AM Resources Announces Completion of the Esperanza Acquisition and Management Change

MONTREAL, May 31, 2019 /CNW/ - AM Resources Corp. (TSXV: AMR) (Frankfurt: 76A) is pleased to announces it closed its previously announced non-arm's length acquisition of a 60% indirect interest in the La Esperanza asphaltite property in consideration of the issuance of 4,700,000 common shares (the "Acquisition").

"We are really pleased to have finally cleared all regulatory hurdles and to be now focusing on developing La Esperanza, which is a perfect strategic extension of our Rio Negro project. We believe that this acquisition should be immediately accretive to earnings, and will allow us to undertake our crossover into precious metals", said Adriana Rios Garcia, Interim President and CEO of AM.

Management Change

The Corporation also announces that Ms. Adriana Rios Garcia, COO, has been appointed interim President and CEO, effective May 30, 2019, taking the place of Dominic Voyer, who resigned as President and CEO but will remain a director of the Corporation.

The Corporation expresses its appreciation to Mr. Voyer for his service to the Corporation and wishes him success in his future endeavours.

All securities issued in connection with the Acquisition will be subject to a statutory hold period until October 1, 2019.

ABOUT AM RESOURCES CORP.

AM Resources Corp. is a mining exploration Corporation with interests in coal and natural bitumen projects in Colombia. AM is betting on Colombia's excellent mineral potential and favourable climate to pursue its new Colombian venture. The Corporation is also engaged in gold brokerage activities in Colombia through its subsidiary, AM Resources Trading Corp.

Neither 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.

www.am-resources.com

 

SOURCE AM Resources Corp.

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