Toronto, Ontario--(Newsfile Corp. - May 28, 2024) - Kingsview Minerals Ltd. (CSE: KVM) (FSE: 0L4) (the "Company" or "Kingsview") and Erco Holdings Ltd. of Nevada ("Erco") are pleased to provide an update regarding the non-binding Letter of Intent ("LOI") signed in November 2023 for an asset purchase agreement for three saltwater disposal leases in Texas.
The LOI was initially scheduled to expire on November 30, 2023, but the parties have agreed to extend the deadline to allow for the completion of due diligence and other necessary steps.
The Company is currently working to complete due diligence and is actively raising funds to support the transaction. The Company is pleased with the progress made so far and is committed to delivering a successful outcome for its shareholders.
"We are excited about the potential opportunities that this transaction presents, and we are working hard to ensure its successful completion," said James Macintosh, President & CEO of Kingsview Minerals. "We appreciate the continued support of our shareholders and look forward to keeping them updated on our progress."
The Company will provide further updates on the transaction as necessary and will continue to work towards delivering value to its shareholders.
About Kingsview Minerals Ltd.
Kingsview is a mineral exploration company focused on its gold and base metal exploration properties, including the flagship 13,056-hectare Echum Project and the 2,239-hectare Hubcap Project, both located in the active Wawa Gold Corridor in Ontario, Canada. The Company's properties are surrounded by advanced infrastructure in a well-developed mining district. Learn more: .
For more information, please contact investor relations at investors@kingsviewminerals.ca.
On Behalf of the Board of Directors,
James Macintosh
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. All statements other than statements of present or historical fact are forward-looking statements and include but are not limited to statements regarding the potential that the projects will yield any precious metals in future exploration programs and the Company's ability to advance its properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include the Company's ability to implement a drill program on the projects, that the Company will have sufficient funds available to it and that the Company will continue to be able to retain skilled personnel. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets; there being no assurance that any future exploration program on the projects will result in mineral resources; the inability of the Company to raise sufficient funds and/or retain necessary personnel to conduct its operations; the impact on the business, operations and financial condition of the Company resulting from the announcement of the purchase of the projects; the impact that the recovery post COVID-19 may have on precious metals; failure to realize the anticipated benefits of the transaction described in this press release; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and any risks associated with the ongoing COVID-19 pandemic.
You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company's SEDAR profile page at . The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.