on Metalite Resources, Inc. (isin : CA5912362038)
Metalite Resources Inc. announces bankruptcy of its subsidiary Next Generation Resources Inc.
TORONTO, ON, February 20, 2024 - Metalite Resources Inc. (CSE:METL)(OTC PINK:JNCCF)(Frankfurt:5VHA), a Canadian mining exploration company, announced today that its subsidiary, Next Generation Resources Inc., has filed for bankruptcy under section 49 of the Bankruptcy and Insolvency Act (Canada), effective February 12, 2024. The firm S. Funtig and Associates Inc. has been appointed as the bankruptcy trustee in this process.
A creditors' meeting is scheduled via teleconference on February 27, 2024 at 11:00 AM EST. Metalite Resources will provide further information regarding Next Generation's bankruptcy in due course. Metalite Resources Inc. is focusing on precious metals exploration, with an ongoing project in NSW, Australia.
This announcement also includes forward-looking statements regarding future activities planned by Metalite. However, these statements are subject to risks and uncertainties that could impact the company's actual results.
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