Therma-Med Inc. Completes Their 2011 Acquisition Payment for the Hindon Copper Property
(firmenpresse) - TORONTO -- (Marketwire) -- 12/05/11 -- Therma-Med Inc. (PINKSHEETS: THRA) is pleased to announce the completion of its 2011 option payment for the Hindon Copper property located in Ontario, Canada.
The Company has completed year one of the three year option payment for the Hindon property, ahead of schedule. Therma obtained two debt financings totalling $110,000, ($25,000 on July 27, 2011 and $85,000 on December 1, 2011), to secure this strategic property. These financings bear no interest and can be converted into common shares of the Company after one year with the approval of both parties. We will look at implementing similar financings to secure funds for the upcoming work programs.
The contract for our B.C. property in the Slocan region is currently being reviewed and amended. This region presents tremendous potential, however, due to limited resources we will have to extend our timelines to fully develop this opportunity.
CEO Zajay Trujillo stated, "I'm pleased that we are achieving these small steps along our journey towards production. Securing financing through debt instrument allows no immediate dilution of our stock and shareholders value. We will continue to focus on transparency and look at cost effective methods of fulfilling our game plan."
Please check the Company's website for further updates.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Therma-Med, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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Datum: 05.12.2011 - 14:45 Uhr
Sprache: Deutsch
News-ID 93979
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Mining & Metals
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