Vancouver, British Columbia, Canadian Zeolite Corp. (the “Company”) (TSX.V: CNZ) (OTCQB: CNZCF) (FSE: ZEON), pursuant to the arrangement summarized in the news release dated February 17, 2017, the Company is expected to distribute the common shares it holds in Canadian Mining Corp. to its shareholders. The shares are expected to be distributed to Class “A” Common shareholders of the Company. The number of shares exchanged are expected to be one (1) Canadian Mining Corp. share for every five (5) shares held in the Company. The record date for this share exchange is expected to be May 1, 2017, or such other date as the Company may determine. This is a special share exchange being conducted by way of plan of arrangement and is subject to the fulfillment of a number of conditions which are set out in the Company’s Management Information Circular dated March 14, 2017 and posted on the Company’s SEDAR profile on March 28, 2017. Conditions include but are not limited to shareholder approval at the Company’s Annual and Special Meeting on April 28, 2017, obtaining a final court order approving the arrangement, Canadian Mining Corp. completing an equity financing raising net proceeds of $650,000 and other conditions standard for a plan of arrangement.
About Canadian Zeolite
Canadian Zeolite Corp. is an environmentally friendly Green Tech company involved in the exploration, development and production of the industrial mineral zeolite. It is a producer of natural zeolite from its zeolite deposits in British Columbia, Canada. The Company’s shares are listed on the TSX Venture Exchange under the symbol CNZ, on the OTCQB under the symbol “CNZCF” and on the Frankfurt Exchange under the symbol “ZEON”.
On behalf of the Board of Directors
President & CEO
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 Statements
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Canadian Zeolite does not assume the obligation to update any forward-looking statement.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Cautionary Note Regarding the United States
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.