Advertisement
Canada markets open in 4 minutes

  • S&P/TSX

    21,885.38
    +11.66 (+0.05%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CAD/USD

    0.7318
    -0.0005 (-0.07%)
     

  • CRUDE OIL

    84.25
    +0.68 (+0.81%)
     

  • Bitcoin CAD

    87,144.83
    +897.28 (+1.04%)
     

  • CMC Crypto 200

    1,382.84
    -13.69 (-0.98%)
     

  • GOLD FUTURES

    2,358.50
    +16.00 (+0.68%)
     

  • RUSSELL 2000

    1,981.12
    -14.31 (-0.72%)
     

  • 10-Yr Bond

    4.6650
    -0.0410 (-0.87%)
     

  • NASDAQ futures

    17,713.25
    +145.75 (+0.83%)
     

  • VOLATILITY

    15.45
    +0.08 (+0.52%)
     

  • FTSE

    8,119.40
    +40.54 (+0.50%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6827
    +0.0006 (+0.09%)
     
MARKETS LIVE BLOG:

STOCK FUTURES JUMP, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Point Loma Resources Announces the Cessation of Operations

ACCESSWIRE

CALGARY, AB / ACCESSWIRE / May 19, 2020 / Point Loma Resources Ltd. (PLX.V) (the "Corporation" or "Point Loma") announces the cessation of all operations effective May 21, 2020. The board of directors, after extensive and careful consideration, have determined that Point Loma's business is no longer viable. In the present economic environment, Point Loma has been unable to refinance or recapitalize its business, and the Corporation, therefore, no longer has the financial capability to carry on its operations.

Point Loma has notified the Alberta Energy Regulator, the Saskatchewan Ministry of Energy and Mines ("the regulators") and will be working with the regulators for an orderly and safe shut-down of operations.

As a result of the foregoing, Point Loma announces that the directors will resign and the officers will be terminated on May 21, 2020.

For further information, please contact:

ADVERTISEMENT

Terry Meek
President and CEO
Telephone: (403) 705-5051 ext. 444
tmeek@pointloma.ca

Thomas Love
VP Finance and CFO
Telephone: (403) 705-5051 ext. 443
tlove@pointloma.ca

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.

SOURCE: Point Loma Resources Ltd



View source version on accesswire.com:
https://www.accesswire.com/590290/Point-Loma-Resources-Announces-the-Cessation-of-Operations