Ubique Minerals Withdraw from Discussions to Acquire up to 80% of the Port Loko Bauxite Mine in Sierra Leone
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TORONTO, September 7, 2021 - Ubique Minerals Ltd. ("Ubique") (CSE:UBQ) announces that it has withdrawn from its previously announced non-binding Memorandum of Understanding to earn-in up-to 80% of Alumina Ventures Ltd "AVL" shares in Sierra Leone.
As per the press release dated August 5th, 2021, the company announced it had signed a non-binding MoU with Alumina Ventures Ltd and that it had entered into final discussion and legal agreement phase. It has now emerged that AVL is not able to meet the due diligence and contractual requirements set out by the company. As a result of Ubique has terminated the non-binding MoU and is now in discussion with AVL management about repayment terms of the loan facilities that the company advanced to AVL.
About Ubique Minerals Limited.
Ubique Minerals Ltd. is a zinc exploration company listed on the CSE (CSE:UBQ) focused on exploration of its Daniel's Harbour zinc property in Newfoundland. It was funded for its first two years by private equity including that from Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL). Ubique became a publicly listed company in September 2018. Ubique has an experienced management group with a record of multiple discoveries of deposits worldwide and owns an extensive and exclusive database of historic exploration results from the Daniel's Harbour area. For more information on Ubique please contact Vilhjalmur Thor Vilhjalmsson CEO +354 8697296 or by email vilhjalmur@jvcapital.co.uk or see www.ubiqueminerals.com.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Ubique Minerals Ltd.., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Ubique can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Ubique disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Ubique Minerals Ltd.
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