Logan Resources and Voleo Announce TSX Venture Conditional Approval of Transaction
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NEWS RELEASE
Logan Resources and Voleo Announce TSX Venture Conditional Approval of Transaction
May 16, 2019 (TSXV:LGR)
VANCOUVER, BRITISH COLUMBIA, Logan Resources Ltd. (TSXV:LGR) (the “Company” or
“Logan”) is pleased to announce that it has received conditional approval from the TSX Venture
Exchange (the “Exchange”) for the business combination of Voleo, Inc. (“Voleo”) and Logan (the
“Transaction”). Logan and Voleo intend to close the Transaction during the week of May 27,
2019. A further press release will be issued announcing the final closing date and the scheduled
date for resumption of trading of the Company’s common shares.
The Exchange has confirmed that based on the Company’s current situation, as per Section 4.1
of Policy 5.2 of the Exchange Corporate Finance Manual, the Com pany is without active
operations and will not be required to get shareholder approval for the Transaction. Specifically,
Logan has disposed of all of its mineral properties, except for the Redford Property, has solely
focused on completing the Transaction since January 2018 and will not return to active operations
based on its remaining mineral property asset.
In addition, the Transaction is arm’s length; the Company is not and will not be subject to a cease
trade order and will not otherwise be suspended from trading on completion of the Transaction;
and shareholder approval of any aspect of the Transaction is no t otherwise required under
applicable corporate laws and is not required under applicable securities laws.
As of April 30, 2019, Logan and Voleo had a consolidated workin g capital of $3.65 million after
giving effect to the Offering and shares to be issued to settle certain amounts payable upon
closing the Transaction and excluding Transaction costs.
Cautionary Statements
The Transaction remains subject to the final acceptance of the Exchange and other conditions
customary for a transactions of this nature. There can be no as surance that the Transaction will
be completed as proposed or at all. Additional information as required can be found in the Logan
Management Information Circular dated May 30, 2018 (the “ Information Circular ”), the Short
Form Prospectus dated April 17, 2019 (the “ Prospectus”) and documents incorporated by
reference therein and available on SEDAR at www.sedar.com or wi ll be provided by way of a
subsequent news release or material change report. Trading in t he common shares of the
Company on the Exchange will remain halted until such time as the requirements of the Exchange
are met.
Investors are cautioned that, except as disclosed in the Information Circular and the Prospectus,
and press releases of Voleo or Logan, any information released or received with respect to the
Transaction may not be accurate or complete and should not be r elied upon. Trading in the
securities of Logan should be considered highly speculative.
The Exchange has in no way passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this press release.
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About Voleo
Voleo is a Canada-based mobile fintech company that is transfor ming the retail investing space
through its powerful, collaborative investing platform. Voleo's equity trading platform operates on
native iOS and Android devices, as well as a companion web appl ication. Voleo has increased
retail investor participation in the stock market by breaking down barriers to entry, facilitating trust
and improving financial literacy. The product is being white-labeled by major financial institutions
around the world as an innovative product to engage and retain a new category of investors.
For more information on Voleo, please visit our Investor Relati ons website at
https://ir.myvoleo.com.
About Logan
For more information on Logan, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
“Mark Lotz”
Interim Chief Executive Officer
Logan Resources Ltd. is part of the King & Bay group of companies. King
& Bay is a merchant bank that specializes in identifying, fundi ng,
developing and supporting growth opportunities in the resource, aviation,
and technology sectors.
For further information regarding this news release, please contact:
T: 604-681-8030 ext 242
Cautionary Note Regarding Forward-Looking Information
This news release contains "forw ard-looking information" concer ning anticipated developments and events that may occur in the
future. Forward looking information contained in this news rele ase includes, but is not limited to, statements with respect to w ith
respect to: (i) Voleo’s future business objectives and plans and the timing thereof; (ii) removal of conditions relating to the completion
of the Transaction; and (iii) receipt of Exchange and other approvals for the Transaction.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or
"be achieved" suggesting future o utcomes, or other expectations , beliefs, plans, objectives, assu mptions, intentions or statem ents
about future events or performance. Forward-looking information contained in this news release is based on certain factors and
assumptions regarding, among other things, the accuracy, reliability and applicability of the Voleo’s business model; the timely receipt
of governmental approvals, including the receipt of approval fr om regulators in jurisdictions where Voleo may operate; the tim ely
commencement of operations by Voleo and the success of such ope rations; the ability of Voleo to i mplement its business plan as
intended; the legislative and regulatory environments of the ju risdictions where the Voleo will carry on business or have oper ations;
and the impact of competition and the competitive response to t he Voleo business strategy. While the Company considers these
assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, u ncertainties and other factors which may cause the actual resul ts,
performance or achievements of the Company to be materially dif ferent from any future results, performance or achievements
expressed or implied by the forwa rd-looking information. Such f actors include risks related to acts of God, the impact of gene ral
economic conditions, changing dome stic and international indust ry conditions, currency fluctuati ons, interest rates, the abili ty of
management to implement Voleo’s operational strategy, the abili ty to attract qualified management and staff, labour disputes,
regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity
risks, including the risk that the financing necessary to fund operations may not be obtained and the additional risks identif ied in the
"Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially
from those described in forward-looking information, there may be other factors that cause acti ons, events or results not to b e as
anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-
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looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does
not undertake any obligation to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy
of this release.