Altair Signs Agreement with International Silver Inc.
Altair Signs Agreement with International Silver Inc.
VANCOUVER, BRITISH COLUMBIA – February 22 nd , 2019: ALTAIR RESOURCES INC. (“Altair” or the
“Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. Harold (Roy)
Shipes, Chairman and CEO, is pleased to announce that it has reached agreement with International Silver
Inc. (“ISLV”) to sell its U.S. subsidiary, Altair Mining Inc., to ISLV. Mr. Shipes serves as Chairman and CEO of
the Company as well as ISLV.
Under the terms of the agreement, which is subject to regulatory approval, the Company has agreed to sell
the US subsidiary for $ 240,000, 5,000,000 shares of ISLV , and a 2% NSR on the production from both the
Prince and Pan American mines. The cash payment will be settled by Mr. Shipes by way of forgiveness of
debt owing to him by the Company. Mr. Shipes abstained from voting on the transaction.
The Board has determined that disposing of its U.S. subsidiary was in the best interests of the Company at
this time as the sale will eliminate significant debt from its balance sheet and also eliminate significant
commitments and contingencies related to the acquisitions of the Prince and Pan American Mines and the
Caselton Concentrator.
All prior agreements and arrangem ents, including a joint venture with ISLV and proposed purchase of
electro winning cells from Mr. Shipes, have been terminated.
The Company continues to hold a 100% interest in its Peru property, a 900 hectare copper/gold property
located in the Province of Chumbivilcas adjacent to the Constancia operating mine. The Company continues
to review acquisition opportunities in Azerbaijan and Kazakhstan.
ON BEHALF OF THE BOARD,
“Harold Shipes”
Harold Shipes, Chairman & CEO
Neither 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.
Forward Looking Statement Caution
Certain information contained in this news release constitutes “forward- looking information” or “forward -looking
statements” (collectively, “forward -looking information”). Without limiting the foregoing, such forward -looking
information includes statements regarding the composition of the Plant and its intended use, the issuance of the
Consideration Shares and any statements regarding the Company’s business plans, expectations and objectives. There
can be no assurance that the Company will proceed to satisf y the conditions necessary to complete the acquisition of
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the Plant, including obtaining legal title to the Plant and completing the cash payment and the issuance of the
Consideration Shares. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”,
“anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward
looking information. Forward looking information should not be read as guarantees of future perf ormance or results,
and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will
be achieved. Forward -looking information is based on information available at the time and/or the Company
management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties,
assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional
information with respect to these and other factors and assumptions underlying the forward- looking information made
in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements
and other documents filed by the Company with the Canadian securiti es commissions and the discussion of risk factors
set out therein. Such documents are available at www.sedar.com under the Company’s profile and on the Company’s
website, http://www.altairresources.com/. The forward -looking information set forth herein reflects the Company’s
expectations as at the date of this news release and is subject to change after such date. The Company disclaims any
intention or obligatio n to update or revise any forward -looking information, whether as a result of new information,
future events or otherwise, other than as required by law.