Bitumen Provides Update Regarding Its Ongoing Qualifying Transaction with Goliath Resources Limited and Revocation of Failure to File Cease Trade Order
1
BITUMEN CAPITAL INC.
800, Square Victoria Street, 43rd Floor
Montreal, Quebec H4Z 1H1
NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
BITUMEN PROVIDES UPDATE REGARDING ITS ONGOING QUALIFYING
TRANSACTION WITH GOLIATH RESOURCES LIMITED AND REVOCATION OF
FAILURE TO FILE CEASE TRADE ORDER
Montreal, September 22 nd, 2017 - Bitumen Capital Inc. (TSX-V: BTM.H) (the
"Company" or “ Bitumen”) is pleased to announce that, the failure to file cease trade
order (the “FFCTO”) that was pronounced on May 8, 2017, by the Autorité des Marchés
Financiers (the “AMF”) and the Ontario Securities Commission (the “ OSC”) following
the inability of the Company to file its annual audited financial statements for the
financial year ended on December 31, 2016, ha s been revoked this day by both the AMF
and the OSC following the fulfillment by the Company of all of its continuous disclosure
obligations according to Regulation 51-102 respecti ng Continuous Disclosure
Obligations.
Moreover, the Company intends to provide an update regarding its ongoing Qualifying
Transaction with Goliath Resources Limited (“ Goliath”) and the acquisition agreement
that was entered by and between Goliath and the Company on August 1 st, 2017 (the
“Acquisition Agreement ”), as announced in the press release dated the same day.
Bitumen and Goliath have concluded an am endment to the Acquisition Agreement dated
September 22, 2017 (the “ Amending Agreement ”), which provides that the
consolidation ratio of Bitume n’s common shares be amended from a ratio of (1) post-
consolidation Bitumen share for every tw o (2) pre-consolidation Bitumen common
shares; to a ratio of one (1) post-consolidation Bitumen common share for every one
point sixty seven (1.67) pre-consolidation Bitumen common shares.
The Qualifying Transaction is subject to requisite regulatory approval, including the
approval of the TSX Venture Exchange (the “TSXV”).
For further information: Mr. Richard Groome,
President and Chief Executive Officer,
Bitumen Capital Inc.
(514) 402 4405
2
About Bitumen
Bitumen is a capital pool company listed on the NEX board of the TSXV. The Company
is engaged in the identification and evaluati on of assets or businesses with a view of
completing a Qualifying Transaction. Bitumen is a "reporting issuer" in the Provinces of
Quebec, Ontario, British Columbia and Alberta.
Neither TSX Venture Exchange nor its Regulati on Services Provider (as that term is
defined in the policies of the TSX Ventur e Exchange) accepts responsibility for the
adequacy or accuracy of this release.