Gen III hires Blue Deer Capital Partners and provides general update
VANCOUVER, British Columbia, Nov. 18, 2020 (GLOBE NEWSWIRE) — Gen III Oil Corporation (“Gen III” or the “Company”) (TSX-V: GIII) (OTCQX: ISRJF) is pleased to announce that effective November 18, 2020 the Company has hired Blue Deer Capital Partners (“Blue Deer”) for an initial term expiring December 31, 2021, to provide non-exclusive financial advisory services for a monthly fee. The Company has also agreed to issue 1,000,000 fully vested options to Blue Deer, with an exercise price of $0.30/share, valid for a period of 18 months.
Further to the Company’s announcement on November 5, 2020, Gen III continues to work with the Super Major (“SM”) towards completion of the Definitive Agreement and the SM has also begun assisting the Company with its review of suitable re-refinery sites in the US Gulf Coast region.About Blue DeerBlue Deer is an Exempt Market dealer headquartered in Toronto, Canada. Blue Deer provides advisory services to clients in a diverse set of industries including sustainable and renewable energy, technology and media, fintech, medical devices, hospitality and real estate.About Gen IIIGen III is first and foremost a cleantech company, that is building a sustainable green project that has compelling economics, without government subsidies. Gen III owns a portfolio of patented technologies that enable used motor oil (“UMO”) re-refineries to produce a higher value product mix of base oils than traditional methods, including 55% Group III. For more information about the Company, please visit www.geniiiesg.com.On Behalf of the Board of Gen III Oil Corporation“Greg Clarkes”
Chief Executive OfficerFor further information, contact Mark Redcliffe at (778) 668-5988Neither 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.Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the use of proceeds of the Offering, the term extension for the September Warrants and any statements regarding the Company’s business plans, expectations and objectives. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking information. Forward looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company’s profile and on the Company’s website, https://www.geniiiesg.com/. The forward-looking information set forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.