Resinco(R) Capital Partners Inc. Exercises Warrants and Receives Bonus Shares in Cue Resources Ltd.
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/12/12 -- Resinco® Capital Partners Inc. ("Resinco") (TSX: RIN)(FRANKFURT: L6V) announces that it has acquired 3,083,333 common shares ("Shares") of Cue Resources Ltd. ("Cue") (TSX VENTURE: CUE), which shares represent in the aggregate 2.63% of Cue's issued and outstanding capital. The shares were acquired from Cue's treasury pursuant to the exercise of 2,083,333 share purchase warrants (the "Warrants") from a previously announced private placement with Cue, completed on November 10th, 2010, and from the receipt of 1,000,000 bonus shares (the "Bonus Shares") pursuant to a loan agreement between Resinco and Cue, dated August 3rd, 2011, as announced by Cue on August 5th, 2011. The exercise price of the Warrants was $0.12 per Share, for a total consideration of C$250,000, and the deemed value of the Bonus Shares was $0.05, for a total consideration of $50,000.
Prior to these transactions, Resinco owned and controlled 18,901,580 Shares as well as warrants to acquire a further 4,285,715 Shares.
Upon receipt of the Bonus Shares and the exercise of the Warrants, Resinco now owns and controls an aggregate 21,985,183 Shares, representing approximately 18.76% of the issued and outstanding Shares, and warrants to acquire a further, 2,202,382 Shares, representing approximately 20.26% of the issued and outstanding Shares, on a partially diluted basis, assuming the exercise of convertible securities held by Resinco only.
The acquisition of the Shares was made to assist Cue in the financing of the development of the Yuty Project, in Paraguay. Resinco will evaluate the investment in Cue and may, among other things, increase or decrease its ownership in Cue depending on factors including market conditions, the business and prospects of Cue and other alternatives available to Resinco from time to time.
The Warrants were issued, and the Shares underlying the Warrants acquired, in reliance on the minimum amount investment exemption from the prospectus and registration requirements of applicable securities laws pursuant to National Instrument 45-106 ("NI 45-106").
The Bonus Shares were issued in reliance on the Bonus and Finder's Fee exemption from the prospectus and registration requirements of applicable securities laws pursuant to BC Instrument 45-529.
About Resinco® Capital Partners Inc.
Resinco (Resource Investment Company) is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit .
On behalf of the Board of Directors
RESINCO® CAPITAL PARTNERS INC.:
John Icke, President and CEO
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Resinco Capital Partners Inc.
John Icke
President & CEO
604-696-6515 or Toll Free: 1-877-687-5755
604-684-2990 (FAX)
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Datum: 12.01.2012 - 21:05 Uhr
Sprache: Deutsch
News-ID 103807
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Venture Capital
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