VANCOUVER, Dec. 14, 2018 /CNW/ - Admiral Bay Resources Inc. (the "Company") today announced that Johannes (Theo) van der Linde, Eugene Beukman, Joel Dumaresq and Steven Tedesco have resigned from the board of directors of the Company and have been replaced by Rajendra Kushwah, Dr. Rahul Kushwah and Michelle Butler.
The Company has also entered into a non-binding letter of intent with Cultivar Holdings Ltd. with respect to a reverse take-over transaction which would ultimately result in the Company's common shares being listed on the Canadian Securities Exchange. Further updates will be provided as the transaction advances towards definitive documentation.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Rahul Kushwah, Chief Executive Officer
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE Admiral Bay Resources Inc.
For further information: Dr. Rahul Kushwah, Tel: 647- 889-6916