Orcus Resources Ltd. and Western Metallica Corp. Announce Extension of Escrow Release Deadline FOR Subscription Receipts
ORCUS RESOURCES LTD. AND WESTERN METALLICA CORP. ANNOUNCE
EXTENSION OF ESCROW RELEASE DEADLINE FOR SUBSCRIPTION RECEIPTS
Vancouver, British Columbia, February 22, 2022 – Orcus Resources Ltd. (“Orcus”)
(TSXV: ORCS.P) and Western Metallica Corp. (“ Western Metallica ”) are pleased to
announce that, in accordance with the terms of the Subscription Receipt Agreement (as
defined below), the deadline (the “ Release Deadline ”) for satisfaction of all escrow
release conditions set out in the Subscription Receipt Agreement has been extended to
5:00 p.m. (Toronto time) on March 23, 2022. On November 23, 2021, Western Metallica
completed an offering of subscription receipts (the “ Subscription Receipts ”) and, in
connection therewith, entered into a subscription receipt agreement (the “Subscription
Receipt Agreement ”) with Endeavor Trust Corporation and Clarus Securities Inc.
(“Clarus”) governing the Subscription Receipts. For further details in respect of the
Subscription Receipts and the Subscription Receipt Agreement, please refer to Orcus
and Western Metallica’s joint press release dated November 23, 2021.
For further information:
Deepak Varshney
Chief Executive Officer, Corporate Secretary and Director of Orcus
778-899-1780
Greg Duras
Chief Financial Officer and Director of Western Metallica
416-576-3136
Cautionary Note Regarding Forward-Looking Information
Certain information in this press release may contain forward-looking statements. This
information is based on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Often, but not always, forward-looking
statements or information can be identified by the use of words such as “estimate”,
“project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and
the negative of these words or such variations thereon or comparable terminology are
intended to identify forward-looking statements and information. Actual results might differ
materially from results suggested in any forward-looking statements. Additional
information identifying risks and uncertainties is contained in filings by Orcus with the
Canadian securities regulators, which filings are available at www.sedar.com.
Although management of Western Metallica and Orcus believe that the assumptions
made and the expectations represented by such statements or information are
reasonable, there can be no assurance that forward-looking statements or information
herein will prove to be accurate. Forward-looking statements and information by their
nature are based on assumptions and invo lve known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements, or
industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or information.
Orcus and Western Metallica do not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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This press release does not constitute an offer to sell or a solicitation of an offer
to buy any of the securities in the United States. The securities have not been and
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(the “U.S. Securities Act”) or any state securities laws and may not be offered or
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