Continental Precious Minerals Inc. Announces Results of Annual General and Special Meeting

Not for distribution in the U.S. or to U.S. newswire services.

TORONTO, Oct. 11, 2019 (GLOBE NEWSWIRE) — Continental Precious Minerals Inc. (NEX-CZQ.H) (“Continental” or the “Company”) is pleased to announce that at its annual general and special meeting held on October 10, 2019 (the “Meeting”), shareholders of the Company (“Shareholders”) approved all matters brought before them, including: (i) approval of an amended and restated stock option plan and deferred share unit plan to be effective as of the completion of the previously announced proposed business combination with Metamaterial Technologies Inc. (the “Effective Time”); (ii) the name change of the Company to “Metamaterial Inc.” upon the Effective Time; (iii) the change of registered address of the Company upon the Effective Time; and (iv) the voluntary de-listing of the common shares of the Company from trading on the NEX Board of the TSX Venture Exchange at the discretion of the board of directors of the Company.

All annual matters that were put before Shareholders at the Meeting were approved, including the election of directors to serve before and after the Effective Time, and appointment of the Company’s auditor.

Additional information concerning the Meeting is available in the Company’s management information circular dated September 9, 2019.

Forward-Looking Statements

This release includes forward-looking information within the meaning of Canadian securities laws regarding Continental and its business, which may include, but are not limited to, statements with respect to completion of the proposed business combination with Metamaterial Technologies Inc., the proposed name change and address change, the implementation of an amended and restated stock option plan and deferred share unit plan and other factors. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company, and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Continental has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Continental does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information please contact:

Continental Precious Minerals Inc.
82 Richmond Street East, Suite 200
Toronto, Ontario M5C 1P1
Norman Brewster, Chief Executive Officer
416 203-7722

Cautionary Statement

Completion of the transaction is subject to a number of conditions, including, if applicable, TSX Venture Exchange acceptance and, if applicable pursuant to TSX Venture Exchange requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or listing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Continental should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.