China Keli Announces Fourth Update of Delay in Filing Annual Financial Statements

Vancouver, British Columbia–(Newsfile Corp. – October 23, 2018) – China Keli Electric Company Ltd. (TSXV: ZKL) (the “Company“), announces today a fourth update on the status of the filing of its annual financial statements, management’s discussion and analysis, and the related officer certifications for the financial year ended April 30, 2018 (collectively, the “Annual Filings“). Due to the location of the Company’s business operations in China, the change in the Company’s auditors from Kreston GTA LLP to K.R. Margetson Ltd. in July of this year, and the pending sale of Creative Grace Limited (“Creative Grace“), the Company’s audit remains ongoing at this time. The Company is finalizing its audit and hopes to file the Annual Filings as soon as possible.

In addition, the Company is also preparing and finalizing its financial statements for the first quarter ended July 31, 2018, the management’s discussion and analysis thereto, and the related officer certifications (collectively, the “Q1 Filings“). The Company expects to file the Q1 filings concurrently with or shortly after the Annual Filings.

Pending the filing of the Annual Filings and the Q1 Filings, a management cease trade order has been issued by the British Columbia Securities Commission. The Company intends to follow the provisions of the Alternative Information Guidelines as set out in National Policy 12—203 — Management Cease Trade Orders, for as long as the Company remains in default, including the issuance of further by-weekly default status reports, each of which will be issued in the form of a press release. A general cease trade order may be issued as a result of the Company’s default status.

Finally, the Company continues to work towards the completion of the sale of Creative Grace. Final closing documentation are being finalized, and the Company intends to complete the sale of Creative Grace as soon as practicable.

About China Keli Electric Company Ltd.

China Keli Electric Company Ltd. specializes in the manufacturing and installation of electrical components and equipment, including pre-assembled mini substations, electrical controllers, pressurized and vacuumed switchgears and circuit breakers.

For further information, please contact:

CHINA KELI ELECTRIC COMPANY LTD.

Philip Lo, Chief Financial Officer
Tel. No.: (86) 13632 173732
Email: philip@zkl.cc

For further company information please access our website: www.zkl.cc

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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IIROC Trade Halt – East Coast Investment Grade Income Fund

Toronto, Ontario–(Newsfile Corp. – October 23, 2018) – The following issues have been halted by IIROC:

Company: 

East Coast Investment Grade Income Fund

TSX Symbol:

ECF.UN (All Issues)

Reason:

Pending News

Halt Time (ET)

15:15

   

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

Arctic Star Announces Management Changes

Vancouver, British Columbia–(Newsfile Corp. – October 23, 2018) – Arctic Star Exploration Corp. (TSXV: ADD) (“Arctic Star” or the “Company”) is pleased to report that Executive Chairman and Director Patrick Power, has been appointed as President and Chief Executive Officer. Scott Eldridge has resigned as President and Chief Executive Officer, and will remain with Arctic Star as a Director. In the new corporate structure, effective immediately, Mr. Power will assume all operational duties.

Patrick Power is a seasoned venture capitalist and financier with over 20 years of experience as a stock market professional and as director of public companies. Arctic Star benefits from Mr. Power’s wealth of experience as a savvy deal maker, an adept financier and as a results-driven leader of dynamic public companies. The company enjoys Mr. Power’s large network of contacts within the industry.

About Arctic Star

The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 193,700 Ha Exploration Reservation near the town of Kuusamo, in Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first finds in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap). Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.

ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.

Patrick Power, Chief Executive Officer
ppower@arcticstar.ca
+1 (604) 218-8772

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project transaction is a pre-eminent opportunity.

White Metal Options Little Joanna Gold Property, Northeast of Sokoman Iron, Central Newfoundland

Thunder Bay, Ontario–(Newsfile Corp. – October 23, 2018) – White Metal Resources Corp. (TSXV: WHM) (“White Metal” or the “Company”) is pleased to announce that the Company has entered into an option agreement (the “Option”) for a 100% interest in the Little Joanna Gold Property (the “Property”), Central Newfoundland. The Property is approximately 25 km northeast of the town of Glenwood, is accessible by resource roads that originate from either Glenwood or Birchy Bay, and comprises 280 claim units, covering 7,000 hectares. The Property is approximately 45 km northeast of the Moosehead Gold Project of Sokoman Iron Corp. (“Sokoman Iron”). Sokoman Iron recently announced their gold-bearing discovery hole (Sokoman Iron Corp. news release, dated July 24, 2018), reporting an assay result of 44.96 g/t Au over 11.90 metres (from 109.00 to 120.90 metres).

The Little Joanna property is a new high-grade gold discovery in an area with little known exploration. The main Little Joanna showing is a 25 to 31 cm wide compact quartz vein within a highly altered, carbonated sedimentary mélange of shale, conglomerate and siltstone. Hand trenching by the vendors exposed the vein for a couple of metres. Fine, visible gold is observed throughout the vein and selected grabs samples by the Vendor assayed up to 734 grams per tonne (g/t) gold (Au) (23 oz/ton Au); average sampling of the quartz vein is approximately 189 g/t Au (5.9 oz/t Au.). As much of the Property is covered by overburden, the Company believes that significant potential exists for the discovery of additional gold-bearing quartz veins.

In conjunction with the original Option of 27 claim units, White Metal subsequently staked an additional 253 claim units extending the Property to the northeast and southwest and covering historical work done by Noranda Exploration (1988-1989). Noranda reported up to 44g/t Au in boulder samples and outlined 1.15 g/t Au and 5.2 g/t Au basil till sample anomalies.

The Property is largely underlain by Early to Late Silurian siliciclastic sediments and lesser subaerial mafic and felsic volcanic rocks including the Silurian Botwood Group (Wigwam and Lawrenceton formations), similar to the geology and northeast-trending structures found on Sokoman Iron’s Moosehead gold project to the southwest.

To exercise the Option the Company is required to complete a series of cash payments totaling $170,000 and share issuances totalling 1,800,000 shares to the optionor of the Property (the “Optionor”) as follows: a) $15,000 and 300,000 shares upon receipt of regulatory approval; b) $25,000 and 300,000 shares on or before the first anniversary; c) $30,000 and 300,000 shares on or before the second anniversary; c) $40,000 and 400,000 shares on or before the third anniversary; and d) $60,000 and 500,000 shares on or before the fourth anniversary. The Optionor will retain a 2% Net Smelter Return Royalty (“NSR”) of which White Metal will have the right to purchase 1% for $1,000,000.00 and have the first right of refusal on the remaining 1%. The Option is subject to an advanced royalty payment of $7,000 per year, payable in cash or shares, after year 5 of the Option.

This Option Agreement is pending TSX approval.

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.

About White Metal Resources Corp. (TSXV: WHM):

White Metal Resources Corp. is a junior mineral exploration company exploring for gold in Canada. For more information in regards to White Metal Resources Corp. you can visit the company’s Web Page at www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

“Jean-Pierre Colin”
Jean-Pierre Colin, President, CEO and Director

For further information contact:
Jean-Pierre Colin
President, CEO & Director
White Metal Resources Corp.
(416) 573-4300
Jpcolin.whitemetal@gmail.com

or

Michael Stares
Director
White Metal Resources Corp.
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836   Fax (807) 475 7200

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Japan Gold Announces Strategic Alliance to Explore Four Prospective Lithocap Projects

Vancouver, British Columbia–(Newsfile Corp. – October 23, 2018) – Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (“Japan Gold” or the “Company“) is pleased to announce that it has entered into a binding letter agreement (“Letter Agreement“) with First Quantum Minerals Ltd. (TSX: FM) (“FQML“) to explore four of its prospective lithocap projects (collectively, the “Lithocap Projects” and each a “Project“) located on the islands of Hokkaido, Honshu and Kyushu, Japan. The Lithocap Projects represent exploration targets for shallow-level epithermal gold and deeper porphyry copper-gold deposits. Pursuant to the terms of the Letter Agreement, FQML has committed to manage and oversee a systematic surface exploration reconnaissance program on each Project prior to June 30, 2019.

John Proust, Chairman and CEO of Japan Gold, commented: “We are delighted to partner with a company with First Quantum’s international reputation, exploration, development and production expertise and financial capability to advance four of our highly prospective gold and copper-gold exploration targets in Japan. We believe this to be a first of many validating events for our pioneering efforts to re-establish Japan as a major mining jurisdiction. Separately, Japan Gold’s portfolio includes an additional twelve epithermal gold projects focused on the islands of Hokkaido and Kyushu, all of which sit within historic mining districts. Taken together, we believe that the Company is in an excellent strategic position in Japan, and we heartily welcome First Quantum as a partner.”

The Projects included in the Letter Agreement are the Eboshi, Kobui, Minamikayabe and Kamitsue projects, which collectively cover a land area of 11,830 hectares (“ha”), refer to Figure 1 which shows Japan Golds lithocap projects on the islands of Hokkaido, Honshu and Kyushu.

FQML will immediately commence work on initial exploration programs at each of the Projects, which will consist of reconnaissance field work, mapping, soil and rock sampling, and targeted geophysics. FQML personnel will be working directly alongside Japan Gold, who will remain as operator during this initial program at each of the Projects.

Option Summary

Upon completion of the initial exploration program, as defined by a specific scope of work on each of the four Projects, FQML will have the option to enter into a formal earn-in agreement (“Option Agreement“) on any Project individually, pursuant to which FQML may earn-in to 51% of a Project by completing a minimum of US$5 million in total exploration expenditures prior to June 30, 2022. For any project that FQML options it will endeavour to maintain minimum average annual expenditures of US$1 million per year during the initial earn-in period.

Upon earning a 51% interest in a Project, FQML would have the right to earn an additional 29% interest in a Project by solely funding the Project until FQML makes a “Decision to Mine”, increasing FQML’s ownership in a Project to 80%.

Lithocap Project Summaries

The Eboshi project comprises nine contiguous prospecting rights totaling 3,080 ha, located near the coastal town of Noheji in northern Honshu, Japan. The project area contains a large, exposed advanced-argillic lithocap, one of several identified along the Northeast Japan Arc by government funded regional metallogenic surveys conducted in the 1980’s and 1990’s.

The Kobui project comprises eight contiguous prospecting rights applications totaling 2,738 ha, located in the Kameda Peninsula of southwestern Hokkaido. The project area contains two large advanced-argillic lithocaps separated by a younger andesitic volcanic dome.

The Minamikayabe project comprises six contiguous prospecting rights applications totaling 1,943 ha also on the Kameda Peninsula of southwestern Hokkaido. Targets include high level epithermal gold systems, and deeper potential porphyry targets associated with two broad advanced-argillic lithocaps.

The Kamitsue project comprises twelve contiguous prospecting rights applications totaling 4,069 ha, located near the town of Kikuchi in northern Kyushu. A large area of advanced argillic alteration was identified by the Company in 2018 during reconnaissance programs around historically prospected gold bearing quartz veins.

Advisors

Haywood Securities Inc. is acting as financial adviser to Japan Gold in connection with the transaction. Morton Law LLP is acting as legal counsel to Japan Gold.

On behalf of the Board of Japan Gold Corp.

“John Proust”

Chairman & CEO

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration in Japan. The Company has applied for 210 prospecting rights licenses in Japan for a combined area of 69,505 hectares over seventeen separate projects. Forty-one of the applications have been granted as Prospecting Rights. The applications cover areas with known gold occurrences and a history of mining and are prospective for both high-grade epithermal gold mineralization and gold-bearing lithocaps, which could indicate the presence of porphyry mineralization. Japan Gold’s leadership team has decades of resource industry and business experience, and the Company has recruited geologists and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com.

About First Quantum Minerals Ltd.

First Quantum Minerals Ltd. is a leading and fast-growing copper company founded more than 20 years ago with a strong conviction in the long-term fundamentals for copper. Beginning with the 1996 purchase of the Bwana Mkubwa Mining License in Zambia, to reprocess tailings from past mining activities, First Quantum’s assets and operations now span nine countries and five continents. Today, First Quantum is one of the world’s top ten copper producers. In 2017, First Quantum recorded the highest copper production in its history at 573,963 tonnes in addition to 199,736 ounces of gold and 17,837 tonnes of nickel. First Quantum’s rapid growth is set to continue with the ramp-up of the massive Cobre Panama project beginning in late 2018.

Japan Gold Contact

John Proust
Chairman & CEO
Phone: 778-725-1491
Email: info@japangold.com

Cautionary Note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The technical information in this news release has been reviewed by Japan Gold’s President & Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, who is a Qualified Person as defined by National Instrument 43-101. As the Qualified Person, he has supervised the preparation and approved the scientific and technical disclosure in the news release.

This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company’s ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.


Figure 1: Japan Gold Lithocap and Low-Sulphidation Epithermal Gold Projects

To view an enhanced version of Figure1, please visit:
[http://orders.newsfilecorp.com/files/5665/40565_a1540310751245_63.jpg]

SEC Announces $23.8 Million Settlement with the Self-Proclaimed “Frack Master”

Washington, D.C.–(Newsfile Corp. – October 23, 2018) – The Securities and Exchange Commission today announced it has agreed to a settlement with Christopher A. Faulkner—the self-proclaimed “Frack Master”—in connection with his wide-ranging securities-fraud scheme that raised over $80 million from hundreds of investors nationwide. Faulkner has simultaneously entered into a plea agreement relating to the same misconduct under which he will serve 12 years in federal prison for securities fraud, money laundering, and tax evasion.

According to the SEC’s June 2016 complaint, Faulkner systemically deceived investors across the country by disseminating false and misleading offering materials, misappropriating millions of dollars of investor funds, and manipulating the stock of Breitling Energy Corporation (BECC), a publicly traded company Faulkner controlled.  Faulkner started the scheme in 2011 through privately held Breitling Oil and Gas Corporation (BOG), which offered and sold “turnkey” oil-and-gas working interests to investors using a team of commissioned cold-callers. As part of these offerings, Faulkner lied to investors about his experience, the drilling-cost estimates for the prospects, and the use of their invested funds. Over time, the scheme evolved to include BOG’s successor, BECC and two affiliated entities that he secretly controlled, Crude Energy LLC and Patriot Energy Inc. Faulkner, with the assistance of others, used these entities to raise more than $80 million and then he misappropriated approximately $23.8 million to fund his lavish personal lifestyle. The SEC also charged 11 other individuals and entities for their roles in the misconduct, reaching settlements with a majority of them.

In August 2017, on an emergency motion filed by the SEC, the court froze Faulkner’s assets and placed them, as well as BECC and BOG, under the control of a court-appointed receiver due in part to Faulkner’s continued misappropriation of investor funds. The court also preliminarily enjoined Faulkner and the two companies from violating antifraud provisions of the federal securities laws. A month later, the Commission obtained emergency relief against Faulkner and others for a separate offering fraud in California involving real estate. 

“Faulkner first proclaimed himself the ‘Frack Master’ in order to deceive investors about his expertise and steal millions of dollars to fund his lifestyle, and the SEC put an early end to his second effort to defraud investors in a real estate scheme,” said Shamoil T. Shipchandler, Director of the SEC’s Fort Worth Regional Office. “Today’s serious civil and criminal sanctions serve as a warning to anyone who intends to target retail investors.” 

Under the agreed final judgment, which is subject to court approval, Faulkner would be ordered to disgorge $23.8 million; permanently enjoined from violating various provisions of the federal securities laws and from participating in any unregistered securities transactions; and barred from serving as an officer or director of any SEC-reporting company and from participating in any offering of a penny stock.

The SEC’s litigation has been handled by B. David Fraser, Scott F. Mascianica and Timothy S. McCole, and supervised by Eric R. Werner. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Northern District of Texas.

Smartcool’s Total Energy Concepts (TEC) Energy Savings Solutions Installed at a Metal Fabrication Shop and Grocery Store

Solutions Include Smartcool, Power Factor Correction and Nano LiquiTec(TM)

Vancouver, British Columbia–(Newsfile Corp. – October 23, 2018) – Smartcool Systems Inc. (TSXV: SSC) (OTC Pink: SSCFF) (FSE: R3W) is pleased to announce that its wholly-owned subsidiary, Total Energy Concepts (TEC) has successfully installed a number of solutions at a metal fabrication business and a grocery store. Both of these businesses have multiple locations and should result in additional installations. Total sales for these initial two locations exceeded $100,000 USD.

Upon completion of a comprehensive energy audit, a number of energy efficiency technologies were recommended and implemented, with expected savings of greater than 15% of the total energy costs. TEC installed the Smartcool’s technology as well as TEC’s propriety Power Factor Correction (PFC) technology, Voltage Conditioning Units (VCU), LED lighting and Nano LiquiTec™.

PFC’s are a proprietary engineered product manufactured by TEC, that reduces energy consumption at the device level by improving the power factor at large inductive loads such as electric motors and compressors.

Nano LiquiTec is a breakthrough synthetic catalyst with graphene and nanotechnology, engineered to create nano-convection for enhanced heat transfer by removing oil fouling, which generates energy saving of up to 40% of the HVAC or refrigeration system.

Damian Smith, CEO of Total Energy Concepts commented: “These two businesses are representative of the types of customers we assist with our holistic approach to energy efficiency. They join the over 5,000 installations that TEC have completed in the last 15 years. By combining a number of energy solutions we are able to achieve greater economic benefits for our customers. We’re looking forward to assisting these two customers in their other locations.”

About Smartcool

Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3, ESM and ECOHome are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%.

Total Energy Concepts (TEC) is a national leader in Power Protection, Energy Management, Power Quality, Facility Grounding, and Lighting Solutions that help companies improve their bottom line by reducing expenses that drastically cut into company profits. TEC focuses on a holistic approach to energy efficiency with proprietary technologies for power factor correction and third party technologies including LED, voltage conditioning and intelligent motor controls.

For more information please visit www.smartcool.net and http://totalenergyconcepts.com.

For further information
WEB:
www.smartcool.net and www.smartcooleco3.com
EMAIL:
info@smartcool.net

Investor inquiries
Mike Kordysz
Vice President, Investor Relations
TEL:
+1 604 904 8632
EMAIL: mike.kordysz@smartcool.net

Legal Notice Regarding Forward Looking Statements

This news release contains “forward looking statements”. Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as “expect”, “anticipate“, “intend“, “plan”, “believe”, “estimate” and words of similar meaning. Forward-looking statements are based on management’s current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the company’s belief in the growth opportunities in the USA. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company’s website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.