DGAP-News: United Mining Group Receives Conditional Approval for TSX Listing
(firmenpresse) - United Mining Group / Regulatory Admission
31.08.2010 15:00
Dissemination of a Corporate News, transmitted by
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August 31, 2010, Vancouver, British Columbia: United Mining Group, Inc.
(the 'Company' or 'UMG'), (CNSX: UMG, Munich: UM8) is pleased to announce
that the Toronto Stock Exchange (TSX) has conditionally approved the
Company's common shares for listing on the TSX. The TSX has reserved the
stock trading symbol 'UMG' in anticipation of the commencement of trading
of the Company's shares.
Listing of the Company's common shares on the TSX is subject to the Company
providing evidence of meeting all TSX requirements, including receipt by
the TSX of certain required documentation. The Company will make a further
announcement once the TSX has issued a bulletin confirming the date on
which trading will begin. Once listed on the TSX, the Company will delist
from the Canadian National Stock Exchange (CNSX).
Greg Stewart, President and CEO of UMG, stated, 'The TSX is one of the most
active markets in the world for resource companies and particularly
precious metal producers. Listing on the TSX offers our shareholders
increased exposure to the global mining investment community and provides
the Company with access to capital and enhanced liquidity.'
About United Mining Group
United Mining Group is a profitable, vertically integrated mining company
with operations in Idaho, USA. The Company offers a full suite of mining
services including contract mining to silver miners in the district. The
Company owns its own custom welding and fabrication shop allowing it to
repair/rebuild equipment for its own use and for outside mining companies.
The Company is currently earning, through development and operations, an
80% interest in the Crescent Silver Mine adjacent to the Sunshine Silver
Mine in the Silver Valley. The Crescent Mine has historically produced 25
million ounces of silver at an average grade of 27.3 opt (SRK Consulting
43-101 report, March 1, 2010). UMG currently has an indicated silver
resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt
silver) and additional inferred silver resources of 4.1 million (211,000
tons grading 19.5 opt silver).
UMG is committed to building a senior silver-producing mining company based
on aggressive exploration and development of the highly-prospective current
land position at Crescent and through the acquisition of additional silver
interests.
For more information about the Company, please visit:
www.unitedmininggroup.com
On behalf of the board of directors of United Mining Group, Inc.,
'Greg Stewart'
President, CEO and Chairman
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements, which address future events and conditions, which are subject
to various risks and uncertainties. Forward looking statements in this
press release include that we will list our stock on the TSX, delist from
CNSX, and that a TSX listing should provide increased exposure to the
global mining investment community, access to capital and enhanced
liquidity. Factors which could prevent these from occurring include that we
cannot meet TSX listing requirements or that TSX listing does not result in
expected benefits.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise and, as
such, undue reliance should not be placed on forward-looking statements.
The Company expressly disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise.
The Canadian National Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
FOR MORE INFORMATION, PLEASE CONTACT:
Greg Stewart
Tel: +1 208.682.9018
Email: gstewart(at)unitedmininggroup.com
Milestone Media AG (Investor Relations Europe)
Tel.: +41 41 5000 769
Email: ck(at)milestonemedia.ch
31.08.2010 15:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 31.08.2010 - 15:00 Uhr
Sprache: Deutsch
News-ID 32121
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Kategorie:
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