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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Centamin Plc | TSX:CEE | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.22 | 2.25 | 2.29 | 0 | 12:06:31 |
NOT FOR DISTRIBUTION IN THE UNITED STATES. Module Resources Incorporated (TSX VENTURE:MLE) announces today that, subject to regulatory approval, it has closed a non-brokered private placement of flow-through shares previously announced on December 23, 2009. The Company issued 450,000 flow-through shares at a subscription price of C$0.10 per share for proceeds of C$45,000. An officer of the Company subscribed for 50,000 shares. The Company had intended to raise C$100,000 in this private placement. No finder's fees were paid. The securities issued under this private placement will be subject to a four-month hold period. The proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expenses ("CEE"), as defined in the Income Tax Act (Canada). The Company will renounce such CEE to the subscribers effective for the 2009 tax year. The funds will be used for drilling and grass roots exploration on the Company's Ladner Gold Property in southern British Columbia. About Module Resources Module Resources' Ladner Gold Project includes the Ladner Mine (formerly called the Carolin Mine that produced approximately 45,000 ounces of gold from underground operations from 1982 - 84); Emancipation Mine (intermittent small gold producer from 1916 - 41); Pipestem Mine (intermittent small gold producer from 1935 - 37); and numerous gold prospects situated along the under-explored Coquihalla Gold Belt. Based on historical exploration and development work in 1995 - 1996 and historical production records of the Carolin Mine, the Company believes that there is potential to reopen the mine at some time in the future if the exploration and development programs are successful and a positive feasibility study is obtained given a favorable gold price. On behalf of the board of directors, Bruce W. Downing, M.Sc., PGeo., Hon.FEC, President & Chief Executive Officer Caution concerning forward-looking information This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Module in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Module's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Module disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
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