Altai Responds to Mastro Capital’s Press Launch and Updates on Altai’s Enterprise
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TORONTO, Feb. 10, 2023 (GLOBE NEWSWIRE) — Altai Assets Inc. (ATI, TSX VENTURE; US SEC Rule 12g3-2(b) File # 82-2950) ( “Altai” or the “Firm”) responds to a press launch disseminated by Mastro Capital (“Mastro”, the President of which is John Mastromattei), a shareholder of the Firm.
Mastro’s press launch accommodates quite a lot of inaccurate statements with respect to the Firm’s steady disclosure file. The Firm categorically refutes Mastro’s allegations. The Firm has maintained its steady disclosure file and filings in accordance with securities and company legal guidelines and the foundations and insurance policies of the TSX Enterprise Change, in all materials respects. Additional, the annual assembly of shareholders has at all times been held in accordance with company and securities legal guidelines. The re-scheduling of the annual assembly of shareholders in December 2023 was unavoidable on account of a private emergency of a member of senior administration.
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Administration has obtained quite a lot of proposals from Mr. Mastromattei previously, all of which have been reviewed by the administrators of the Firm and decided to not be in the very best pursuits of the shareholders of the Firm. Administration continues to be accessible to assembly with Mr. Mastromattei to assessment different proposals.
When it comes to the Firm’s enterprise, Altai is continuous its declare within the Superior Courtroom of Quebec in opposition to the Minister of Power and Pure Assets of Quebec and the Quebec Authorities, as represented by the Legal professional-Basic for Quebec (collectively the “Defendants”) to defend the Firm’s rights and to hunt compensation from the Defendants for the illegal expropriation of its Quebec oil and fuel licences by the Defendants by the enactment of the 2022 Act ending exploration for petroleum and underground reservoirs and manufacturing of petroleum and brine, CQLR c R-1.01 (the “Act”). The Honourable Philippe Cantin, J.S.C. has been appointed as case administration decide to collectively handle the authorized proceedings filed by Altai and different holders of licences that equally contest the validity of the Act.
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The Firm has been working within the oil and fuel business in Quebec, Canada for greater than thirty years, has entered into a number of licence agreements, and has incurred huge expenditures within the exploration and growth of its oil and fuel licences, the entire, on the instigation of the Defendants and with their assurances that the rights of events to discover and exploit their discoveries can be revered.
As well as, Altai has participated in a multi-hole drill program on its 50% owned Malartic gold property within the Malartic space west of Val d’Or, Quebec, carried out by the property’s joint-venture companion and operator, Globex Mining Enterprises Inc. (which names the property as Blackcliff Gold Mine property). The drill program has now been accomplished. The operator is ready for all assay outcomes earlier than compiling all information and the technical report.
ABOUT ALTAI
Altai Assets Inc. is a useful resource firm with a producing oil property in Alberta and an exploration gold property in Quebec.
For additional data, please contact
Maria Au, Secretary-Treasurer
Tel: (416) 383-1328 Fax: (416) 383-1686
E mail: i[email protected] Web: http://www.altairesources.com
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
