LAVAL, Québec, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Axe Exploration Inc. (TSX VENTURE:AXQ) (the "Corporation") the company announces the signature of a convention on the January 26, 2018 with Typhoon Exploration Inc with the aim of the sale of the Ground situated in Rouyn-Noranda in return of a sum of $40,000 in cash.
The transaction was approved by the independent directors of the company and its fence is subject to the approval of the TSX Venture Exchange.
David Mc Donald, president and administrator of the company, is also president and administrator of Typhoon Exploration Inc. As far as in the date of the agreements, the compensation of the operation did not exceed 25% of the market capitalisation of the company the company is exempted from the obligation of establishing an official evaluation and of obtaining the approval of the minority carriers at the end of the Regulation 61-101.David Mc Donald revealed his interest and abstained from participating in the discussion of the board of director surrounding the acquisition and to vote in this respect.
Non honorary of intermediation will be payable within the framework of this transaction.
For more information, visit the company’s website at www.axeexploration.com or SEDAR’s website at www.sedar.com.
The common shares of Axe Exploration Inc. are listed on the Venture Stock Exchange under
the symbol “AXQ”.
Contact and Information
Axe Exploration inc.
Tel : 450.622.5785
Fax : 450.622.4337
info@axeexploration.com
www.axeexploration.com
TSX-V: AXQ
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.