VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
DataMiners Capital Corp. (the "Company") (TSX VENTURE:DMC.P) announces today that a result of the Corporation's inability to complete a qualifying transaction within the time period prescribed by the TSX Venture Exchange (the "Exchange"), the Corporation has applied for a transfer to the NEX board of the Exchange (the "NEX Transfer"), which the Exchange has accepted. The Corporation's tier classification will change from Tier 2 to the NEX. The Exchange has advised that soon after the dissemination of this news release that the Exchange will issue a bulletin on the NEX Transfer where the Corporation's symbol will change from DMC.P to DMC.H. There is no change in the Corporation's name, no change in its CUSIP number and no consolidation of capital. Trading shall be reinstated at market opening on Tuesday, April 4, 2017.
The Corporation obtained the requisite shareholder approval (exclusive of the votes of non-arm's length parties to the Corporation) for the NEX Transfer at a meeting of its shareholders held on August 25, 2016. As required under Exchange policy, an aggregate of 1,050,000 common shares of the Corporation subject to escrow and held by the Corporation's officers and directors, have been cancelled in order to complete the NEX Transfer.
The Directors and Officers of the Corporation will continue to be as follows:
Darryl Cardey - President, Chief Executive Officer, Chief Financial Officer and Director
Rose Zanic - Corporate Secretary and Director
David L. Wood - Director
Colleen Flynn - Director
The Corporation will remain listed on the NEX until it acquires new assets or businesses, which would result in the Corporation once again meeting the Exchange minimum listing requirements.
About the Corporation
The Corporation is designated as a Capital Pool Company by the Exchange. The Corporation has not commenced commercial operations and has no assets other than cash. The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
Cautionary Statement Regarding "Forward-Looking" Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.