ENP Newswire -
Release date- 29072014 -
At this meeting, disinterested shareholders of the Company approved the Company's proposed private placement transaction resulting in the creation of a 'control person', namely CE Mining. As a result, the Company is pleased to announce the successful completion of a
CE Mining now owns 60,000,000 common shares of the Company (27.51% of the current issued and outstanding share capital of the Company) and 40,000,000 warrants. Upon the exercise of all of its warrants, CE Mining would own, on a partially diluted basis, 38.75% of the issued and outstanding common shares of the Company.
The Company is also pleased to announce the receipt of the first share payment from
About CE Mining
CE Mining is a company jointly owned and managed by
Plinian is an investor in, and a leading operational manager of, mineral discovery, development, production, and turnaround opportunities with extensive operational expertise in gold, silver, copper, nickel, PGMs (platinum group metals) and iron ore in the
Use of Proceeds
The proceeds from the private placement will be used for the advancement of
Statements Regarding Forward-Looking Information
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as 'may', 'will', 'should', 'would', 'assuming', 'in the event' and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures or use of proceeds.
There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, land title disputes, security of licenses granted to explore, develop and mine, regulatory risks and environmental concerns.
Most of these factors are outside the direct control of the company. Investors are cautioned not to put undue reliance on forward- looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Tel: +1 604 638 8005
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