RT Minerals Corp. Receives Conditional TSX Venture Exchange Approval to Proceed with Acquisition of Catharine Gold Inc.; Resumption of Trading Expected April 5, 2021
Vancouver, March 31, 2021 - RT Minerals Corp. (TSXV: RTM) (OTC: RTMFF) (the "Company" or "RT Minerals" or "RTM") is pleased to announce that it has received conditional approval (the "Conditional Approval") from the TSX Venture Exchange (the "TSXV") for the acquisition of all of the outstanding common shares of Catharine Gold Inc. ("Catharine Gold") for consideration of 21,000,000 common shares of the Company to be subject to a multi-year escrow release under a Tier 2 Escrow Surplus Agreement (the "Transaction").
Having received Conditional Approval, RT Minerals anticipates its common shares will resume trading on April 5, 2021.
Acquisition of Catharine Gold Inc.
The Transaction was initially announced on March 24, 2021 under the news release titled "RT Minerals Corp. ("RTM") to Acquire 100 Square Kilometres of Mineral Claims Contiguous to Link-Catharine RLDZ Property, Ontario, by Acquisition of Catharine Gold Inc. Resulting in Change of Control of RTM".
Catharine Gold is a privately-held exploration company based in Vancouver, British Columbia which owns the mineral rights to approximately 100 square kilometres (24,536 acres) of mineral properties which commence contiguous to the border of RTM's Link-Catharine property and which extend throughout six townships in northern Ontario, Canada.
Figure One: Map of the License Holdings of RT Minerals Corp. and Catharine Gold Inc., respectively
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The mineral properties controlled by Catharine Gold are situated approximately 22 km southeast of Kirkland Lake, Ontario and extend intermittently and generally south, east and northeast immediately from RTM's current Link-Catharine property boundary for up to about 20 km, as well as ranging between 7 kms to 21 km south of the Cadillac Larder Lake Break ("CLLB"). The Catharine Gold property holdings are host to a large area covering a southwestern section of the prospective Abitibi greenstone belt south and sub-parallel to the CLLB.
The Transaction is subject to the satisfaction of the conditions set out in the TSXV policies including the acceptance by the TSXV of audited financial statements of Catharine Gold, a NI 43-101 report on the Catharine Gold Property, and the approval of the majority of disinterested shareholders of the Company.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSXV under the symbol "RTM" and has 43,122,988 shares outstanding. The Company holds 100% interest in the Norwalk gold property located near Wawa, Ontario. The Company also holds an option to acquire 100% interest in the Link-Catharine RLDZ gold property comprised of 15 unpatented single cell mining claims with a total area of 220 hectares in one claim block located approximately 25 km SSE of the Town of Kirkland Lake, Ontario.
For more information on the Company and its properties, please visit the Company's website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Donald (Dan) M. Clark
Chairman, President and Chief Executive Officer
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance, including the resumption of trading, and the timing of completing the proposed acquisition, and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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