Dissemination IN the U.s. Savoy Ventures Inc. Savoy Signs Definitive Agreement to Acquire Hybrid Minerals Inc.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S.
SAVOY VENTURES INC.
SAVOY SIGNS DEFINITIVE AGREEMENT TO ACQUIRE HYBRID MINERALS INC.
VANCOUVER, BC, October 31, 2017 – Savoy Ventures Inc. (NEX: SVO.H (“Savoy” or the
“Company”) is pleased to announce that further to its news release dated June 7, 2017 and September 25,
2017, it has entered into a share exchange agreement dated October 27, 2017 with Hybrid Minerals Inc.
(“Hybrid”) and its shareholders (the “ Hybrid Shareholde rs”) pursuant to which the Company will
acquire all of the outstanding common shares of Hybrid (the “ Hybrid Shares”) in exchange for common
shares of Savoy (the “Savoy Shares ”) on a 1:1 exchange ratio (the “ Acquisition”). Upon completion of
the Acquisition, it is intended that Savoy will be reactivated under the rules of the TSX Venture Exchange
(the “TSX-V”), graduating it from the NEX to the TSX-V. The Acquisition is an arm’s length transaction
and no finder’s fees are paid in connection with the Acquisition, other than applicable finder’s fees related
to the concurrent financing as disclosed in news release on June 7, 2017.
About Hybrid Minerals Inc.
Hybrid Minerals Inc. is a specialty minerals exploration company focused on the acquisition and
development of production grade cobalt deposits. Hybrid currently holds the rights to the CAS Cobalt
Project.
The CAS Project is an advanced cobalt, copper, and gold property located between eCobalt Solutions’
Blackbird cobalt/copper project and US Cobalt’s Iron Creek cobalt project in Lemhi County, Idaho, USA.
A technical report titled “Technical Report, CAS Cobalt -Gold Property, Lemhi County, Idaho” with an
effective date of August 2, 2017 prepared by James E. for Savoy in accordance with NI 43 -101 with
respect to the Property, will be available on WWW.SEDAR.com.
The Acquisition
Pursuant to the Acquisition, Savoy will acquire all of the shares of Hybrid for an aggregate purchase price
of $2,425,000.25 (the “Purchase Price”) which will be satisfied by Savoy issu ing pro rata to the Hybrid
Shareholders 9,700,001 Savoy Shares (the “ Savoy Payment Shares ”) at a deemed price of $0.25 per
Savoy Payment Share. The Savoy Payment Shares will be the sole consideration received by the Hybrid
Shareholders in exchange for the Hybrid Shares.
The Share Exchange Agreement includes customary conditions precedent to the closing of the
Acquisition, including customary due diligence, receipt of all necessary regulatory, corporate and third
party approvals, compliance with all applicable regulatory requirements, and all requisite board approvals
being obtained. In particular, it is a condition of closing that Savoy meet the minimum listing
requirements of the TSX-V for a Tier 2 mining issuer
Certain of the Savoy Payment Shares issuable pursuant to the Acquisition may be subject to escrow
requirements pursuant to TSX-V policy and hold periods as required by applicable securities laws.
For further information please contact:
Savoy Ventures Inc.
Glen Macdonald, Chief Executive Officer
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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
Completion of the proposed transaction is subject to a number of conditions, including receipt of appropriate
regulatory approvals. The transaction cannot close until all such conditions are satisfied. 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 disclosure document to be prepared in connection with the
transaction, any information released or received with respect to the Acquisition may not be accurate or complete
and should not be relied upon. Trading in securities of Savoy Ventures Inc. should be considered highly speculative.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities issued, or to
be issued, under the Acquisition have not been, and will not be, registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties
and other factors that may cause act ual events to differ materially from current expectations. Important factors –
including the availability of funds, the parties’ due diligence reviews, and general market conditions – that could
cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents
filed from time to time on SEDAR (see www.sedar.com) . Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of this press release. The company disclaims any
intention or obligation, except to the extent required by law, to update or revise any forward- looking statements,
whether as a result of new information, future events or otherwise.
We seek safe harbour.