Currie Rose Provides Update on Previously Announced Acquisition of Kotai Energy and its Hydrogen Project
Toronto, Ontario--(Newsfile Corp. - May 15, 2023) - Currie Rose Resources Inc. (TSXV: CUI) ("Currie Rose" or the "Company") is pleased to provide an update, further to its news release dated March 23, 2023 (the "Initial News Release"), on its previously announced acquisition of WA Hydrogen Pty Ltd. ("Kotai Energy") to take place pursuant to a share exchange agreement (the "Share Exchange Agreement") dated March 21, 2023 with and the shareholders of Kotai Energy (the "Transaction").
Currie Rose announces, on April 26, 2023, the TSX Venture Exchange (the "TSXV") provided its conditional approval of the Acquisition. The Company continues to work diligently towards satisfying the TSXV's requirements in order to obtain final approvals.
Additionally, the parties to the Share Exchange Agreement entered into an amending agreement dated May 12, 2023 in order to amend certain immaterial terms of the Share Exchange Agreement.
About Kotai Energy
Kotai Energy, in partnership with Curtin University in Western Australia, is developing solid state bulk exportable hydrogen technologies for deployment away from the production source, with the objective of it being economically and commercially viable (the "Hydrogen Project"). Kotai Energy's partnership with Curtin University commenced in November 2018 with the intention that Curtin University, with the financial assistance and in-kind support assistance of Kotai Energy, submit an initial application to the Australian Research Council ("ARC") seeking funding for the Hydrogen Project. The Hydrogen Project offers various synergies with the vanadium redox flow battery technology that is currently being pursued by the Company and each target the growing need for reliable alternative sources of energy.
For further details on the Transaction, readers are referred to the Initial News Release, which is available under the Company's profile on SEDAR at www.sedar.com.
About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals explorer and developer focused on identifying high-value assets in mining-friendly jurisdictions. The Company's immediate focus is the advanced NQV Project in Queensland, Australia. The NQV Project hosts the Cambridge Deposit with an Indicated Mineral Resource of 61.33 Mt @ 0.34% V2O5 and 234.6 ppm MoO3 along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V2O5 and 241.9 ppm MoO3 (Dufresne et al., 2022). The Cambridge Deposit Resource is open for expansion. The NQV Project also hosts multiple other drill-ready targets that represent large areas of underexplored, prospective vanadium-rich host strata. Please visit our website at www.currierose.com.
For additional information, please contact:
Iryna Zheliasko, Investor Relations
Office: (+1) 647-249-9298
Email: communications@currierose.com
Neither 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.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the statement that the Company will acquire the Kotai Shares. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will be able to complete the acquisition of Kotai Energy on the terms and conditions set out in the Share Exchange Agreement, and that the Company will receive the required corporate and regulatory approvals, including TSXV approval. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not be able to complete the acquisition of Kotai Energy on the terms and conditions set out in the Share Exchange Agreement or at all, or that the Company does not receive the required corporate and regulatory approvals, including TSXV approval. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166148