TORONTO, ON / ACCESSWIRE / June 7, 2024 / Clean Energy Transition Inc. (formerly Rogue Resources Inc.) (TSXV:TRAN) ("transition.inc" or the "Company") is pleased to announce that it has completed the final steps in its previously announced pivot to a new focus, looking for opportunities broadly across the energy transition. Inline with that pivot the Company has developed a basic website- transition.inc, through which we will share information with investors and other stakeholders as our businesses develop.
Management plans to post a Corporate Update to www.transition.inc at 5pm Eastern time on June 12th, 2024. Investors and/or other stakeholders are encouraged to send questions in advance, via the submission form on transition.inc.
In addition, the Company has completed two transactions. In May the Company returned the Bobcaygeon Quarry (not operating) to the original vendor from whom the asset was acquired in 2019. Related to this disposition, the Company's $700,000 Vendor Mortgage has been discharged. In combination with the sale of the Orillia Quarry (see News Release dated February 23, 2024) this marks the end of the Rogue Stone business. Today the Company closed on the acquisition of an Ontario mining lease for $150,000 in cash consideration and should a feasibility study compliant with National Instrument 43-101 Standard of Disclosure for Mineral Projects be filed, the Company will subsequently issue 1M shares and provide a 1% net smelter return royalty to the vendor. The Transaction constitutes an "Expedited Acquisition" in accordance with Policy 5.3 of the TSXV.
About Clean Energy Transition Inc.
Clean Energy Transition Inc., or transition.inc is focused on opportunities to generate positive cash flow, across the energy transition. The Company includes a Quartz division- focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec. The silica in high-quality quartz can be used to make silicon metal, a key component in solar energy panels.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects", "intends", "plans", "may", "will", and similar expressions. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.
Contact Information
For further information, visit www.transition.inc
Or contact: Sean Samson, President & CEO at:
Clean Energy Transition Inc.
200 - 150 King St. W.
Toronto, ON M5H 1J9
(647) 243-6581
info@transition.inc
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 of this release.
SOURCE: Clean Energy Transition Inc.
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