Vancouver, British Columbia, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") announces that it has acquired ownership and control of 1,500,000 common shares (the “Subject Shares”) of First Responder Technologies Inc. (the “Company”). The Subject Shares represented approximately 14.8% of all issued and outstanding common shares of the Company as of September 28, 2023, immediately following the transaction described above, resulting in a corresponding increase in the percentage of shares held by Spey as a result of the transaction.
Prior to the transaction described above, Spey held no common shares of the Company.
The Subject Shares were acquired through a share transfer agreement made between the Company, Spey and Rauni Malhi (“Malhi”), pursuant to which Malhi agreed to transfer the Subject Shares to Spey in consideration of a letter agreement made between Spey and Prospectus Capital Inc. (“Prospectus”) by which Spey granted Prospectus the right to acquire a 100% interest in the LEM Property, located in the James Bay Region of Quebec.
The holdings of securities of the Company by Spey are managed for investment purposes. Spey may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities it holds, or may continue to hold its current position. The Subject Shares were issued at a deemed price of $0.42 per Subject Share, for total consideration of $630,000.
A copy of the applicable securities report filed in connection with the matters set forth above may be obtained on SEDAR+ under profiles of the Company and Spey.
Approved for release by the Board of Directors,
Chief Executive Officer
About Spey Resources Corp.
Spey Resources is a Canadian lithium focused mineral exploration company which has an 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina. Spey also holds an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
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Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to Kaslo claims. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release. We seek safe harbour.