CALGARY, Jan. 30, 2018 /CNW/ - TVI Pacific Inc. (TSX-V: TVI) (OTC Pink: TVIPF) ("TVI" or "the Company") announces that Integrated Green Energy Solutions Limited ("IGES", formerly FOY Group Limited), a company in which TVI has a 5.22% equity interest, has completed its relisting to the Australian Stock Exchange ("ASX"), thereby resulting in its securities being reinstated to official quotation from the commencement of trading on January 30, 2018. This follows IGES' re-compliance with Chapters 1 and 2 of the Listing Rules, pursuant to Listing Rule 11.1.3.
While the ASX has advised that all shares and unlisted options held by TVI are not subject to any ASX restrictions, IGES has reported that 129,784,699 other fully paid ordinary shares are subject to a 24 month escrow period from the date of reinstatement to the official quotation of IGES' securities on the ASX, and a further 101,048,606 other fully paid ordinary shares are subject to a 12 month escrow period from the date of issue. In addition, IGES has reported that 82,241,054 other unlisted options are subject to a 24 month escrow period from the date of reinstatement to the official quotation of IGES' securities on the ASX, and 65,758,950 other unlisted options are subject to a 12 month escrow period from the date of issue.
TVI continues to hold 17,592,908 shares and 9,158,622 options in IGES with a conversion price of A$0.20 and expiry date of December 31, 2019, representing a 5.22% equity interest in issued shares of IGES.
About TVI Pacific Inc.
TVI Pacific Inc. is a Canadian resource company focused on the acquisition of resource projects in the Asia Pacific region. TVI currently holds a 30.66% equity interest in TVIRD and a 5.22% equity interest in Integrated Green Energy Solutions Limited, a publicly listed company incorporated in Australia with shares listed on the ASX, that is engaged in the commercialization of technologies related to converting waste plastics to fuel in Australia and internationally. TVI's other holdings include a 14.4% equity interest in Mindoro Resources Ltd.; a 10% interest in the Amazon Bay Iron Sands project in Papua New Guinea; and a 100% investment in shares of TG World.
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions. Forward-looking statements in this News Release are based upon the opinions and expectations of management of the Company as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements.
Various risks to which the Company is exposed in the conduct of its business (including mining activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2016, which was filed on SEDAR on April 18, 2017 and is available under the Company's profile at www.SEDAR.com. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.
SOURCE TVI Pacific Inc.
For further information: Patrick Hanna, Chief Financial Officer, TVI Pacific Inc., Phone: 403-265-4356, E-mail: [email protected]