/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY
FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION
OF U.S. SECURITIES LAWS./
DENVER and VANCOUVER, July 14,
2015 /CNW/ - Sandspring Resources Ltd. (SSP:
TSX-V) ( "Sandspring") and PNO Resources Ltd. (PNO.H:
TSX-V) ("PNO") are pleased to announce that further to the news
release dated July 6, 2015, the
offering has now been increased by an additional 5,000,000 units at
$0.20/unit for proceeds of
$1,000,000. This brings the total
gross proceeds to $4,500,000 subject
to final approval from the TSX Venture Exchange.
About Sandspring Resources Ltd..
Sandspring Resources Ltd. was incorporated pursuant to the
provisions of the Business Corporations Act (Alberta) on September
20, 2006 and continued out of Alberta and into Ontario effective March
31, 2010. Sandspring is a Canadian junior mining
company currently moving toward a definitive feasibility study for
the multi-million ounce Toroparu Project in the Republic of
Guyana.
About PNO Resources Ltd.
PNO is a company incorporated under the laws of British Columbia and whose common shares are
listed on the NEX board of the TSX Venture Exchange under the
symbol "PNO.H". PNO's current principal activities are seeking
opportunities in the natural resource sector.
ON BEHALF OF THE
BOARD OF DIRECTORS OF
SANDSPRING
RESOURCES LTD.
"Richard
A. Munson"
Per:
Richard Munson
Chief Executive Officer
|
ON BEHALF OF THE
BOARD OF DIRECTORS OF
PNO RESOURCES
LTD.
"Christy
Louth"
Per:
Christy Louth
President and Director
|
Additional information on Sandspring can be viewed on SEDAR
under the Company's profile at www.sedar.com or on Sandspring's
website at www.sandspringresources.com
This news release contains certain forward-looking
information and statements within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "may", "might", "will",
"project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify forward-looking information
and/or statements. Forward-looking statements and/or information
are based on a number of material factors, expectations and/or
assumptions of Sandspring which have been used to develop such
statements and/or information but which may prove to be incorrect.
Although Sandspring believes that the expectations reflected in
such forward-looking statements and/or information are reasonable,
undue reliance should not be placed on forward-looking statements
as Sandspring can give no assurance that such expectations will
prove to be correct. In addition to other factors and assumptions
which may be identified herein, assumptions have been made
regarding, among other things: that the Acquisition will be
effected as currently proposed, and that all requisite shareholder,
regulatory and third party consents will be obtained in connection
therewith in form and substance acceptable to each of Sandspring
and PNO; the anticipated timing of the Acquisition and the expected
benefits of the Acquisition; that Sandspring will continue to
conduct its operations in a manner consistent with past operations;
results from drilling activities; Sandspring's future plans;
availability of financing and/or cash flow to fund current and
future plans and expenditures, including with respect to the
Private Placement; the impact of increasing competition; the
general stability of applicable economic and political
environments; the general continuance of current industry
conditions; and the timely receipt of any required regulatory
approvals. The forward-looking information and statements
included in this news release are not guarantees of future
performance and should not be unduly relied upon. Such information
and/or statements, including the assumptions made in respect
thereof, involve known and unknown risks, uncertainties and other
factors that may cause actual results and/or events to differ
materially from those anticipated in such forward-looking
information and/or statements including, without limitation: risks
associated with the failure to complete the Acquisition and/or
Private Placement, in each as currently proposed or at all; risks
associated with the uncertainty of exploration results and
estimates, the uncertainty of conducting operations under a foreign
regime, exploration risk, the uncertainty of obtaining all
applicable regulatory and/or shareholder approvals, and the
Company's dependence on Sandspring's management
personnel, and/or certain other risks detailed from time-to-time
in Sandspring's public disclosure documents.
Furthermore, the forward-looking statements contained in this news
release are made as at the date of this news release and the
Company does not undertake any obligations to publicly update
and/or revise any of the included forward-looking statements,
whether as a result of additional information, future events and/or
otherwise, except as may be required by applicable securities
laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE PNO Resources Ltd.