TIDMG3E

RNS Number : 0818E

G3 Exploration Limited

02 July 2021

2 July 2021

G3 EXPLORATION LIMITED

("G3 Exploration", "G3E" or the "Company")

Corporate Update

Please be advised that on 11 November 2020 in accordance with the Cayman Islands Companies Winding Up Rules ("CWRs"), the Joint Official Liquidators ("JOLs") determined that the Company should be treated as of doubtful solvency. Due to that certification of doubtful solvency both the Company's creditors and shareholders were deemed to potentially have an economic interest in the official liquidation.

On 2 July 2021, again in accordance with the CWRs, the JOLs changed their determination of solvency and now hereby determine that the Company should be treated as insolvent. The JOLs have filed the formal certificate with the Grand Court of the Cayman Islands to confirm this determination. The effect of this change in the determination of solvency is that now only the Company's creditors are deemed to have an economic interest in the official liquidation.

Please be advised that the JOLs may change their determination again in the light of future changes of relevant circumstances and / or their assessment of the Company's financial position.

Yours faithfully,

Christopher Kennedy

Joint Official Liquidator

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFLFSTDSIFIIL

(END) Dow Jones Newswires

July 05, 2021 02:00 ET (06:00 GMT)

G3 Exploration (LSE:G3E)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more G3 Exploration Charts.
G3 Exploration (LSE:G3E)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more G3 Exploration Charts.