Peat Resources Limited Signs Definitive Agreement to Acquire Belair African Metals SARL
Peat Resources Limited Signs Definitive Agreement to Acquire Belair African Metals SARL
TORONTO, Jan. 19, 2018 /CNW/ - Peat Resources Limited (TSXV: PET) (the "Company") announces that the Company has
signed a definitive agreement with Belair Maniema Corp for the acquisition of all the issued shares of Belair African Metals
SARL ("Belair") pursuant to a letter of intent announced on December 20, 2017.
The Company will acquire 100% of the issued shares of Belair in consideration of 15,000,000 fully-paid and non-assessable
common shares of the Company which will represent 9.42% of the 159,404,396 common shares of the Company expected to
be outstanding upon the completion of the transaction. The transaction remains subject to receipt of all necessary regulatory
approvals.
Belair is a private company in the Democratic Republic of the Congo (the "DRC"), licensed since 2015 for the commodity
trading of certified conflict-free tin, tantalum, and tungsten ("3Ts"). The Belair management team has over 10 years of
experience in mining and metals trading in the DRC.
The Company plans to expand the DRC conflict-free mining and metals trading business to include cobalt and copper in
addition to the 3Ts (the "Conflict-Free Cobalt Project"), increasing early revenue from its metals trading platform, which
currently purchases conflict-free concentrates directly from artisanal and small-scale producers for sale to international metal
trading and smelting companies.
The Company is actively working on acquiring high-grade cobalt and copper properties in the DRC to expand its property
portfolio. The Company is also actively working to enhance its current third-party traceability programs via a blockchain-based
protocol, to improve transparency, security, and immutability in certifying that its metals are sourced and traded conflict-free.
A presentation discussing all aspects of the Conflict-Free Cobalt Project has been available for download since the December
20 announcement via the Company website – https://protect-eu.mimecast.com/s/BugKCKOljH267JsvXu4k – and further
details will be announced as they become available.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release,
other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation
activities and events or developments that the Company expects are forward-looking statements. Although the Company
believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ materially from those in the statements.
There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These
include market prices, exploitation and exploration successes, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the forward-looking statements.
For more information on the Company, investors should review registered filings at https://protect-
eu.mimecast.com/s/M2JMCMjnlsq7BltW3jAm.
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.
Peat Resources Limited: Patricia Mannard, Telephone: (416) 862-7885, Email: [email protected]; IBK Capital
Corp.: Mike White, Telephone: 416-360-4511, Email: [email protected]; Website: https://protect-
eu.mimecast.com/s/BugKCKOljH267JsvXu4k