MONTREAL, May 31, 2019 /CNW/ - AM Resources Corp.
(TSXV: AMR) (Frankfurt: 76A)
is pleased to announces it closed its previously announced
non-arm's length acquisition of a 60% indirect interest in the La
Esperanza asphaltite property in consideration of the issuance of
4,700,000 common shares (the "Acquisition").
"We are really pleased to have finally cleared all regulatory
hurdles and to be now focusing on developing La Esperanza, which is
a perfect strategic extension of our Rio
Negro project. We believe that this acquisition should be
immediately accretive to earnings, and will allow us to undertake
our crossover into precious metals", said Adriana Rios Garcia, Interim President and CEO
of AM.
Management Change
The Corporation also announces that Ms. Adriana Rios Garcia, COO, has been appointed
interim President and CEO, effective May 30,
2019, taking the place of Dominic
Voyer, who resigned as President and CEO but will remain a
director of the Corporation.
The Corporation expresses its appreciation to Mr. Voyer for his
service to the Corporation and wishes him success in his future
endeavours.
All securities issued in connection with the Acquisition will be
subject to a statutory hold period until October 1, 2019.
ABOUT AM RESOURCES CORP.
AM Resources Corp. is a mining exploration Corporation with
interests in coal and natural bitumen projects in Colombia. AM is betting on Colombia's excellent mineral potential and
favourable climate to pursue its new Colombian venture. The
Corporation is also engaged in gold brokerage activities in
Colombia through its subsidiary,
AM Resources Trading Corp.
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.
www.am-resources.com
SOURCE AM Resources Corp.