Vancouver, British Columbia, February 17, 2016 – Aftermath Silver Ltd. (the “Company” or “Aftermath Silver”) announces that the TSX Venture Exchange has transferred the Company’s shares to NEX. In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on February 18th 2016, the Company’s listing was transferred to NEX, the Company’s Tier classification was changed from Tier 2 to NEX, and the Filing and Service Office was changed from Vancouver to NEX. The trading symbol for the Company has been changed from AAG to AAG.H. There is no change in the Company’s name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 and Tier 2 symbols within the TSX Venture market. Further to the Exchange Bulletins dated October 6th 2015, trading in the shares of the Company will remain suspended.
Further to the Company press release dated August 12th, 2015 concerning the sale of its Mexican subsidiary; following a due diligence period by the interested party, Reyna Minas SA de CV (“Reyna”), the Company and Reyna have signed a binding letter of intent. Under the terms of the agreement, the Company will transfer 100% of the share capital of its subsidiary for cash consideration of US$150,000. Signing of the definitive documentation and transfer of the shares is scheduled to take place on March 16, 2016 at which time a payment of US$60,000 will be made to the Company. An additional payment of US$90,000 will be made on December 16, 2016. The transaction, which remains subject to both TSX and shareholder approvals, removes the Company’s Mexican liabilities and provides sufficient funding to resolve its outstanding Canadian payables. The Company intends to restructure itself while on the NEX, which will include the evaluation of new opportunities and, in addition, to file the necessary financials that led to the imposition of the original cease trade order.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
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.
Certain disclosure in this release, including statements regarding the intended use of proceeds from the private placement, constitute forward-looking information or statements (collectively, “forward-looking statements”) for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company’s planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company’s exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.