BE Resources Announces Termination of Proposed Business Combination With Bio Graphene Solutions
TORONTO, Jan. 06, 2025 (GLOBE NEWSWIRE) — BE Resources Inc. (the “Company” or “BE Resources”) (TSXV: BER.H) announces its letter of intent (the “LOI”) for a proposed transaction with Bio Graphene Solutions Inc., as announced on August 17, 2020, has been terminated. The LOI was previously extended several times, most recently until December 31, 2024, however the Company determined to not extend the LOI past December 31, 2024.
The Company will continue to seek to reposition its business and notwithstanding the termination of the LOI, may re-engage with Bio Graphene or seek alternative transactions to optimize value for shareholders.
Trading in the common shares of the Company was halted as of August 18, 2020, in connection with the execution of the LOI. The Company will seek to resume trading as soon as possible.
Carmelo Marrelli, Chief Executive Officer
82 Richmond St East Toronto, Ontario M5C 1P1
T (418) 531-1060 C (416) 278-5519
carm@marrellisupport.ca
CAUTIONARY STATEMENT:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of BE Resources. Forward-looking statements include estimates and statements that describe BE Resources’ future plans, objectives or goals, including words to the effect that BE Resources or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to BE Resources, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking information. Forward looking information in this news release includes, but is not limited to, BE Resources’ objectives, goals or future plans, statements, the company’s portfolio, treasury, management team and enhanced capital markets profile, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, to obtain required governmental, regulatory, environmental or other approvals in respect of a future transaction and the Company’s operations, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates, and those risks set out in BE Resources’ public documents filed on SEDAR+. Although BE Resources believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. BE Resources disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
