“WMK.H”) announces that it has released its financial statements and Management Discussion
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WHITEMUD RESOURCES INC.
NEWS RELEASE
May 30, 2018
Calgary, May 30, 2018 – Whitemud Resources Inc. (“Whitemud” and the “Company” ) (NEX –
“WMK.H”) announces that it has released its financial statements and Management Discussion
and Analysis for the first quarter ended March 31, 2018.
In addition to its metakaolin business, the Company continues with the marketing and distribution
of liquefied petroleum gas (“LPGs”) through its Midstream Energy Partners division, the creation
of which was first announced in a new release dated September 22, 2015 . Whitemud’s net
income for the quarter ended March 31, 2018 was $23,780. During the first quarter ended March
31, 2018 t he marketing of LPGs contributed $542,168 of net income, offsetting losses from the
metakaolin division of $518,388. The Company intends to continue with its LPG marketing
initiatives in an attempt to generate income and stabilize the Company financially.
The LPG marketing business is dependent upon commodity price, access to and cost of
transportation, risks associated with product supply, risks of customer demand, weather related
demand conditions and the ability of customers to pay for LPGs delivered to them . Commodity
marketing contracts are subject to a bidding process with contracts usually entered into for a term
of one year. There is no assurance that further contracts may be obtained, extended or re -
negotiated on terms that are commercially acceptable to the Company.
The Company is pleased to announce that it has renegotiated a number of commodity contracts
which are to be effective April 1, 2018 for a one year term (the “New Agreements”). The New
Agreements were entered into with a single source arm’s length third party vendor and obligate
the Company to purchase up to 10,000 m 3 of LPGs per month at current market prices. The
Company intends to market the LPGs at a profit.
The Company will continue to seek additional business opportunities in th e LPG marketing
business segment.
About Whitemud Resources Inc.
Whitemud is a Canadian-based corporation holding mineral rights to exploit a large kaolin deposit
in southern Saskatchewan, together with a processing facility located on the property.
Whitemud’s product, Whitemud (MK) is a cement -grade metakaolin that enhances the
performance of cement for oil and gas wells and construction applications. The Company uses a
process that minimizes environmental impact.
Midstream Energy Partners, a division of Whitemud Resources Inc. formed in 2015, engages in
the business of commodity marketing and logistics.
For further information, please contact:
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Whitemud Resources Inc.
General Inquiries
Suite 3900, 205 5th Avenue SW
Calgary, Alberta T2P2V7
Telephone: 403-266-1985
Reader Advisory
This news release contains forward -looking statements, within the meaning of applicable
securities legislation, concerning Whitemud’s business and affairs. In certain cases, forward -
looking statements can be identified by the use of words such as ‘‘attempts’’, ‘‘intends’’ ,
“continues” or variations of such words and phrases or state that certain actions, events or results
‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘w ill be taken’’, ‘‘occur’’ or ‘‘be achieved’’. These
statements involve known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated in such forward -looking
statements. Although Whitemud believes these statements to be reasonable, no assurance can be
given that these expectations will prove to be correct and such forward -looking statements
included in this news release should not be unduly relied upon. Such statements include
statements with respect to the Company’s ability to market the LPGs purchase d under the New
Contracts at a profit, to continue seek additional business opportunities in the LPG business
marketing and the success of any efforts in respect thereof. Actual results could differ materially
from those anticipated in these forward -looking statements as a result of prevailing economic
conditions, and other factors, many of which are beyond the control of Whitemud. The forward-
looking statements contained in this news release represent Whitemud’s expectations as of the
date hereof, and are subject to change after such date. Whitemud disclaims any intention or
obligation to update or revise any forward -looking statements whether as a result of new
information, future events or otherwise, except as may be required by applicable securities
regulations.
Neither the TSXV 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.
Not for distribution to United States Newswire Services or for dissemination in the United
States.