Watusi Receives Conditional Approval from TSX Venture Exchange and Files Filing Statement for Qualifying Transaction
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2018) - Watusi Capital Corp. (TSXV: WAS.H) ("Watusi") is pleased to announce that the TSX Venture Exchange (the "TSXV") has conditionally approved its previously announced Qualifying Transaction (the "Transaction") subject to a number of pre-closing and post-closing conditions. Watusi's filing statement for the Transaction is available on SEDAR at www.sedar.com.
Pursuant to the Transaction, Prospex SpA, BLC SpA and CALISTO SpA (collectively, the "Optionors") will grant Watusi an option to acquire a 100% interest (subject to an existing 0.98% gross sales royalty in favour of a third party and a new 1.02% gross sales royalty in favour of the Optionors, for a total 2.0% royalty) in certain mineral properties with prospective copper and gold targets located in northern Chile (the "Properties") and sell related databases to Watusi. A technical report on the Arcas Project forming part of the Properties entitled "NI 43-101 Technical Report, Arcas Copper-Gold Project, Antofagasta Region, Chile", prepared by Darby Ian Fletcher, PhD, CPG and dated April 9, 2018, has been filed with the TSXV and is available on SEDAR.
The closing date of the Transaction is expected to be on or about April 26, 2018. Trading of Watusi's common shares was halted on December 8, 2017 at the request of Watusi in connection with the Transaction and will remain halted pending the completion of the Transaction and the TSXV's receipt of satisfactory documentation.
This press release may contain forward-looking information, such as statements regarding the completion of the Transaction and the resumption of trading of Watusi's common shares. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of Watusi as a going concern and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to completion of the Transaction. Actual results may differ materially from results suggested in any forward-looking information. Watusi assumes no obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in Watusi's filings with Canadian securities regulators, which are available at www.sedar.com.
For further information please contact:
Watusi Capital Corp.
President, Chief Executive Officer,
Chief Financial Officer, Corporate Secretary
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.
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