Business
Whitemud Announces Graduation from NEX to TSX Venture
(via TheNewswire) Calgary, AB - TheNewswire - October 10, 2019 - Whitemud Resources In...
About this update from Whitemud Resources, Inc. Class A
[{"type":"text","content":"Whitemud Announces Graduation from NEX to TSX Venture(via TheNewswire)\n \n \nCalgary, AB - TheNewswire - October 10, 2019 - Whitemud Resources Inc. (\"Whitemud\" and the \"Company\") (NEX:WMK.H) is pleased to announce that the TSX Venture Exchange has provided acceptance for Whitemud's graduation from NEX to Tier 2 of the Exchange and reclassification as an Industrial Issuer. The graduation will become effective at market open on Tuesday, October 15, 2019 when the Company's listing will transfer from NEX to TSX Venture.\n\n \n \nWhitemud has prepared a Filing Statement in connection with its application for graduation and reclassification which is available under the Company's SEDAR profile at www.sedar.com. Upon receipt of final acceptance from the Exchange the Company will be reclassified as a Tier 2, Industrial Issuer.\n\n \n \nThe reclassification of the Company from a Mining Issuer to an Industrial Issuer is a result of the growth of the Company's liquefied petroleum gas business segment (the \"LPG Business\") through Whitemud's petroleum product marketing division, Midstream Energy Partners. The Company's LPG Business has been under development since the fourth quarter of 2015 when Whitemud created the Midstream Energy Partners division in an effort to diversify its business.\n\n \n \nGoing forward the Company will continue to operate the LPG Business, which consists of buying and selling propane and butane through physical deliveries and by inventory transfer by conducting buy/sell marketing transactions. In the future, the Company may also commence marketing activities in all types of commodities and engage in all activities ancillary thereto including, but not limited to, the storage, logistics and transportation of physical commodities.\n\n \n \nThe Company intends to grow its LPG Business and anticipates that future expenditures related to the LPG Business will be financed out of current cash balances and cash flow provided by operating activities. No financing has been or will be conducted in connection with the Company's graduation as a Tier 2, Industrial Issuer nor will there be any changes to the number and percentage of securities of the Company issued and outstanding, the name of the Company or any other changes to Whitemud's constating documents.\n\n \n \nWith respect to Whitemud's existing kaolin and metakaol...