AMI RockChain Expands Services with Acquisition of TerraShift Engineering; Also Announces Timing of Annual General Meeting - Seite 2
TRANSACTION HIGHLIGHTS
The TerraShift acquisition is predominately a share-based transaction consisting of three contingent, performance-based installments over two years. AMI
expects the transaction to be accretive on a cash flow per share basis following the acquisition. Additionally, TerraShift brings positive net working capital which will enhance AMI’s balance
sheet.
ANNUAL GENERAL MEETING
The Corporation has re-scheduled the Annual General Meeting (“AGM”) for Tuesday, September 22, 2020. With respect to the COVID-19 pandemic and public
health recommendations, we will be conducting the meeting through a hybrid in-person meeting along with a webcast. An amended notice of meeting, setting out the time and place of the rescheduled
AGM, together with related meeting materials, will be sent to shareholders and filed under the Corporation's profile on SEDAR at www.sedar.com.
ABOUT ATHABASCA MINERALS INC. (AMI)
Athabasca Minerals Inc. (www.athabascaminerals.com) is an integrated group of companies focused on the aggregates and industrial minerals sectors, including resource development, aggregates midstream
supply-logistics solutions. Business activities include aggregate production, sales and royalties from corporate-owned pits, management services of third-party pits, acquisitions of sand and gravel
operations, and new venture development.
Athabasca Minerals Inc. is the parent company of AMI RockChain Inc. (www.amirockchain.com) – a midstream technology-based business using its proprietary RockChain digital platform, associated Solution-Finder algorithm and QA/QC services to provide cost-effective integrated supply /delivery solutions of industrial minerals to industry, and the construction sector.
It is also the parent company of AMI Silica Inc.(www.amisilica.com) – a subsidiary positioning to become a leading supplier of premium domestic in-basin sand with regional deposits in Alberta and NE British Columbia. It is the joint venture owner of the Montney In-Basin and Duvernay Basin Frac Sand Projects. Additionally, the Corporation has industrial mineral leases, such as those supporting AMI’s Richardson Quarry Project, that are strategically positioned for future development in industrial regions with historically and consistently high demand for aggregates.
ABOUT TERRASHIFT ENGINEERING LTD.
TerraShift Engineering Ltd. is an Edmonton based consulting company focused on the sustainable development and management of natural resources. Their professionals and associates have over 30 years
of combined experience working in the regulatory consulting, engineering, and environmental services sectors. Their core philosophy is to create and maintain their client's social license to
operate while ensuring efficient and cost effective solutions.
For further information, please contact:
Tanya Finney, Director, Investor and Stakeholder Relations
Tel: 587-391-0548 / Email: tanya.finney@athabascaminerals.com
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.