VANCOUVER, BC, Dec. 4, 2023
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("SKRR" or the "Company") is pleased to
announce it has entered into a letter of intent ("LOI")
with X1 Entertainment Group Inc. (CSE: XONE) ("X1"),
whereby SKRR and X1 will negotiate and settle the terms of a
definitive acquisition agreement (the "Acquisition
Agreement") for X1 to acquire a 100% interest in SKRR's
wholly-owned Manson Bay gold project (the "Manson Bay
Project").
The Manson Bay Project is located in the Trans Hudson Corridor
in east-central Saskatchewan,
approximately 40km northwest of the historic mining center of
Flin Flon, on the Manitoba border. The Manson Bay Project
consists of thirteen (13) contiguous mineral claims totaling
4,293.213 hectares.
Under the terms of the LOI, X1 may acquire a 100% interest in
the Manson Bay Project by issuing 1,000,000 common shares in the
capital of X1 to SKRR. The potential Acquisition Agreement and the
consideration and transactions contemplated thereunder, will be
subject to and in accordance with applicable corporate and
securities laws and the approval of the Canadian Securities
Exchange, and if required, the approval of the TSX Venture Exchange
and any other such approvals that may be required, including
approval of the shareholders of X1.
Further details regarding the proposed transaction with X1 will
be provided in a comprehensive news release if, and when, the
parties enter into the Acquisition Agreement. There can be no
guarantees that the proposed transaction will be completed as
contemplated or at all.
About SKRR Exploration
Inc.:
SKRR is a Canadian-based precious and base metal explorer with
properties in British Columbia and
Saskatchewan – some of the world's
highest ranked mining jurisdictions. The primary exploration focus
is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious
and base metal deposits. The Trans-Hudson Orogen – although
extremely well known in geological terms has been significantly
under-explored in Saskatchewan.
SKRR is committed to all stakeholders including shareholders, all
its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl
President & CEO
Tel: 250-558-8340
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
Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, statements that address the
potential transaction with X1 including entering into the
Acquisition Agreement, Canadian Securities Exchange and TSX Venture
Exchange approval of the transaction, as applicable, approval of
the shareholders of X1 and other statements relating to the
technical, financial and business prospects of the Company, its
projects and other matters, and the Company's plans and goals. All
statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and
the environment in which the Company will operate in the future,
including the price of metals, the ability to achieve its goals,
the ability to secure equipment and personnel to carry out work
programs, that general business and economic conditions will not
change in a material adverse manner, that financing will be
available if and when needed and on reasonable terms. Such
forward-looking information reflects the Company's views with
respect to future events and is subject to risks, uncertainties and
assumptions, including the risks and uncertainties relating to the
interpretation of exploration results, the interpretation of
technical and scientific data, risks related to the inherent
uncertainty of exploration and development and cost estimates and
the potential for unexpected costs and expenses and including those
filed under the Company's profile on SEDAR at www.sedarplus.ca.
There is a possibility that future exploration, development or
mining results will not be consistent with the Company's
expectations. Factors that could cause actual results to differ
materially from those in forward looking statements include, but
are not limited to, continued availability of capital and financing
and general economic, market or business conditions, adverse
weather or climate conditions, decrease in the price of metals,
equipment failures or failure to obtain the necessary equipment,
failure to maintain all necessary government permits, approvals and
authorizations, failure to maintain community acceptance (including
First Nations), increase in costs, litigation, and failure of
counterparties to perform their contractual obligations. The
Company does not undertake to update forward–looking statements or
forward–looking information, except as required by law.
SOURCE SKRR EXPLORATION INC.