Integral Metals Corp. Announces the Completion of the Sale of the Zigzag Project and the Settlement of the Related Litigation
CALGARY, Alberta, Nov. 08, 2024 (GLOBE NEWSWIRE) — Integral Metals Corp. (CSE: INTG) (the “Company” or “Integral”) announces that, further to its news release on November 7, 2024, it has completed the sale of the Zigzag Project, located in the Thunder Bay Mining Division in Ontario, Canada (the “Zigzag Project”) to Volta Metals Ltd. (“Volta”) for C$350,000. Concurrently with the closing of the sale of the Zigzag Project, Volta and Integral also executed a mutual release, releasing all claims between Volta and the Company with respect to the litigation regarding Integral’s acquisition of the Zigzag Project from Reflex Advanced Materials Corp. (the “Volta Claim”) and settling the Volta Claim as between the Company and Volta.
“This divestiture surfaces value for a non-core asset and gives us the ability to allocate additional resources to the Kap Property” said Paul Sparkes, Chief Executive Officer of the Company. “With the sale of the Zigzag Project and the settlement of the Volta Claim, the Company is now well positioned with a strengthened balance sheet to focus its resources and efforts on the exploration of its other mineral properties.”
On Behalf of the Board Directors
Paul Sparkes
Chief Executive Officer
825-414-3163
ABOUT INTEGRAL METALS CORP.
Integral is an exploration stage company, engaged in the business of mineral exploration for critical minerals, including gallium and germanium, with the goal of contributing to the development of a domestic supply chain for these minerals. Integral holds properties in mining-friendly jurisdictions in Canada, including the Northwest Territories and Manitoba, where it has received regulatory support for its exploration efforts. The Company is currently focused on the exploration of its material property, the Kap Property, which is comprised of six contiguous claims located in the Northwest Territories.
The CSE and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Company’s future plans, including the Company’s plans to focus its efforts and resources on the Kap Property and its other mineral properties.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the future plans and strategies of the Company, including that the Company will continue to focus its efforts and resources on the Kap Property.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that the Company’s business prospects and priorities may change, whether as a result of unexpected events, general market and economic conditions or as a result of the Company’s future exploration efforts, and that any such change may result in a re-deployment of the Company’s resources and efforts in a manner divergent from the Company’s current business plan or strategy. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
