Golden Share Provides Update on Energy Storage Business
Toronto, Ontario--(Newsfile Corp. - April 17, 2018) - Golden Share Resources Corporation ("Golden Share" or the "Company") (TSXV: GSH) announces its intention to spin out its energy storage business into a new public entity, with the Company retaining its mineral exploration business. In conjunction with its legal and tax advisors, Golden Share is reviewing various options for structuring and implementing such a transaction. While the Company intends to proceed expeditiously, it is not yet in a position to determine when any such spin out might be completed and will keep the market informed by way of subsequent announcements if and when further developments warrant. Any such transaction will be subject to the approval of the TSX Venture Exchange.
As previously announced, Golden Share's energy storage business currently consists of a series of agreements as follows:
- The Strategic Partnership Agreement between Northwest Mining & Exploration Group and Golden Share (announced on May 24, 2016).
- The License Agreement with the Battelle Memorial Institute, the operator of the Pacific Northwest National Laboratory ("PNNL") for the U.S. Department of Energy (announced on October 18, 2016).
- The Agreement for Commercializing Technology with PNNL (announced on January 30, 2018).
- The Letter of Intent with Hunan Vanadium Valley New Energy Technology (announced on February 12, 2018).
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the Company's intention to spin out its energy storage business. Although the Company believes the expectations reflected in such statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include that the Company will be able to identify a viable mechanism for spinning out that business in a manner that is feasible from a legal, tax and commercial perspective, as well as the ongoing viability of that business until the spinout is complete. Factors that could cause actual results to differ materially from expectations include legal, tax or commercial issues that make such a transaction impractical, and PNNL's inability to develop the battery on time, within budget or at all due to technical, personnel or other obstacles. A description of other risks affecting the Company's business and activities appears under the heading "Risks" on page 15 of its 2016 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. The Company disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
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.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: info@goldenshare.ca