QUÉBEC CITY, April 08, 2025 (GLOBE NEWSWIRE) -- Robex Resources Inc. (TSXV: RBX) ("Robex" or the "Company") announces that it has entered into a settlement agreement with certain claimants (the "Claimants") that were party to a share purchase agreement executed between the Company, Sycamore Mining Ltd. and its shareholders on April 19th, 2022 (the "Sycamore SPA") with respect to certain claims made by the Claimants (Sycamore Agreement), which remains conditional upon receiving the approval of the TSX Venture Exchange (the "TSX-V").
In consideration of a mutual full and final release in regard to the Sycamore SPA and accessory agreements, the Company agreed to:
- issue all outstanding common shares of the Company issuable pursuant to the Sycamore SPA;
- pay to the Claimants a total sum of CAD$1,000,000, made in a first installment of CAD$250,000 before June 5th, 2025, and a second installment of CAD$750,000 before September 5th, 2025; and
- grant to the Claimants a total of 12,500,000 common share purchase Warrants (the "Settlement Warrants"), with each Settlement Warrant entitling the holder to acquire one common share for a period of 36 months, for an exercise price of CAD$2.75 per common share.
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with near-term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.
Robex is supported by two strategic shareholders and has the ambition to become one of the most important mid-tier gold producers in West Africa.
For more information
ROBEX RESOURCES INC.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
+1 581 741-7421
Email: investor@robexgold.com
www.robexgold.com
FORWARD-LOOKING INFORMATION AND FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation (referred to herein as "forward-looking statements"). Forward-looking statements are included to provide information about Management's current expectations and plans that allow investors and others to have a better understanding of the Company's business plans and financial performance and condition.
Statements made in this news release that describe the Company's or Management's estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be "forward-looking statements", and can be identified by the use of the conditional or forward-looking terminology such as "aim", "anticipate", "assume", "believe", "can", "contemplate", "continue", "could", "estimate", "expect", "forecast", "future", "guidance", "guide", "indication", "intend", "intention", "likely", "may", "might", "objective", "opportunity", "outlook", "plan", "potential", "should", "strategy", "target", "will" or "would" or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Such statements may include, but are not limited to; obtaining all necessary regulatory approvals, including the acceptance of the Settlement by the TSXV and the timing thereof; and the completion of the Settlement and the timing thereof.
Forward-looking statements and forward-looking information are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements or information. There can be no assurance that such statements or information will prove to be accurate. Such statements and information are based on numerous assumptions, including: the Company's ability to satisfy the conditions precedent to the Settlement, including obtaining all necessary regulatory approvals and the timing thereof (including the acceptance of the Settlement by the TSXV).
Certain important factors could cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements including, but not limited to: delays in obtaining all necessary regulatory approvals and the timing thereof (including the acceptance of the Settlement by the TSXV), All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors are not intended to represent a complete and exhaustive list of the factors that could affect the Company; however, they should be considered carefully. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
The Company undertakes no obligation to update forward-looking information if circumstances or Management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company's plans and objectives, and may not be appropriate for other purposes.
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.
