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04:43:20 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



HTC Purenergy Inc
Symbol HTC
Shares Issued 203,433,741
Close 2023-06-01 C$ 0.005
Market Cap C$ 1,017,169
Recent Sedar Documents

HTC Purenergy closes option, asset sale

2023-06-02 01:48 ET - News Release

Subject: HTC Purenergy Inc. PDF Document File: Attachment HTCAGGREGATESNR.pdf News Release June 1, 2023 For Immediate Release HTC Extraction Systems Announces Closing of Option and Asset Sale Regina, Saskatchewan HTC Purenergy Inc. (dba "HTC Extraction Systems") ("HTC" or the "Company") (TSX-V: HTC) (OTCQB: HTPRF). As an update to its May 15, 2023 press release, HTC is pleased to announce that it has closed the sale of the option agreement, selling its rights under the Kase Farma Inc. asset sale agreement. In addition, HTC has entered into an asset sale agreement dated May 31, 2023 ("ASA") with KF Aggregates Recycling Inc. ("Aggregates"), an arm's length party to HTC. Pursuant to the ASA, HTC is selling certain extraction equipment (the "Assets") to Aggregates, for the purchase price of $585,400 (the "Proposed Transaction"). Aggregates provided certain services and products, in the ordinary course of business, to HTC, which HTC has failed to make payment for, and therefore is indebted to Aggregates (the "Indebtedness"). Pursuant to the APA, HTC will transfer the Assets at the fair market value of approximately $585,400. The purchase price for the Assets ("Purchase Price") will be paid as follows: (i) by the set-off of the Indebtedness; (ii) the payment of $50,000 in cash at closing and (iii) the payment of the balance of $100,000 over 12 months. The Proposed Transaction has been approved by the board and directors, and no finder's fee is payable in respect thereto. 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 THE RELEASE. For more information contact: Jeffrey Allison HTC Extraction Systems Tel: 306-352-6132 E-mail: jallison@htcenergy.com HTC corporate developments can be followed on www.htcextraction.com and is traded under the symbol HTC. This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward- looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of HTC. Forward- looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the Corporation's ability to close the Proposed Transaction as set out herein, and the pursuit of hemp business opportunities. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by HTC and described in the forward-looking informatio n contained in this press release. Although HTC believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

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