TORONTO, Oct. 19, 2022 (GLOBE NEWSWIRE) — Green Shift Commodities Ltd. (TSXV: GCOM), (“Green offset“or the”Company”) is pleased to announce the completion of its name change from U3O8 Corp. to better reflect the progress of the Company and its vision for the future. At market opening today, the Company’s common shares (the “Ordinary actions”) will begin trading on the TSX Venture Exchange (the « TSXV“) under the new trading symbol “COMG“, previously “UWE”.
Along with the name change, the company changed its name. This includes a new visual identity and a new website – www.greenshiftcommodities.com, which is expected to launch in the coming weeks.
The change of name does not affect the rights of shareholders of the Company. There is no capital consolidation associated with the name change. Shareholders will not be required to take any action in connection with the name change. Certificates issued representing common shares will not be affected by the name change and will not need to be exchanged. The Company encourages shareholders to contact their broker with any questions regarding the proposed name change.
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd. focuses on exploring and developing the raw materials needed to help decarbonize and achieve net zero goals.
The Company is developing the Berlin deposit in Colombia. In addition to uranium, for clean nuclear energy, the Berlin deposit contains battery products, including nickel, phosphate and vanadium. Phosphate is a key component of lithium-ion ferro-phosphate (“LFP”) batteries that are used by a growing list of electric vehicle manufacturers. Nickel is a component of various lithium-ion batteries, while vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the rare earth elements contained in the Berlin deposit, is a key component of powerful magnets used to increase the efficiency of electric motors and generators in wind turbines.
For more information, please contact:
Trumbull Fisher, CEO, Green Shift Commodities Ltd.
Tel: (416) 917-5847
Nisha Hasan, Investor Relations, Momentum IR Corp.
This press release includes certain “forward-looking statements”. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions for the future, and include, but are not limited to, statements regarding: listing of the Common Shares on TSXV under the new name and ticker symbol or the successful reactivation of the Berlin Project; the future direction of the Company’s strategy; and other activities, events or developments that are expected, anticipated or likely to occur in the future. These statements are based on assumptions, including: (i) the ability to find a profitable business or successfully complete the purchase of such a business or on commercially acceptable terms; (ii) actual results of our exploration, resource targets, metallurgical testing, economic studies and development will continue to be positive and will proceed as planned, (iii) regulatory and governmental approvals required will be received in a timely manner on terms acceptable to Green Shift Commodities Ltd. (iv) economic, political and industrial market conditions will be favorable, and (v) financial markets and the market for uranium, batteries and rare earths will continue to strengthen. These statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in these statements, including, but not limited to: (1) changes general economic and financial market conditions, (2) changes in mineral demand and prices, (3) the Company’s ability to find commercially viable reactivation transactions and/or establish appropriate joint venture partnerships, (4) litigation, regulatory and legislative developments, dependence on regulatory approvals and changes in environmental compliance requirements, community support, and the political and economic climate, (5) inherent uncertainties and the speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (6) competitive developments, (7) availability of future financing, (8) effects of COVID-19 on the business of Company, including but not limited to the effects of COVID-19 on capital markets, commodity prices, labor regulations, supply chain disruptions, and domestic and international travel restrictions , (9) exploration risks and other factors beyond the control of Green Shift Commodities Ltd including the factors set out in “Risk Factors” in our MD&A dated May 2, 2022 for the financial year ended December 31, 2021 available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. Green Shift Commodities Ltd. assumes no obligation to update this information, except as required by law.
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 press release.