Tour de la Bourse, 43e étage 800, Square Victoria, C.P. 303
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BITUMEN CAPITAL INC.
Tour de la Bourse, 43e étage
800, Square Victoria, C.P. 303
Montréal (Québec) H4Z 1H1
NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
BITUMEN ANNOUNCES CONDITIONAL APPROVAL OF ITS QUALIFYING
TRANSACTION AND POSTING OF ITS FILING STATEMENT
Montreal, September 28, 2017 - Bitumen Capital Inc. (TSX -V: BTM.H) (the
"Company") is pleased to announce that it has received the conditional approval of the
TSX Venture Exchange ("TSXV") to close its Qualifying Transaction. The Company
previously announced on August 1, 2017 a definitive acquisition agreement (as amended
on September 22, 2017) with Goliath Resources Limi ted ("Goliath") pursuant to which
the Company and Goliath will complete the transaction that will result in a reverse take -
over of the Company by the shareholders of Goliath (the "Transaction").
The Company is also pleased to announce that it has posted a Filing Statement dated
September 28, 2017 on the Company's profile on SEDAR (www.sedar.com) disclosing the
details of the Qualifying Transaction.
The Qualifying Transaction is scheduled to close on or about October 11, 2017 and
remains subject to final TSXV approval.
For further information: Mr. Richard Groome,
President and Chief Executive Officer,
Bitumen Capital Inc.
(514) 402 4405
About Bitumen
Bitumen is a capital pool company listed on the NEX board of the TSXV. The Company
is engaged in the identification and evaluation 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.
Completion of the T ransaction is subject to a number of conditions, including but not
limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, majority
of the minority shareholder a pproval. Where applicable, the Transaction cannot close
until the required shareholder approval is obtained. Ther e can be no assurance that the
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular
or filing statement to be prepared in connection with the Transaction, any information
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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 u pon the merits of the proposed T ransaction and has
neither approved nor disapproved the contents of this press release.
Cautionary Statements
Certain statements contained in this press release constitute forward-looking information.
These statements relate to future events or future performance. The use of any of the words
"could", "intend", "expect", "believe", "will", "projected", "estimated" and similar
expressions and statements relating to matters that are not historical facts are intended to
identify forward -looking information and are based on Bitumen's current belief or
assumptions as to the outcome and timing of such future events. Actual future results may
differ materially. In particular, this release contains forward-looking information relating to
the Transaction and obtaining the requisite approval of the TSXV. Various assumptions or
factors are typically applied in drawing conclusions or making the forecasts or projections
set out in forward -looking information. Those assumptions and factors are based on
information currently available to Bitumen. The material factors and assumptions include
the parties to the Transaction being able to obtain the necessary director, shareholder and
regulatory approvals; TSXV policies not changing; and completion of satisfactory due
diligence. Risk factors that could cause actual results or outcomes to differ materially from
the results expressed or implied by forward -looking information include, among other
things: conditions imposed by the TSXV, the failure to obtain the required directors' and
shareholders' approval to the Transaction; changes in tax laws, general economic and
business conditions; and changes in the regulatory regulation. Bitumen cautions the reader
that the above list of risk factors is not exhaustive. The forward -looking information
contained in this release is made as of the date hereof and Bitumen is not obligated to
update or revise any forward-looking information, whether as a result of new information,
future events or otherwise, except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements expressly qualify any
forward-looking information contained herein.