Sierra Madre Announces Filing of Filing Statement in Connection With Reverse Takeover of Goldshore Resources Inc.
Sierra Madre Announces Filing of Filing Statement in Connection With Reverse Takeover
of Goldshore Resources Inc.
Not for distribution to United States newswire services or for release publication, distribution
or dissemination directly, or indirectly, in whole or in part, in or into the United States.
VANCOUVER, May 26 , 2021 – Sierra Madre Developments Inc . (NEX: SMG .H) (“ Sierra
Madre” or the “Company”) is pleased to announce that it has received conditional approval from
the TSX Venture Exchange (the “ TSXV”) for its previously announced Reverse Takeover (as
defined in TSXV Policy 5.2) (the “Transaction”) with Goldshore Resources Inc. (“Goldshore”).
The Transaction will result in a reverse take -over of Sierra Madre by the shareholders of
Goldshore.
Completion of the Transaction remains subject to the satisfaction of customary closing conditions.
In accordance with TSXV requirements, Sierra Madre has filed a filing statement dated May 26,
2021 (the “Filing Statement”) on Sierra Madre’s SEDAR profile at www.sedar.com.
Closing of the Transaction is expected to occur on or about May 31, 2021. The Company will issue
a further news release announcing the closing of the Transaction and the date on which trading in
the common shares of the Company will resume on the TSXV. Trading will remain halted pending
completion of the Transaction and the issuance of the final TSXV bulletin in respect of the
Transaction.
About Goldshore
Goldshore is an emerging junior g old developer, and in connection with the Transaction it will
acquire the Moss Lake Gold Project from Wesdome Gold Mines Ltd. Well-financed after having
completed a $25 million financing and supported by an industry-leading management group, board
of directors and advisory board, Goldshore is well positioned to advance the Moss Lake Gold
Project through the next stages of exploration and development.
About Sierra Madre
Sierra Madre is listed on the NEX board of the TSXV. Sierra Madre has no commercial operations
and no assets other than cash.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward -looking information” (“forward -
looking information”) within the meaning of the applicable Cana dian securities legislation. All
statements, other than statements of historical fact, are forward-looking information and are based
on expectations, estimates and projections as at the date of this news release. Any statement that
discusses predictions, e xpectations, beliefs, plans, projections, objectives, assumptions, future
events or performance (often but not always using phrases such as “expects”, or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain
actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be
achieved) are not statements of historical fact and may be forward-looking information. Forward-
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looking statements in this news release include statements regarding the closing of the Transaction
and the potential listing on the TSXV. In disclosing the forward-looking information contained in
this press release, the Company has made certain assumptions, including that all applicable
regulatory approvals for the Transaction will be received and the Transaction will be completed
on the terms set forth in this press release, on acceptable terms or at all. Although the Company
believes that the expectations reflected in such forward-looking information are reasonable, it can
give no assurance that the expectations of any forward -looking information will prove to be
correct. Known and unknown risks, unce rtainties, and other factors which may cause the actual
results and future events to differ materially from those expressed or implied by such forward -
looking information. Such factors include, but are not limited to, delay or failure to receive
regulatory approvals. Except as required by law, the Company disclaims any intention and assumes
no obligation to update or revise any forward-looking information to reflect actual results, whether
as a result of new information, future events, changes in assumptions, changes in factors affecting
such forward-looking information or otherwise.
For further information contact:
Hani Zabaneh Brett A. Richards
CEO, Sierra Madre Developments Inc. President and Chief Executive Officer
e: [email protected] e. [email protected]
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
Completion of the Transaction is subject to a number of conditions, including but not limited to ,
the approval of the TSXV, regulatory and third -party approvals and the satisfaction of other
closing conditions. 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 Filing Statement, 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 TSXV has in no way passed upon the merits of the proposed Transaction and has neither
approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the TSXV) accep ts responsibility for
the adequacy or accuracy of this release.