First Bauxite Corporation Announces Filing of Quarterly Financial Statements and MD&A

NEW ORLEANS, Nov. 21, 2018 (GLOBE NEWSWIRE) -- First Bauxite Corporation (“First Bauxite” or the “Company”) (TSX-V:FBX, FSE/BER:FBI) is pleased to announce that it has filed its unaudited quarterly financial statements and management’s discussion and analysis for the period ended September 30, 2018. Both are available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.firstbauxite.com.

Subsequent to the Third Quarter, on October 19, 2018, the Company entered into an arrangement agreement with Resource Capital Fund V L.P. and Resource Capital Fund VI L.P. pursuant to which the Company is to be taken private by way of a statutory plan of arrangement (the “Arrangement”) under section 288 of the Business Corporations Act (British Columbia). At the upcoming special meeting, to be held on December 7, 2018, shareholders of the Company will be asked to consider, and if thought fit, approve a special resolution authorizing the going private transaction.

On behalf of the Board of Directors of First Bauxite Corporation

Alan Roughead
President & CEO

About First Bauxite

First Bauxite Corporation is a Canadian natural resources company engaged in the exploration and development of bauxite deposits in Guyana, South America. The Company intends to produce and sell bauxite raw ore from its facility in Guyana and intends to produce sintered refractory products and ceramic proppants for the refractory and energy industries in the future. The Company has its head office in New Orleans, Louisiana and is managed by experienced professionals with worldwide experience in the global industrial minerals industry across a number of industrial minerals. For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.

Neither the 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.

Forward-looking Statements

Certain statements contained herein constitute “forward-looking statements” or “forward-looking information” under applicable securities laws (“forward-looking statements”). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “will”, “anticipates”, “believes”, “intends”, “expects” and similar expressions. These statements include, but are not limited to, statements regarding the approval by shareholders of the special resolution authorizing the going private transaction and the completion of the Arrangement. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect the Company’s business, or if the Company’s assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, effect of capital market conditions and other factors, and other risks affecting the Company or the mining industry more fully described in the Company’s continuous disclosure documents, which are available under the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

For further information please contact:

First Bauxite Corporation
Alan Roughead, President & CEO
Telephone: +1 592-223-4396
Email: info@firstbauxite.com
Website: www.firstbauxite.com