TORONTO, July 16, 2021 (Globalrelease Wire) — Crystal Peak Minerals Inc. (Crystal Peak or the Company) (TSXV NEX: CPM.H) announced today that Crystal Peak and Western Exploration LLC (Western) have entered into an amending agreement regarding the previously disclosed arrangement agreement dated February 19, 2021 (the Arrangement Agreement) based upon which Western will “go public”, among other things, by way of a “reverse take-over” of Crystal Peak.
The parties have agreed to extend the Completion Deadline, as defined in the Arrangement Agreement, to October 29, 2021, and to revise the consolidation ratio of the issued and outstanding common shares of Crystal Peak from 490.97 to 1 to 363.30 to 1.
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This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to Crystal Peak’s future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “is expected”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “believes”, or variations of such words and phrases; or terms that state that certain actions, events, or results “may”, “could”, “would”, “might”, or “will be taken”, “could occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Crystal Peak does not undertake to update any forward-looking information, except in accordance with applicable securities laws.