Challenger Deep Resources Corp.

Challenger Deep Resources Corp.

July 06, 2015 07:30 ET

Challenger Announces Sponsorship by Clarus Securities Inc.

CALGARY, ALBERTA--(Marketwired - July 6, 2015) - Challenger Deep Resources Corp. ("Challenger" or the "Company") (TSX VENTURE:CDE) is pleased to announced that it has entered into an agreement with Clarus Securities Inc. ("Clarus") with respect to Clarus's sponsorship of Challenger's proposed change of business initially announced on April 29,2015 .Following its due diligence, Clarus will prepare a Sponsorship Report in accordance with the policies of the TSX Venture Exchange.

Challenger's new business will be the development and operation of an Enterprise-level, multi-platform online promotions management system. The system will use game-based applications designed to engage consumers in an entertaining and interactive fashion. The Company's application is being designed to service a broad spectrum of the promotions market in terms of client profile and needs fulfillment. Our solution will have multilingual capabilities to further extend market reach globally.

Challenger's change of business is subject to TSX Venture Exchange approval and the sponsorship by Clarus is a part of that approval process. The change of business is also subject to shareholder approval. In that regard Challenger intends to call a Special and Annual General Meeting of Shareholders in early September at which approval of shareholders for the change of business, a change of the Company's name to DeepMarkit Corp and the regular items of annual business will be sought.

About Clarus

Clarus is a research-driven, institutional investment dealer, focused on providing a superior level of service to the small to mid-cap market. Clarus is a member of IIROC and a participating member of the TSX and TSX Venture Exchanges. Clarus has offices in Toronto and Calgary.

About Challenger

Challenger is currently classified as a Resource Issuer however has divested itself of all resource assets and now seeks to become a Technology Issuer through the completion of the Change of Business as initially disclosed in its press release dated April 29, 2015. In connection with the proposed Change of Business, the Corporation proposes to change its name to DeepMarkit Corp. DeepMarkit will offer a powerful and unique promotions management solution designed to help businesses of all sizes run promotions that drive brand awareness, customer engagement and direct sales.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of Challenger should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.


Statements in this press release may contain forward-looking information including, statements regarding the sponsorship and the proposed change of business. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Challenger. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain the required regulatory and shareholder approval, inability to complete development of the promotions application, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this press release are made as of the date of this press release, and Challenger does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

Contact Information

  • Challenger Deep Resources Corp.
    Ranjeet Sundher

    Challenger Deep Resources Corp.
    Darold H. Parken
    Tel: 403-537-0067