The Company announced that is has terminated its asset purchase agreement with All Nations Cannabis Corporation effective August 20, 2021.

ALchemist Mining Inc. (AMS-X:AMS-X)

VANCOUVER, BC, CANADA, August 23, 2021 /EINPresswire.com/ -- Alchemist Mining Inc. (CSE: AMS-X) (“AMS” or the “Company”) today announced that is has terminated its amended and restated asset purchase agreement (the “Agreement”) with All Nations Cannabis Corporation (“All Nations”), effective August 20, 2021 (the "Effective Date").

The Company was granted conditional approval from the CSE for the transactions contemplated under the Agreement (the “Transactions”) on June 18 2021. However, on August 14, 2021, the Company was advised by All Nations that various conditions precedent to completion of the Transactions had not been satisfied and that All Nations was not confident when such conditions precedent would be satisfied. Upon receipt of this communication, the Company considered its options carefully and ultimately elected to terminate the Agreement.

“We are very disappointed with the sequence of events. Although we feel that the partnership with Alchemist and All Nations would have been a very fruitful one, recent events have led us to believe that pursuing such a partnership would not have been in the best interest of the shareholders of the Company. Accordingly, we have terminated the Agreement and will refocus our efforts on other opportunities. The Company will be issuing further guidance on its go forward strategy shortly,” said Paul Mann, the company’s President & CEO.

On Behalf of the Board,
Paul Mann, CEO
Alchemist Mining Inc.

For further information on this release, please contact:
Investors@alchemistinc.ca
604-601-2093

About Alchemist Mining Inc.
Alchemist’s goal is to be a global provider of technology solutions to the cannabis sector. We are primarily focused on investing and building a sustainable portfolio of business entities, by actively identifying opportunities in the developing global cannabis market, through a combination of acquisitions, incubations and investments, with a goal to create shareholder value.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward Looking Statements
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intends”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including: that the Company refocus its efforts on other transactions; that the Company will provide an update on its go forward strategy shortly; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company’s competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company’s control. Additional risk factors are included in the Company’s Management’s Discussion and Analysis, available under the Company’s profile on www.sedar.com.

The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

Sukh Sandhu
ALchemist Mining Inc
+1 844-420-2254
Investors@alchemistinc.ca