Totec Resources Moves Forward with Qualifying Transaction

Totec Resources Ltd. announced the latest developments in its qualifying transaction with Usha Resources Ltd. Totec, a capital pool company, aims to acquire Usha's interest in 1540359 B.C. Ltd. and the White Willow Property, covering approximately 10,220 hectares. This step is crucial for Totec, as per TSX Venture Exchange rules.

The company has filed its filing statement for this transaction on SEDAR+, outlining details of the deal and revealing the consolidation of its shares. The reverse split will see one new share issued for every two existing shares.

While the transaction has received conditional TSXV acceptance, it awaits several regulatory approvals and customary closings. Totec's shares remain halted until these conditions are fulfilled. Further updates can be found in company releases posted on www.sedarplus.ca.