VANCOUVER, British Columbia , Nov. 10, 2020 (GLOBE NEWSWIRE) -- Molystar Resources Inc. (“Molystar” or the “Company”), Delic Corp. (“Delic”), a Delaware-incorporated psychedelic-focused media, e-commerce and event company, and Eception Ventures Ltd. (“Eception”) are pleased to confirm, further to Molystar’s press releases dated October 21, 2020 and August 31, 2020 (the “Previous Press Releases”), conditional listing approval to list the subordinate voting shares of the Company (the “Shares”) on the Canadian Securities Exchange (the “CSE”) has been received.
The listing is subject to the Company fulfilling certain conditions of the CSE in accordance with the terms of its conditional acceptance letter, including the closing of the business combination (the “Proposed Transaction”) among Molystar, Delic and Eception that will result in a reverse takeover of Molystar by the security holders of Delic (as further described in the Previous Press Releases).
Upon receipt of final listing approval, the Shares will trade under the ticker symbol “DELC”. The date on which the Shares will commence trading on the CSE is expected to be on or about November 18, 2020.
Delic Corp.
Delic was formed in 2019 to address the growing interest in psychedelic science. Delic was the first psychedelic umbrella media platform and is currently a trusted source for those interested in psychedelic science. Delic’s offerings include “The Delic”, an e-commerce lifestyle brand, “Reality Sandwich”, a free public education platform providing psychedelic guides, news and culture and “Meet Delic”, a proposed biannual psychedelic wellness summit.
Eception Ventures Ltd.
Eception’s principal business activity is the identification and evaluation of companies, assets or businesses with a view to completing a business combination transaction.
Molystar Resources Inc.
Molystar’s principal business activities have historically been the exploration of mineral resource properties. All of Molystar’s properties were sold or abandoned during 2010 and Molystar currently has no business operations nor generates any operating income or positive cash flow.
Investors are cautioned that, except as disclosed in press releases issued by Molystar, information with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.
All information contained in this news release with respect to Delic was supplied by Delic for inclusion herein and Molystar has relied on the accuracy of such information without independent verification.
As noted above, completion of the Proposed Transaction is subject to a number of conditions, including but not limited to listing on the Canadian Securities Exchange of the Subordinated Voting Shares. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in press releases issued by Molystar, information with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Molystar’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ”plans”, ”expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, ”anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, ”will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the Proposed Transaction, expectations regarding whether the Proposed Transaction will be consummated, including whether conditions to the consummation of the Proposed Transaction will be satisfied, expectations for the effects of the Proposed Transaction or the ability of the combined company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, Molystar is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Molystar to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Molystar has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability to consummate the Proposed Transaction; the ability to obtain requisite regulatory and securityholder approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction on the proposed terms and schedule; the ability to satisfy the conditions to the conversion of the Subscription Receipts (as defined in the Previous Press Release); the potential impact of the announcement or consummation of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Proposed Transaction.
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although Molystar believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Molystar does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to Molystar or persons acting on its behalf is expressly qualified in its entirety by this notice.
Jackee@thedelic.com - Jackee Stang, President and CEO
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