Newton Energy Corporation Announces Termination of Letter of Intent for a Proposed Reverse Takeover Transaction

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CALGARY, Alberta, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Newton Energy Corporation (TSXV:NTN.H) (the “Company” or “Newton”) announces that it has entered into a termination agreement with respect to the non-binding letter of intent with Verano Holdings, LLC previously announced on December 4, 2018. The Company continues to pursue opportunities for a potential acquisition.

ON BEHALF OF THE BOARD

NEWTON ENERGY CORPORATION

Gino DeMichele

President and Chief Executive Officer

Phone: (403) 680-7898

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DISCLAIMER FOR FORWARD-LOOKING INFORMATION

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe’’ or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the completion of the Proposed Transaction, the listing of the shares of the Resulting Issuer on the CSE and the anticipated business plan of the Company subsequent to completion of the Proposed Transaction. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company assumed no obligation to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.