/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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ROUYN-NORANDA, QC,
March 7, 2019 /CNW Telbec/ - Fieldex Exploration Inc.
(TSXV: FLX) (Frankfurt: F7E1) announces the termination of
the Share Exchange Agreement dated September
21, 2017, as amended, among Fieldex, Idénergie Inc.
("Idénergie") and Idénergie's securityholders, with respect
to the proposed reverse take-over of Fieldex by Idénergie (the
"Reverse Take-over") and the proposed "spin-out" (the
"Spin-out") of all of Fieldex's assets (except certain
assets) and all of its liabilities to QUAD Resources Inc., a
wholly-owned subsidiary of Fieldex (collectively, the
"Transactions"). As a result of the termination of the Share
Exchange Agreement, Fieldex will not proceed with the Transactions
and will be focusing on finding opportunities to increase
shareholder value. In addition, none of the resolutions relating to
the Reverse Take-over and Spin-out approved by Fieldex shareholders
at the meeting of Fieldex shareholders held on May 8, 2018,
including, the change of Fieldex's name to "Idenergy Corporation /
Corporation Idénergie", will be carried out. There is no penalty
receivable or payable in connection with the termination.
"The two companies mutually agreed that the public markets for
emerging clean technology companies specialized in the field of
power electronics are not conducive to financing opportunities",
said Martin Dallaire, President and
Chief Executive Officer of Fieldex.
Trading in Fieldex's shares was halted on June 6, 2017 in
accordance with the policies of TSX Venture Exchange
("TSXV") pending completion of the Transactions. Given the
termination of the Share Exchange Agreement, Fieldex will file an
application with the TSXV to request that trading of its common
shares be resumed on the TSXV. Fieldex will confirm in press
release the date on which trading of its common shares will resume
on the TSXV.
Fieldex also announces today that M. Sébastien Bellefleur has
resigned as a director. Following the resignation of
Mr. Bellefleur, the Board of Directors of Fieldex is comprised
of the following directors, Martin
Dallaire, Donald Lacasse,
Jean-Pierre Landry and Jean-François
Madore.
About Fieldex
Fieldex is a mineral resource company
actively exploring in Québec. As of the date hereof, Fieldex
has 15,668,023 common shares issued and outstanding.
Neither 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.
www.fieldexexploration.com
SOURCE FIELDEX EXPLORATION INC.