TORONTO, ONTARIO--(Marketwired - Jan. 30, 2015) - Further to its news releases dated November 27 and December 22, 2014, Cogitore Resources Inc. ("Cogitore" or the "Company") (News - Market indicators) announced today that the sale of substantially all of its exploration properties and physical exploration assets (the "Transaction") in the provinces of Quebec and Ontario to Yorbeau Resources Inc. (TSX:YRB.A) ("Yorbeau") in consideration for 25 million common shares in the capital stock of Yorbeau has closed.
"Closing the Transaction completes our strategic initiative of exiting the junior mineral exploration industry," said Brian Howlett, President and CEO of Cogitore. "Moving forward, we are selectively evaluating opportunities in various sectors and look forward to redeploying our capital into assets that we hope will generate significant shareholder value."
Transfer to NEX
As a result of the closing of the Transaction, in accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective February 3, 2015, the Company's listing will transfer to NEX, and the trading symbol for the Company will change from "WOO" to "WOO.H". There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital at this time. The Company anticipates affecting both the previously announced one (1) for 10 common share consolidation, and the name change to "CR Capital Corp.", in early 2015.
About Cogitore Resources Inc.
Cogitore is repositioning itself to optimize the value for shareholders.
Caution Regarding Forward-Looking Information
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. In particular, this News Release makes reference to the proposed consolidation and name change. Readers are cautioned that there is no assurance that the consolidation and name change referenced herein will proceed as planned and certain conditions must be met before the consolidation and name change are effected. Many factors could cause the performance or achievement by Cogitore to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. These factors include the failure to obtain the required approvals. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this New Release are expressly qualified by this cautionary statement. The Company is not under any duty to update any of the forward-looking statements after the date of this press release or to conform such statements to actual results or to changes in the Company's expectations and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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.
