MONTREAL, Aug. 23, 2018 /CNW/ - AM Resources Corp. (TSXV: AMR) announced on August 21, 2018 that it had issued a conditional purchase order (the "PO") to acquire a UCS Machine.
Following the issuance of the press release, the Corporation received instructions from the TSX Venture Exchange ("TSXV") to halt trading in the common shares subject to the Corporation providing certain documents and clarifications. The Corporation has provided the exchange with the required information relating to the PO.
AM confirms that the purchase of the UCS Machine would constitute an arm's length transaction, that the UCS Machine will be financed and manufactured by the vendor, and that investments to increase the current coal production capacity of the Corporation's early stage properties would be required in order to fully exploit the UCS Machine.
The Corporation also wants to inform its shareholders that it is working on completing its initial gold trade transaction and that it undertook not to allocate more than 20% of its resources to these activities.
Trading in the Corporation's common shares is expected to resume trading on the TSXV at the opening on August 23, 2018.
ABOUT AM RESOURCES CORP.
AM Resources Corp. is a mining exploration Corporation with interests in coal and natural bitumen projects in Colombia. AM is betting on Colombia's excellent mineral potential and favourable climate to pursue its new Colombian venture. The Corporation is also engaged in gold brokerage activities in Colombia through its subsidiary, AM Resources Trading Corp.
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.
SOURCE AM Resources Corp.
For further information: Dominic Voyer, President and Chief Executive Officer, 1-514-360-0576, 1-844-988-2632