Mineworx Enters into Agreement to Sell Cehegin Iron Ore Asset

EDMONTON, Alberta, March 22, 2022 (GLOBE NEWSWIRE) -- Mineworx Technologies Ltd., (the "Corporation" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) announced that, further to its January 17, 2022 news release, it has entered into a share purchase agreement dated March 21, 2022 (the “Share Purchase Agreement”) with Iron Bull Mining Inc. (“Iron Bull”), pursuant to which Mineworx will sell its Spanish subsidiary, Magnetitas del Cehegín, S.L. (“MDC”), which company is the direct owner of Mineworx’s Cehegin Iron Ore Asset, for a purchase price of $20,000,000 (the “Proposed Transaction”). The arm’s length Proposed Transaction will constitute a “Change of Business” for Mineworx (the “Proposed COB”) under the applicable policies of the TSX Venture Exchange (the “TSXV”). ‎The Proposed COB would see Mineworx transition from a Resource Issuer to a Technology Issuer on the TSXV.

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