VANCOUVER, Oct. 8, 2019 /CNW/ - Clean Commodities Corp. (TSX VENTURE: CLE) ("Clean Commodities" or the "Corporation") is pleased to announce that it intends to undertake a corporate name change to "Dixie Gold Inc." (the "Name Change").
The Name Change was approved by the Corporation's Board of Directors on September 30, 2019, subsequent to which the Corporation filed a Form 5H (Name Change Without Consolidation or Split Filing Form) with the TSX Venture Exchange (the "Form 5H Filing") on October 1, 2019.
In conjunction with the Name Change, the Corporation has applied to the TSX Venture Exchange for a new trading symbol. Separately, the Corporation has also applied for a new ISIN/CUSIP number. Further information with respect to these items and any other items associated with the Corporation's name change submission to the TSX Venture Exchange will be provided to shareholders in due course.
The Corporation is currently planning gold exploration activities at its Isko Gold Project located in Quebec, Canada. Acquired in 2017, the Corporation subsequently performed a soil sampling program at the project as detailed in the Corporation's financial reports available on SEDAR.
As a mining issuer, the Corporation regularly reviews potential mineral property acquisitions and dispositions as part of its ordinary course of operations.
The Corporation believes that the strong trading price of gold (as expressed in Canadian dollars) warrants increased capital allocation by the Corporation to this commodity.
The Corporation holds a diversified mineral exploration portfolio situated across Canada, including, among other interests, mineral exploration projects involving gold (Isko), lithium (Phoenix/Torp), uranium (Preston) and cobalt (Manitou).
The Corporation expects the Name Change to be completed on or before October 29, 2019.
Clean Commodities also recently announced plans to spin-out its wholly-owned subsidiary, Western Hemp Corp. to shareholders (see news release dated September 23, 2019, 'Clean Commodities Corp. Announces Intent to Spin-Out Licensed Hemp Producer to Shareholders')(the "Spin-Out Transaction"). The Spin-Out Transaction is not affected by the Name Change.
About Clean Commodities Corp.
Ryan Kalt, Chief Executive Officer
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.
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.
SOURCE Clean Commodities Corp.
For further information: Ryan Kalt, Chief Executive Officer, 604-652-1710, [email protected], www.cleancommodities.com