Logan Resources and Voleo Announce TSX Venture Conditional Approval of Transaction

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[{"type":"text","content":"Logan Resources and Voleo Announce TSX Venture Conditional Approval of TransactionVancouver, British Columbia--(Newsfile Corp. - May 16, 2019) - Logan Resources Ltd. (TSXV: LGR) (the \"Company\" or \"Logan\") is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the \"Exchange\") for the business combination of Voleo, Inc. (\"Voleo\") and Logan (the \"Transaction\"). Logan and Voleo intend to close the Transaction during the week of May 27, 2019. A further press release will be issued announcing the final closing date and the scheduled date for resumption of trading of the Company's common shares.The Exchange has confirmed that based on the Company's current situation, as per Section 4.1 of Policy 5.2 of the Exchange Corporate Finance Manual, the Company is without active operations and will not be required to get shareholder approval for the Transaction. Specifically, Logan has disposed of all of its mineral properties, except for the Redford Property, has solely focused on completing the Transaction since January 2018 and will not return to active operations based on its remaining mineral property asset.In addition, the Transaction is arm's length; the Company is not and will not be subject to a cease trade order and will not otherwise be suspended from trading on completion of the Transaction; and shareholder approval of any aspect of the Transaction is not otherwise required under applicable corporate laws and is not required under applicable securities laws.As of April 30, 2019, Logan and Voleo had a consolidated working capital of $3.65 million after giving effect to the Offering and shares to be issued to settle certain amounts payable upon closing the Transaction and excluding Transaction costs. Cautionary StatementsThe Transaction remains subject to the final acceptance of the Exchange and other conditions customary for a transaction of this nature. There can be no assurance that the Transaction will be completed as proposed or at all. Additional information as required can be found in the Logan Management Information Circular dated May 30, 2018 (the \"Information Circular\"), the Short Form Prospectus dated April 17, 2019 (the \"Prospectus\") and documents incorporated by reference therein and available on SEDAR at www.sedar.com or will be provided by way of a subsequent news r...

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