Shellron Provides a Corporate Update

February 07, 2024 11:30 PM AEDT | By News File Corp

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Shellron Provides a Corporate Update — Image source: Kalkine Media

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Vancouver, British Columbia--(Newsfile Corp. - February 7, 2024) - Shellron Capital Ltd. (TSXV: SHLL.P) ("Shellron" or the "Company"), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSX-V"), provides the following corporate update.

The lawsuit commenced by Shellron against Launchtrip Technologies Corp. ("Launchtrip"), and one of its officers, was dismissed by consent and without costs to any party. Pursuant to the lawsuit Shellron was seeking repayment of a $250,000 secured loan it made to Launchtrip in connection with a terminated qualifying transaction. Shellron continues to hold security over Launchtrip's IP, however it views the probability of recovering any funds from Launchtrip as very low.

Shellron also reports that it has granted 250,000 stock options to an officer and director. The stock options entitle the holder to acquire up to 250,000 common shares of Shellron at an exercise price of $0.10 for a period of 5 years from the date of grant.

ON BEHALF OF THE BOARD OF DIRECTORS

Daniela Freitas
Director

For more information contact:
Telephone: +1 (604) 418-6560
www.shellron.com

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer and Forward-Looking Information
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Shellron. In making the forward-looking statements, Shellron has applied certain assumptions that are based on information available, including Shellron's strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Shellron does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197120

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