00111F1027 and CUSIP number: 00111F102. There is no change in the trading symbol,
which remains “AFR”. Common share certificates bearing the old Company name, “African
Metals Corporation”, continue to be valid in settlement of trades in common shares and will only
be replaced with certificates bearing the new name against transfer. The Company is not
requesting, and shareholders are not required to exchange their existing common share
certificates for new certificates bearing the new company name.
The Company is a mineral exploration company which was formerly focused on projects in the
Democratic Republic of Congo (“DRC”). As part of its recent restructuring, the Company
divested itself of its assets in the DRC.
John F. O’Donnell, Chairman and CEO of the Company stated that “the Company’s current
mission is to attempt to create a world class mineral exploration company which fosters respect
for the environment and a strong dedication to the welfare of our stakeholders. Just as
importantly, we are committed to promoting sustainable development in the communities within
which we operate, with transparency, integrity, and good faith. We are seeking exceptional
projects to explore and develop in favourable mineral jurisdictions which have stable political
environments together with modern and predictable mining legislation. Notwithstanding our
history and focus on the mineral exploration industry, we are not averse to looking at potential
projects in other sectors which could offer superior opportunities to create shareholder value.
The reason for the name change is to reflect our new broader and more global mission statement
while maintaining our historical ties to the old name and trading symbol.”
The Company is developing a website under the new name, and it is expected that it will be
operating this month. Further particulars will be announced when the website is fully functional.
The capitalization of the Company consists of an unlimited number of common shares with no
par value of which 18,038,681 shares are issued and outstanding. There are also issued and
outstanding incentive stock options to acquire up to a further 1,800,000 shares of the Company.
On behalf of the Board of Directors,
“John F. O’Donnell”
John F. O’Donnell, Chairman and CEO
For more information on the Company, investors should review the Company's filings on SEDAR
at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian
securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995). Such statements or information are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project",
"outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook.
Such statements include, among others, those concerning the Company's plans to attempt to create a
world class mineral exploration company which fosters respect for the environment and a strong
dedication to the welfare of our stakeholders as well as its plans to commence trading under its new name
on November 23, 2021. Such forward-looking information or statements are based on a number of risks,
uncertainties and assumptions which may cause actual results or other expectations to differ materially
from those anticipated and which may prove to be incorrect. Assumptions have been made regarding,
among other things, management's expectations regarding its ability to initiate and complete future
exploration work as expected and acquire and finance other projects. Actual results could differ
materially due to a number of factors, including, without limitation, operational risks in the completion of
the Company's future exploration work, technical, safety or regulatory issues, social and market
conditions related to the COVID-19 global pandemic; the worldwide economic and social impact of
COVID-19; the duration and extent of COVID-19; changes in general economic conditions; the
imposition of government restrictions on business related to COVID-19, any positive cases of COVID-19
at a project site or in the area which may cause a reduction or suspension in operations and activities
which may ultimately affect and delay the exploration timeline.
Although the Company believes that the expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's securities should not place undue
reliance on forward-looking statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information and statements contained in this news
release are as of the date of this news release and the Company assumes no obligation to update or revise
this forward-looking information and statements except as required by law.