Pezm Gold (PEZM.H-V) Terminates Transaction With Innovative Hydrogen Solutions
August 15th 2024 - NR
Pezm Gold Inc. has reached an agreement with Innovative Hydrogen Solutions Inc. (IHS) and its wholly owned subsidiary to terminate the definitive purchase agreement entered into effective May 3, 2023. In connection with termination of the purchase agreement, IHS has granted the company a right of first refusal in the event of a future offer to acquire IHS or its business. IHS has also agreed to complete a one-time cash payment to the company in the event it successfully completes a sale of IHS, or its business and assets, in certain circumstances, or if a transaction is completed with a party introduced by the company. No funds were advanced to IHS in connection with the transactions contemplated by the purchase agreement, but the company did incur expenses in furtherance of the transaction. In connection with termination of the purchase agreement, the company has not assumed any contingent liabilities or guarantees. For further information concerning the purchase agreement, readers can review the company's news release of May 4, 2023.
Trading in the No funds were advanced to IHS in connection with the transactions contemplated by the Purchase Agreement, but the Company did incur expenses in furtherance of the transaction. In connectionwith termination of the Purchase Agreement, the Company has not assumed any contingent liabilities or guarantees. For further information concerning the Purchase Agreement, readers can review the Company’s news release of May 4, 2023.
Trading in the common shares of the company has been halted pending completion of filings for the proposed transaction with the TSX Venture Exchange. The company intends to request a resumption in trading and will issue a further news release once the effective date for the resumption has been confirmed.
On Behalf of the Board of Directors,
PEZM GOLD INC.
Arness Cordick, Chief Executive Officer
Phone: 604.685.1017
Fax: 604.685.5777 |
