/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, June 1, 2018 /CNW/ - Pacific Topaz Resources Ltd.
("Pacific" or the "Company") (TSXV: PPZ.H), is
pleased to announce that it has received conditional approval of
the TSX Venture Exchange for its business combination (the
"Transaction") with Western Atlas Resources Inc.
("Western Atlas") details of which are set forth in the
Company's news releases of March 16,
2018 and March 27, 2018 and in
the Company's Filing Statement dated May 29,
2018. Copies of the news releases and Filing Statement are
available under the Company's profile on SEDAR
(www.sedar.com). Closing of the Transaction is expected
to occur on or before June 15,
2018.
Western Atlas Exploration Program
Western Atlas undertook a winter program on the Meadowbank
project area in February and May, 2018 with the organization of all
the logistics necessary to execute on the 2018 Summer Exploration
Program which will start in June and continue until late
September.
Highlights of the 2018 Meadowbank Exploration Program
- Over 1,500 line-kms of helicopter-borne geophysical survey
(VTEM)
- Ground induced polarization (IP) survey. The IP survey would be
carried out using a 25m or
50m a-spacing
- Multi-crew ground surveys of prospecting, geological and
structural mapping, rock and till sampling
- Expected shallow Rotary Air Blast ("RAB") drilling on specific
target areas within Block B.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation that are not
historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements with respect to the terms and conditions
of the proposed Transaction; the Company's objectives, goals or
future plans; the receipt of the requisite approvals with respect
to the Transaction and the business and operations of the Company
following the completion of the Transaction. Forward-looking
statements are necessarily based on a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties and other factors which may cause
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business, economic
and social uncertainties; litigation, legislative, environmental
and other judicial, regulatory, political and competitive
developments; delay or failure to receive board, shareholder or
regulatory approvals; those additional risks set out in Pacific's
public documents filed on SEDAR at www.sedar.com; and other matters
discussed in this news release. Although Pacific believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply 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. Except where required by
law, Pacific and WA disclaim any intention or obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Reader Advisory
Completion of the Transaction is subject to a number of
conditions, including but not limited to Exchange acceptance and
shareholder approval. The Transaction cannot close until the
required shareholder approval is obtained. There can be no
assurance that the Transaction will be completed as proposed or at
all.
Investors are cautioned that, except as disclosed in the Filing
Statement prepared in connection with the Transaction, any
information released or received with respect to the Transaction
may not be accurate or complete and should not be relied upon.
Trading in the securities of Pacific should be considered highly
speculative.
The Exchange has in no way passed upon the merits of the
proposed Transaction and has neither approved nor disapproved the
contents of this press release.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility of the adequacy or accuracy of this release.
SOURCE Pacific Topaz Resources Ltd.