Brunswick Resources Inc.: Resume Trading and Transfer to NEX

ROUYN-NORANDA, Quebec, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Brunswick Resources Inc. (the “Company” or “Brunswick”) (TSX-Venture Exchange: BRU) announces that effective on November 6, 2020, Brunswick Resources Inc. stock’s exchange listing will be transferred from the TSX-V’s to the NEX board as a result of the Company’s failure to meet the Continued Listing Requirements as a Tier 2 issuer on the TSX-V..

Brunswick Resources’ trading symbol will change from “BRU” to “BRU.H”. There will be no change in Brunswick Resources’ name, no change in its CUSIP number and no consolidation of capital. As of November 6, 2020, the Company will be subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The NEX board has been designed to provide a forum for the trading of publicly listed companies while they seek and undertake transactions in furtherance of their reactivation as companies that will carry on an active business.

The common shares of Brunswick Resources will resume trading shortly. A trading halt has been in place since March 4, 2019 as a result of the announcement of the proposed reverse takeover (RTO) transaction with CBIO Brand Development Inc. As announced on November 12, 2019, the RTO transaction was terminated.

Further to the press release dated January 11, 2019 announcing the sale of the Irene Lake Project, the Company announces that the agreement with the buyer has not been respected since the buyer has not paid the consideration of $75,000 as was agreed upon. The Company is currently negotiating with the buyer to enter into a new agreement for the sale of the Irene Lake Property for a similar consideration. As soon as the Company reaches an agreement with the buyer, Brunswick will file a submission with the Exchange to get approval for the transaction. .The Irene Lake is currently the only asset of the Company.

Management of the Company is continuing to explore new business opportunities with a view of maximizing shareholder value of the Company.

Brunswick Resources Inc.

Brunswick is a TSXV listed company that has been engaged in mineral exploration. It was incorporated under the provisions of the Business Corporations Act (Alberta) with its head office in Rouyn-Noranda, Quebec. Brunswick is a "reporting issuer" in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.

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Brunswick Resources Inc. is a publicly listed company trading on the TSX Venture Exchange (BRU).

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements relating to the Proposed Transaction, including statements regarding timing for closing of the Private Placement, the receipt of all necessary regulatory and other approvals and satisfaction of all other closing conditions in connection with the Proposed Transaction and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the Proposed Transaction will not be completed or that the necessary approvals and/or exemptions are not obtained or some other condition to the closing of the Proposed Transaction will not be satisfied; the risk that closing of the Proposed Transaction could be delayed if Brunswick and CBIO are not able to obtain the necessary approvals on the timelines planned; the risk that the Private Placement will not be completed, the timing of obtaining required approvals, closing conditions for the Proposed Transaction, state of the economy in general and capital markets in particular, investor interest in the business and future prospects of Brunswick and CBIO.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, Brunswick and CBIO disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Brunswick and CBIO undertake no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.