CORRE Announces RTO Termination

TORONTO, Dec. 22, 2020 /CNW/ - Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX-V: CVR) ("CORRE") announces that, mainly due to changes in economic conditions and financial positions as a result of the COVID-19 pandemic, its previously announced proposed reverse take-over transaction with Avant Imaging & Integrated Media Inc. ("AIIM") has been terminated and will not be proceeding.

Forward Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.  Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

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SOURCE Canadian Oil Recovery & Remediation Enterprises Ltd.

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