Scorpio Mining Corporation today issued a letter to shareholders. With the June 10, 2014 proxy deadline fast approaching, shareholders are urged to vote the Company’s WHITE proxy today.
Citation Resources Inc. and Inlet Resources Ltd. are pleased to announce that, further to their press releases of April 22, 2014 in respect of their planned business combination, the companies have entered into a definitive arrangement agreement dated as of May 27, 2014. The transaction will effectively combine the assets of both companies on a consolidated basis, with Citation becoming a wholly-owned subsidiary of Inlet.
Evrim Resources Corp. is pleased to announce that it has closed the non-brokered private placement announced on May 7, 2014. The company has issued 5,000,000 shares for gross proceeds of $1,600,000. The shares will be subject to a 4 month hold expiring on September 28, 2014. Proceeds from the Private Placement will be used for exploration and working capital purposes. Finder’s fees of $26,016 were paid in conjunction with the Private Placement.
IMPACT Silver Corp. announced today its financial results for the three months ended March 31, 2014. The information in this news release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements and Management’s Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedar.com. All amounts are stated in Canadian dollars unless otherwise specified.
Fortune Bay Corp. announces that it has initiated a strategic review process to explore alternatives for the enhancement of shareholder value. The review will consider various alternatives for the Company, including the potential sale of the Company’s exploration assets, and any other options identified by executive management with the fundamental objective of realizing the best value for the Company’s shareholders.
Marlin Gold Mining Ltd. announces that it has closed its previously announced credit facility with Sprott Resource Lending Partnership for $10,000,000. The Loan will bear interest at a rate of 10% per annum, and will be secured against all of the assets of Marlin and the majority of the assets of its subsidiaries. However, the conditions of the Loan allow for the shares of Sailfish Royalty Corporation (a wholly-owned subsidiary of Marlin) to be distributed by Marlin to its shareholders on a pro-rata basis. The Loan will be payable in full on or before October 31, 2015, subject to certain prepayment rights in favour of Marlin. Medalist Capital Ltd. was paid a finder’s fee of 2% in connection with the Loan.
Precipitate Gold Corp. is pleased to announce that it has completed a non-brokered private placement of 6,953,333 units of the Company at a price of C$0.15 per unit for gross proceeds of C$1,043,000.
Silver Standard Resources Inc. is pleased to announce that Beverlee F. Park has joined the Company’s Board of Directors effective May 20, 2014. Ms. Park will also serve as a member of the Audit Committee and the Safety and Sustainability Committee. Ms. Park is replacing Richard C. Campbell who retired from the Board after serving as a Director of Silver Standard, including service as the Chair of the Safety and Sustainability Committee, since 2008.
OREX EXPLORATION INC. – The Corporation announces that it has extended to July 10, 2014 the proposed non-brokered private placement of units for a maximum amount of $500,000. Each unit will comprise one common share of the Corporation at a price of $0.05 and one whole common share purchase warrant, at an exercise price of $0.05 per share, valid for a three-year period. Insiders of the Corporation may subscribe for more than 25% of the offered units. The subscribed securities will be subject to a hold period of four months from the closing date. This private placement is subject to the final approval of the TSX Venture Exchange.
Prospero Silver Corp. is pleased to announce that on May 23, 2014 it completed the non-brokered private placement first announced on April 15, 2014 of 5,000,000 units at a price of $0.05 per Share, for gross proceeds of CDN $250,000. Each unit is comprised of one common share and one full non-transferable share purchase warrant. Each warrant is exercisable by the holder to acquire one additional common share at a price of $0.10 per warrant for a period of 12 months from the date of closing subject to acceleration of the expiry date as set out below.
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