TORONTO, ONTARIO–(Marketwired – Jan. 15, 2015) – Arbitrage Exploration Inc. (NEX:BV.H) (the “Company”) provides an update to its press releases of September 8, 2011 and September 4, 2013.
The Acquisition formed part of the Company’s proposed Change of Business (“COB“) transaction under the policies of the TSX Venture Exchange (“TSXV“) from a “waste treatment and disposal company” to a “junior mining issuer”. The proposed COB was approved at the Company’s annual and special meeting of shareholders held on June 14, 2013, and the proposed COB received conditional approval from the TSXV on May 1, 2013.
Pursuant to the Acquisition, the Company owns 100% of the Hurdman Property and now operates as a junior mining company. However, the Company was unable to meet one of the conditions of the COB, which was to raise funds pursuant to a proposed concurrent private placement financing, and therefore the formal COB under the policies of the TSXV was not completed.
The Company has applied to list its common shares on the Canadian Securities Exchange (“CSE“), and subject to obtaining final approval from the CSE, the Company will apply for a de-listing of its common shares from the facilities of the NEX board of the TSXV, which common shares are currently halted for trading.
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Arbitrage Exploration Inc.
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.