Philippine Metals Announces Proposed Acquisition of Revolve Renewable Power Limited
Vancouver, BC, June 24, 2021 – Philippine Metals Inc. (“PMI” or the “Company”) is pleased to announce that it has entered into a letter of intent dated June 16, 2021 with Revolve Renewable Power Limited (“Revolve”) pursuant to which the parties will, inter alia, negotiate a plan of arrangement agreement whereby PMI will acquire all of the outstanding shares of Revolve in exchange for shares of PMI (the “Acquisition”). The Acquisition will constitute a reverse takeover (“RTO”) under the policies of the TSX Venture Exchange (the“TSXV”) and is an arm’s length transaction. All currency figures quoted herein are in Canadian dollars unless stated otherwise.
