Toronto, Ontario--(Newsfile Corp. - November 5, 2021) - Norvista Capital Corporation (TSXV: NVV) ("Norvista" or the "Company") announces that the Board of Directors of the Company has approved a vertical amalgamation with its wholly owned subsidiary, Olive Resource Capital Inc. Following the amalgamation, the Company's name will change from "Norvista Capital Corporation" to "Olive Resource Capital Inc." The Company's stock symbol on the TSX Venture Exchange will change from "NVV" to "OC". The name change is subject to the approval of the TSX Venture Exchange.
The Company also wishes to announce that it has sponsored the launch of a Flow-Through Limited Partnership named Olive Resource Capital Flow-Through Limited Partnership ("FTLP"). The Company through a newly formed subsidiary, Olive Resource Capital G.P. Ltd. will act as the General Partner ("GP") of the FTLP. The GP has entered into agreements with a third-party Portfolio Manager, and a third-party Investment Fund Manager to manage the affairs of the FTLP. The Company has also entered into a binding Letter of Intent ("LOI") such that after the tax renunciations to the partners have been made, the Company will acquire the assets of the FTLP in exchange for shares of the Company.
Samuel Pelaez, the Company's President, CEO, CIO and Director, stated: "I am excited to announce this growth initiative through the flow-through partnership. Besides ultimately expanding the asset base of the Company, the flow-though limited partnership will allow the Company to diversify its investment portfolio over the medium-term, a key element of our strategy to move the Company forward."
Derek Macpherson, Executive Chairman, stated: "Olive may be considered an unusual choice to name a resource investment company; however, I think it perfectly suits. Olive trees are one of the longest-lived fruit trees, that survive in some of the harshest environments and provide fruit for their owners for generations. This is our objective for the Company - while junior mining can be a challenging sector to invest in, our plan is to build Olive Resource Capital to thrive in all parts of the commodity cycle and provide long-term returns for our shareholders."
About Norvista (to be Olive Resource Capital Inc.):
Norvista is a resource-focused merchant bank and investment company with a portfolio of publicly listed securities issued by companies engaged in precious and base metal exploration and development. The Company's core investments include Minera Alamos Inc., Rockcliff Metals Corporation, Great Bear Royalties Corp., and Nevada Zinc Corp.
For further information, please contact:
Derek Macpherson, Executive Chairman by email at dmacpherson@norvistacapital.com or by phone at 416-294-6713 or Samuel Pelaez, President, CEO & CIO by email spelaez@norvistacapital.com or by phone at 202-677-8513. Norvista's website is located at www.norvistacapital.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should", "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Norvista to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Norvista believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and those risks set out in the Company's public documents filed on SEDAR. Accordingly, readers should not place undue reliance on forward-looking information. Norvista does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. The information provided in this recording has been obtained from sources believed to be reliable and is believed to be accurate at the time of publishing but we do not represent that it is accurate or complete and it should not be relied upon as such.
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