Republic Completes Debt Conversion Transactions
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/28/11 -- Republic Goldfields Inc. (the "Corporation") announced today that Mr. Donald Empey ("Empey"), a director and the President and Chief Executive Officer of the Corporation, and 2004762 Ontario Inc., a company controlled by Empey, have agreed to convert the $159,915 and $133,057 respectively owed to them by the Corporation, into an aggregate of 58,594 common shares of the Corporation (together, the "Transactions").
The Transactions, which were negotiated on terms believed by the Corporation to be highly favourable to both shareholders and the Corporation, were completed in order to provide the Corporation with increased financial flexibility to pursue certain mineral exploration activities.
The Transactions were unanimously approved by the board of directors of the Corporation, with Empey declaring his interest in the Transactions to the board of directors of the Corporation.
REPUBLIC GOLDFIELDS INC.
Tel: (416) 977-4653
This press release contains "forward-looking" information. All statements, other than statements of historical fact, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future constitute forward-looking information. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but may not be limited to, the Corporation's potential pursuit of mineral exploration activities. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Corporation's determination not to proceed with the mineral exploration activities currently under consideration, or any at all. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Contacts:
Republic Goldfields Inc.
Donald Empey
President
(416) 977-4653
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Unternehmensinformation / Kurzprofil:
Datum: 28.12.2011 - 15:52 Uhr
Sprache: Deutsch
News-ID 100061
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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"Republic Completes Debt Conversion Transactions"
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