Montauk Metals Provides Corporate Update

4 hours ago 1

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The Company has entered into negotiations with various creditors for the settlement of outstanding debt which could include the settlement of shares for debt, subject to TSX Venture Exchange approval. In addition, the Company is currently engaged in a strategic review of its operations and business, with the goal of attracting strategic partners for the re-capitalization and restructuring of the Company.

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Montauk Metals Inc.
Michael Sutton
Director
800-761-2770

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Cautionary Note Regarding Forward-Looking Statements: Certain statements contained in this news release constitute “forward-looking statements” as such term is used in applicable Canadian and US securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as “forward-looking statements”. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements in this press release include, without limitation, statements regarding the Company’s ability to complete its Required Filings, the issuance of cease trade orders, the outcome of the strategic review process, the potential for the Company to undertake bankruptcy or insolvency proceedings, the potential for shareholder value recovery, and the Company’s financial position.

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Forward-looking statements reflects the Company’s current expectations and are based on a number of assumptions, factors and expectations that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial and regulatory uncertainties and contingencies. These assumptions include, without limitation, expectations regarding the Company’s ability to manage its liabilities, access third-party support, conduct asset sales or restructuring initiatives, and the timing and outcome of regulatory processes. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, events or developments to differ materially from those expressed or implied in such forward-looking information, including without limitation: the Company’s inability to complete its Required Filings; the imposition of trading halts, cease trade orders and other regulatory penalties; the failure to identify viable strategic alternatives; the failure to obtain creditor or stakeholder support for restructuring initiatives; risks associated with bankruptcy or insolvency proceedings; risks of claims by creditors and other stakeholders; and general risks affecting the mining industry and broader economic conditions.

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There can be no assurance that the Company will be successful in completing a sale, restructuring, bankruptcy proceeding or any other strategic alternative, or that any such alternative will provide any value to shareholders. As a result, investors should not place undue reliance on any forward-looking information. All forward-looking information in this press release is made as of the date hereof, and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this press release. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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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.

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