Buccaneer Announces Termination of LOI

March 11, 2019 4:10 PM EDT | Source: Strategic Minerals Europe Corp.

Toronto, Ontario--(Newsfile Corp. - March 11, 2019) -  Buccaneer Gold Corp. (Buccaneer") announces it has terminated the earlier announced letter of intent with a company carrying on business in the cannabis market in the United States of America ("TargetCo"). The termination was mutual and releases have been exchanged.

Buccaneer does not have an immediate intention to enter the cannabis industry in the United States of America or elsewhere. It does intend to carry on with its business as a mining exploration company, to apply for a listing of its shares on the Canadian Securities Exchange and to raise flowthrough funding to carry out a program on its Massey Silica Project near Sudbury, Ontario. Buccaneer is also considering acquiring an interest in a second Canadian mining asset. Further details will be provided when appropriate.

Readers are reminded that Buccaneer has delisted from the TSX Venture Exchange.

Buccaneer Gold Corp.:

Peter M. Clausi
Director and Special Committee Member
1 416 890 1232

Forward Looking Information

This press release contains forward-looking statements which reflect Buccaneer's current expectations regarding future events, including with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding Buccaneer's intention to negotiate for or complete the acquisition of other mining assets. The forward-looking statements involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

No stock exchange nor its Regulation Services Provider has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.

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