Pedro Resources Terminates Transaction With Colorado Vanadium

Date: Jan 16, 2019

VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) — Pedro Resources Ltd. (TSXV: PED.H) (the “Company”) announces that the definitive purchase agreement entered into with Colorado Vanadium Corp. (“Colorado Vanadium”), and its shareholders, has been terminated effective immediately.  In connection with the proposed acquisition of Colorado Vanadium, no funds were advanced to Colorado Vanadium or any of its related parties and the Company did not assume any contingent liabilities or guarantees.  For further information concerning the definitive purchase agreement entered into with Colorado Vanadium, readers are encouraged to review the Company’s news release of July 16, 2018.

The Company has requested that trading in its common shares resume on the TSX Venture Exchange, and will issue a further news release once the effective date for the resumption has been confirmed.

Following the resumption of trading, the Company expects to resume its review of potential strategic transactions and acquisition opportunities.  This review may include transactions outside of the resource sector, and the Company will provide further information on this review as it progresses.

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