Rektron Announces Signing of an Exit Agreement With Its Significant Shareholders

NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / October 25, 2024 / Rektron Group Inc. ("Rektron" or the "Company") (CSE:REK.U)(FRA:F75) a global commodities trading house, announces the signing of an exit agreement with Callan Partners Limited and Nile Flow Limited (the "Significant Shareholders").

The Company and the Significant Shareholders have reached an agreement with Mr. Ricardo Phielix, director and CEO of the Company and Mr. Manny Bettencourt, director, CFO and Corporate Secretary (together, the "Departing Directors"), pursuant to which the Departing Directors have agreed to resign from their positions with the Company, on or before November 30, 2024. The Company intends to identify suitable replacement directors and officers promptly and hopes to have suitable candidates in place, effective on the date of the Departing Directors' respective resignations. In connection with the resignations, each of the Departing Directors will receive those termination payments provided for under those consulting agreements made between the Company and each of the Departing Directors.

The Company wishes to thank the Departing Directors for their valuable contributions to the Company.

The annual and special shareholder meeting of the Company is expected to be held as planned on January 9, 2025, to, among other things, elect the directors of the Company.

The Company will continue to provide updates on any significant developments relating to the foregoing as required and appropriate.

On Behalf of the Board of Directors, Rektron Group Inc.
Ricardo Phielix
Chief Executive Officer

FOR FURTHER INFORMATION CONTACT:

Manny Bettencourt
Email: ir@rektrongroup.com
Phone: +1 (289) 482-0744
Web: https://www.rektrongroup.com/

About the Company
The Company is the holding and parent company of Rektron AQ Limited, which is the holding and parent company of DL Hudson Limited. DL Hudson Limited is the trading arm of a group of companies, of which there are several subsidiaries that support the group's global commodity trading operations. The Company is headquartered in Vancouver, BC, while Rektron AQ Limited is headquartered in London, UK.
The Company focuses on maintaining an experienced team of management and traders, extensive geographical and product diversification, trading and logistical expertise, and financial and risk management. The team at the Group is composed of energy and metals traders, City of London and Wall Street bankers. The trading expertise includes principal energy and metals products, particularly ferrous and nonferrous metals, Energy Transition Commodities ("ETC"), recycled metals and crude and Euro VI-compliant refined oil products. The Company transacts across all compliant markets following the international trade regulations and guidelines.

FORWARD‐LOOKING STATEMENTS

This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, "forward‐looking statements") that relate to Rektron's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rektron's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to, the appointment of suitable replacement directors and officers and other factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's final prospectus dated March 4, 2024 and as amended on June 28, 2024 and August 12, 2024. Rektron undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rektron to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

No securities regulatory authority has either approved or disapproved of the contents of this news release.

Contact Information

Ricardo Phielix
CEO
ir@rektrongroup.com
+1 (289) 482-0744

SOURCE: Rektron Group Inc.