International Millennium Mining Corp. Provides Update ON Reverse Takeover Transaction
FOR RELEASE: January 14, 2019 Telephone: (604) 527-8135
CONTACT: John A. Versfelt, President & CEO E-mail: [email protected]
INTERNATIONAL MILLENNIUM MINING CORP. PROVIDES
UPDATE ON REVERSE TAKEOVER TRANSACTION
Not for distribution to United States newswire services or for release, publication,
distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
VANCOUVER, British Columbia, Jan. 14, 2019 -- International Millennium Mining Corp. (TSX -V: IMI) (the
“Company” or “IMMC”) provides an update with respect to its August 31, 2018, announcement of the RTO
Transaction with Phoenix Capital Enterprises Ltd . (“Phoenix”), pursuant to which IMMC will effect a business
combination and reverse takeover transaction that will result in, among other things, IMMC acquiring all of the issued
and outstanding common shares of Tengri Coal and Energy Pte. Limited (“Tengri Coal and Energy”), a corporation
incorporated under the laws of Singapore, in exchange for newly issued common shares of IMMC (the “ RTO
Transaction”).
The parties continue to work to satisfy the closing conditions for the RTO Transaction. Personal Information Forms
(“PIFs”) for directors and officers of IMMC, Tengri Coal and Energy, and Tengri Coal and Energy’s subsidiaries,
have been filed with the TSX Venture Exchange (the “Exchange”) and are undergoing due diligence by the regulatory
agencies. IMMC is awaiting the Canadian audited financials for the Singapore and Mongolia companies, the final
National Instrument (“NI”) 43-101 Technical Report on the Tsaidam Nuur Mining Licenses, the updated power plant
feasibility study and the final Silver Peak Nevada Property NI 43-101 technical report. IMMC is also in discussions
with a potential Sponsor to provide a Sponsor report and is preparing the transaction documentation , including a
filing statement and a Special Shareholder’s meeting information circular for submission to the Exchange. Once all
the documentation is complete, the Company will submit an application to the Exchange for preliminary approval of
the transaction.
Trading of the Company’s common shares on the Exchange will remain halted until the RTO Transaction is accepted
by, or satisfactory documentation has been filed with, the Exchange, pursuant to the policies of the Exchange.
About Phoenix
Phoenix is a corporation existing under the laws of the British Virgin Islands and is the registered and beneficial
owner of all of the issued and outstanding common shares in the capital of Tengri Coal and Energy, a corporation
incorporated under the laws of Singapore having its head office at Suite 1706, Romana Office, Mahatma Gandhi
Street 33, Khan Uul District, Ulaanbaatar, Mongolia. Tengri Coal and Energy owns all of the issued and outstanding
common shares of Tengri Petrochemicals. Tengri Petrochemicals is the registered and beneficial holder of the
Tsaidam Nuur Mining Licences in Mongolia and owns all of the issued and outstand ing shares of Tsaidam Energy,
a corporation incorporated under the laws of Mongolia. Tsaidam Energy is the registered and beneficial holder of a
permit for the construction of t he Tsaidamnuur Power Plant. The Tsaidam Nuur Mining Licenses and the
Tsaidamnuur Power Plant together comprise what is known as the Tsaidam Energy Project located in Tuv Province,
Mongolia.
Further Information
All information contained in this news release, with respect to IMMC and Phoenix, was supplied by the parties
respectively, for inclusion herein. Each party and its directors and officers have relied on the other party for any
information concerning the other party.
International Millennium Mining Corp. Page 2
January 14, 2019
International Millennium Mining Corp. (TSX-V: IMI) common shares trade on the TSX Venture Exchange under
the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.
ON BEHALF OF THE BOARD
“John A. Versfelt”
John A. Versfelt
President and CEO
Further information about the Company can be found on SEDAR ( www.sedar.com) or by contacting Mr. John
Versfelt, President & CEO of the Company at 604-527-8135.
* * * * * * *
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance
and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the
required shareholder appro val is obtained. There 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 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 IMMC should be considered
highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this news release.
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. This news release may
contain forward -looking statements including but not limited to comments regarding the timing and content of
upcoming work programs, geological interp retations, potential mineral recovery processes and other business
transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.