Refined Energy Corp. Announces Extension of Marketing Program and Proposed Debt Settlement

/EIN News/ -- VANCOUVER, British Columbia, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU | OTC: RFMCF | FRA: CWA0) ("Refined” or the "Company") is pleased to announce, further to its news release on November 1, 2024, that it has extended the term of its engagement of Rumble Strip Media Inc. (“Rumble Strip”) (email: info@rumblestrip.ca; address: Unit 893, 250-997 Seymour Street, Vancouver, British Columbia) for the provision of marketing services for an anticipated period of 90 days commencing on or about February 7, 2025, provided that the term of the marketing services may be extended or shortened at the discretion of management depending on, amongst other things, the efficiency of the marketing services.

As previously disclosed, Rumble Strip has and will continue to create content and advertisements and undertake media planning, social media news dissemination, and reporting. The Company will pay a fee of CAD $500,000 (plus GST) for the extension. The Company will not issue any securities to Rumble Strip as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, Rumble Strip (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company.

The Company also announces that it intends to settle outstanding debt owed to Independent Trading Group (ITG) Inc. (“ITG”) in an amount of $11,429.21 through the issuance of 22,677 common shares in the capital of the Company (at a deemed price of $0.504 per common share) to ITG. Any common shares issued to ITG as part of the debt settlement will be subject to a statutory four month and one day hold period in accordance with applicable Canadian securities laws. The debt settlement is subject to acceptance by the Canadian Securities Exchange, and is expected to close on or about February 10, 2025.

About Refined Energy Corp.

Refined Energy Corp. is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. The Dufferin Project in the Athabasca Basin is the flagship project of Refined and a drill program is planned for the spring of 2025. Refined also has an option to earn up to a 100% interest in the Basin and Milner uranium properties in Saskatchewan. The Company continues to review other mineral properties in North America for possible acquisition in the future.

For further information, please contact:

Phone: (604) 398-3378
Email: Info@refinedenergy.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the expected commencement date and term of the marketing activities contracted for by the Company and the debt settlement, including the closing and the anticipated closing date thereof.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the start date and length of the Company’s promotional program and the Canadian Securities Exchange’s acceptance of the Company’s promotional program, the assumption that the Canadian Securities Exchange will accept the terms of the debt settlement and the assumption that the debt settlement will proceed as currently anticipated on the timing currently anticipated.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, that the budget for the Company’s marketing program may not be sufficient to permit the marketing activities to continue for the anticipated term; that the Canadian Securities Exchange may object to the Company’s promotional program and use its discretion to halt the Company’s promotional activities or impose other penalties on the Company; and that the debt settlement does not close on the timeline expected, or at all, including as a result of the failure to receive the approval of the Canadian Securities Exchange for the debt settlement. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The CSE has neither approved nor disapproved the information contained herein