NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, CANADA (January 14, 2019) – Golden Share Resources Inc. (“Golden Share” or the “Company”) (TSX-V: GSH) is pleased to announce that, further to its news releases of December 24, 2018 and January 2, 2019, it has completed the previously announced spin-out of its energy storage business.
The spin-out was completed by way of a statutory plan of arrangement under the Canada Business Corporations Act (the "Arrangement") under which Golden Share transferred its energy storage business to Harmony Energy Technologies Corporation (“Harmony”) in exchange for 3,862,079 common shares (“Harmony Shares”) of Harmony, which have been distributed to Golden Share shareholders on the basis of one Harmony Share for each 10 Golden Share common shares held as of the close of business on January 3, 2019. In connection with the Arrangement, each Golden Share common share has also been exchanged for a new Golden Share common share.
In addition, Harmony has completed a previously-announced concurrent financing, whereby Harmony has issued 100,000 units (“Units”) for proceeds of US$100,000. Each Unit consists of one Harmony Share and one common share purchase warrant (“Warrant”) of Harmony. Each Warrant entitles the holder thereof to acquire one Harmony Share at a price of US$1.00 for a period of 36 months from the issuance date.
The voluntary trading halt of Golden Share’s common shares is expected to be lifted at market open on January 16, 2019.
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements in this press release may be forward-looking. Although the Company believes the expectations reflected in such statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. A description of risks affecting the Company's business and activities appears on pages 16 to 18 of its 2017 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. Additional risks relating to the Arrangement and to Harmony Energy Technologies Corporation’s business are set forth in the Circular. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. The Company disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
This press release does not constitute an offer of securities by Golden Share, Spinco or any other party for sale in the United States, nor may any securities referred to herein be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended (the “Securities Act”) and the rules and regulations thereunder. The securities referred to herein have not been registered pursuant to the Securities Act and there is no intention to register any of the securities in the United States or to conduct a public offering of securities in the United States.
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.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: info@goldenshare.ca