Vulcan Minerals Inc.: Red Moon Potash Listing on TSXV
(firmenpresse) - ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwire) -- 08/16/12 -- Vulcan Minerals Inc. ("the Company" - "Vulcan")(TSX VENTURE: VUL) is pleased to announce that the Plan of Arrangement involving the spin out of Red Moon, a new subsidiary company focussed on potash/salt exploration and development in western Newfoundland closed August 15, 2012. Shareholders of the Company as of August 15, 2012 will receive one Red Moon share for every 3.835075 shares held in the Company, distribution will be completed by August 17, 2012. Red Moon will be listed on the TSX Venture Exchange under the symbol "RMK" on Friday, August 17, 2012. The Company has also completed a private placement in Red Moon for $750,000 for its initial phase of exploration and working capital.
Vulcan is a diversified junior exploration company with petroleum and mineral exploration interests in Newfoundland and in Labrador.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Shares Issued: 57,526,129
Contacts:
Vulcan Minerals Inc.
Patrick J. Laracy, President
Gerri A. MacNeil, Business Manager, Investor Relations
709-754-3186
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Unternehmensinformation / Kurzprofil:
Datum: 16.08.2012 - 17:38 Uhr
Sprache: Deutsch
News-ID 175365
Anzahl Zeichen: 0
contact information:
Town:
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR
Kategorie:
Mining & Metals
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