Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

Omineca Terminates Agreement to Acquire Gravitas Metals


Print article Print article
2012-09-20 06:12:33 -

Cranbrook, British Columbia CANADA, September 20, 2012 /FSC/ - Omineca Mining and Metals Ltd. (OMM - TSX Venture), announces that it has delivered formal notice to Gravitas Metals Corp. ("Gravitas" a private British Columbia Corporation), terminating an agreement announced March 21st, 2012 whereby Omineca held the exclusive right (subject to regulatory approval) to acquire all issued and outstanding shares of Gravitas. The primary asset held by Gravitas is the option to earn an 80% interest in the Sully group of claims, located near Fort Steele in southeastern British Columbia.

Tim Termuende, P.Geo, President and CEO of Omineca stated,"Omineca is well positioned to take advantage of opportunities as they present themselves in this current economic climate. The Company has experienced management,

maintains a solid share structure (18 million shares outstanding) and is well funded, with over $2,200,000 in its treasury."

About Omineca Mining and Metals

Omineca Mining and Metals was created by way of a Plan of Arrangement on May 20th, 2011. Shareholders of Copper Canyon Resources Ltd. approved the plan to reorganize the Company's mineral property assets in an effort to maximize shareholder value. Under the terms of the arrangement, two of Copper Canyon's projects, Abo (Harrison) Gold and Kiwi, were transferred into Omineca on a one-for-four share basis.

On behalf of the Board of Directors

Signed

"Tim J. Termuende"

President and CEO

For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at www.ominecamining.com/

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

To view this press release as a web page, click onto the link below:
www.usetdas.com/pr/omineca19092012.htm



Source: Omineca Mining & Metals Ltd. (TSXV OMM) www.ominecamining.com
Maximum News Dissemination by FSCwire. www.fscwire.com


Author:
Fred Gautreau
e-mail
Web: www.fscwire.com
Phone: 14037173898

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com | BidVertiser