Miocene Metals Limited announces listing on TSX Venture Exchange
09 August 2011 - 11:32PM
PR Newswire (Canada)
TORONTO, Aug. 9, 2011 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR
DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN OR
INTO THE UNITED STATES/ TORONTO, Aug. 9, 2011 /CNW/ - Miocene
Metals Limited (the "Company") (TSXV:MII), the spin-out corporation
formed by Wallbridge Mining Company Limited ("Wallbridge") to
acquire and finance exploration on Wallbridge's former British
Columbia properties, is pleased to announce that effective August
9, 2011, the common shares of the Company will commence trading on
the TSX Venture Exchange (the "Exchange") under the trading symbol
MII. The Company will be listed as a Tier 1 Mining Issuer. Prior to
listing, the Company closed its previously announced initial public
offering of 6,945,000 units ("Units") at a price of $0.36 per Unit
and 6,320,000 of flow-through common shares ("Flow-Through Shares")
at a price of $0.40 per Flow-Through Share (the "Offering"). Each
Unit is comprised of one common share ("Common Share") and one half
of one Common Share purchase warrant ("Warrant"). Each whole
Warrant is exercisable into one Common Share at a price of $0.50
per Common Share for a period of 2 years from the closing date of
the Offering. Each Flow-Through Share was issued as a
"flow-through share" within the meaning of the Income Tax Act
(Canada). Macquarie Private Wealth Inc. (the "Agent") acted as
agent on a commercially reasonable efforts basis for the Offering.
In consideration for the services provided by the Agent and its
sub-agents, the Company has issued an aggregate of 928,550
non-transferable compensation options (the "Agent's Compensation
Options") to purchase 928,550 units in the capital of the Company
(the "Agent's Units") representing 7% of the number of Units and
Flow-Through Shares sold pursuant to the Offering. The Agent's
Compensation Options are exercisable until the close of business on
August 5, 2013 at a price of $0.36 per Agent's Unit. Each Agent's
Unit consists of one common share (an "Agent's Share") and one-half
of one common share purchase warrant of the Company (each whole
common share purchase warrant being herein referred to as an
"Agent's Warrant"). Each Agent's Warrant entitles the Agent to
purchase one common share (each also referred to as a "Warrant
Share") at a price of $0.50 subject to certain adjustments in
certain events at any time on or before the close of business on
August 5, 2013. As a result of the closing of the Offering, each of
the special warrants that were issued by Wallbridge as a
dividend-in-kind to its shareholders of record as at April 30, 2010
have been automatically converted into an equivalent number of
common shares in the capital of the Company. "We are very pleased
to accomplish this public listing milestone which enables the
Company's shareholders to buy and sell their shares through the
facilities of the TSX Venture Exchange," commented the President
and CEO of the Company, Bruce Jago. This press release is for
information purposes only and does not constitute an offer to sell
or the solicitation of an offer to buy the securities in the United
States. The Units and Flow-Through Shares have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended and accordingly are not being offered for sale and may
not be offered, sold or delivered, directly or indirectly within
the United States, except pursuant to an exemption from the
registration requirements of that Act and applicable state
securities laws. Additional detailed disclosure regarding the
Company can be found on SEDAR at www.sedar.com and on the Company's
website at www.miocenemetals.com. 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. About Miocene Metals
Limited Miocene Metals is focused on the exploration and
development of seven porphyry copper-gold-molybdenum properties
acquired from Wallbridge in south-western British Columbia within
the Miocene-age Cascade Magmatic Arc. The Cascade Arc shares many
geological characteristics with the Miocene-age porphyry belt that
stretches the length of Chile and Argentina in South America and
hosts some of the world's largest porphyry copper-gold-molybdenum
deposits including Chuquicamata, El Teniente and Los Bronces.
FORWARD-LOOKING STATEMENTS This news release contains
forward-looking information that involves substantial known and
unknown risks and uncertainties, most of which are beyond the
control of the Company, including, without limitation, those listed
under "Risk Factors" and " Forward-Looking Statements" in the
Company's Final Prospectus (collectively, "forward-looking
information"). The Company cautions investors about important
factors that could cause actual results to differ materially from
those projected in any forward-looking statements included in this
news release. Any statements that express, or involve discussions
as to, expectations, beliefs, plans, objectives, assumptions or
future events or performance are not historical facts and may be
forward-looking 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 the expectations set out
in the Company's Final Prospectus will prove to be correct and
accordingly, prospective investors should not place undue reliance
on these forward-looking statements. These statements speak only as
of the date of this press release and the Company does not assume
any obligation to update or revise them to reflect new events or
circumstances. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and
except as may be required by applicable securities laws. To view
this news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/August2011/09/c2540.html
p /p p align="justify" Please visit the Miocene Metals' website
at a
href="http://www.miocenemetals.com/"www.miocenemetals.com/a, or
contact: /p table border="0" valign="top" tr td Miocene Metals
Limited /td /tr tr td Linda Zubal, Investor Relations
/td td Ron Poirier, Investor Relations /td
/tr tr td Tel: (705) 682-9297 ext. 247 /td
td Tel: (705) 682-9297 ext 263 /td /tr tr td Email: a
href="mailto:lzubal@miocenemetals.com"lzubal@miocenemetals.com/a
/td td Email: a
href="mailto:rpoirier@miocenemetals.com"rpoirier@miocenemetals.com/a
/td /tr /table p /p
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