Vancouver, British Columbia--(Newsfile Corp. - April 25, 2018) - International Tungsten Inc. (the "Company") is pleased to announce the results of its special meeting of shareholders (the "Meeting") held on April 24, 2018 to consider the Company's previously announced amalgamation (the "Transaction") with Arbutus Brands Inc. ("Arbutus Brands"), a wholly-owned subsidiary of Choom Holdings Inc. ("Choom"), pursuant to an amalgamation agreement (the "Agreement") among the Company, Choom and Arbutus Brands dated March 16, 2018.
By special resolution passed at the Meeting, the Transaction was approved by 100% of the votes cast by the Company's shareholders, such votes representing 70.82% of the Company's issued and outstanding shares as of March 12 2018, being the record date for the determination of shareholders entitled to notice of and to vote at the Meeting.
The closing of the Transaction remains subject to a number of conditions, including the completion of satisfactory due diligence, any required regulatory and third-party consents and completion of the Company's acquisition of Specialty Medijuana Products Inc., which was announced in the Company's press release dated March 9, 2018.
For further information please contact:
Stephen Leahy, Chief Executive Officer and Chairman
International Tungsten Inc. Email: itungsten@outlook.com
Tel: 604.729.4573
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "intends", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: the Transaction, including as to the terms thereof; that all required conditions for completion of the Transaction will be satisfied. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including: that the Transaction will not complete as contemplated or at all; and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward- looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
