MillenMin Ventures Inc. Announces Appointment of New Chief Executive Officer

 

TORONTO, Aug. 01, 2018 (GLOBE NEWSWIRE) -- MillenMin Ventures Inc. (TSX-V:MVM) (“MillenMin”) is pleased to announce that Mr. Tianqi Sun has been appointed Chief Executive Officer of MillenMin. In connection with Mr. Sun being appointed the Chief Executive Officer, Mr. Sun has resigned as the Executive Vice-President of MillenMin. The appointment of Mr. Sun as an officer of MillenMin is effective on obtaining acceptance or no objection from the TSX Venture Exchange (“TSXV”).

Mr. Sun will be succeeding Mr. Lee Cham Wan, who has resigned as Chief Executive Officer of MillenMin, effective August 1, 2018. MillenMin wishes to thank Mr. Wan for his services as an officer. Mr. Wan will remain a director of MillenMin.

Mr. Sun is the Managing Director and Chief Executive Officer of ViTS Holdings Corp., a position that he has held since 2015. Mr. Sun also previously served as a director of MillenMen, before resigning on April 30, 2018. Mr. Sun graduated with a bachelor degree in engineering from the Tianjin University in Tianjin, China in 1985. Mr. Sun also holds a Master of Law diploma from Peking University in Beijing, China, which he obtained in 2000.

Trading of the MillenMin shares remains halted on the TSXV and it is expected that the trading halt will continue until submissions to the TSXV for the previously announced vend-in transaction involving the Cuban golf resort development project (the “Vend-in Transaction”) have been completed to the satisfaction of the TSXV or until it determines otherwise in its discretion.

Additional Information

For further information, please contact Mr. Fan (George) XU, Manager, at 1-289-597-9188. Additional information about MillenMin is available on SEDAR at www.sedar.com.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Completion of the [Vend-in Transaction] is subject to a number of conditions, including but not limited to, contractual conditions, TSXV acceptance and applicable disinterested shareholder approvals. The Vend-in Transaction cannot close until the required shareholder approvals and applicable regulatory approvals are obtained and contractual conditions are met or waived. There can be no assurance that the Vend-in Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of MillenMin should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking statements and information that are based on the beliefs of management and reflect MillenMin’s current expectations. When used in this news release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this news release includes information relating to the effective date of the appointment of Mr. Sun as an officer of MillenMin, the continuation of the trading halt and the submissions for and completion of the Vend-in Transaction. The forward-looking information is based on certain assumptions, which could change materially in the future. Such statements and information reflect the current view of MillenMin with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause MillenMin’s actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risk that the candidacy of Mr. Sun as Chief Executive Officer is not accepted by regulators, the necessary directors, shareholders and regulatory approvals are not obtained or the Vend-in Transaction may be terminated prior to completion. When relying on MillenMin’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. MillenMin has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF MILLENMIN AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE MILLENMIN MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.