Valencia in Discussions to Acquire New Phosphate Asset
2011年11月30日 - 3:24AM
Marketwired
Valencia Ventures Inc. (TSX VENTURE:VVI) ("Valencia" or the
"Company") is pleased to announce that it is in discussions with an
arm's length party to acquire a phosphate project in Africa (the
"Proposed Transaction"). It is anticipated that Valencia will
negotiate and enter into a definitive agreement in respect of the
Proposed Transaction, which will provide for conditions precedent
that are standard for a transaction of this nature, including
satisfactory due diligence, receipt of all regulatory and TSX
Venture Exchange (the "TSXV") approvals, and approval by Valencia's
shareholders.
In accordance with the policies of the TSXV, the common shares
of the Company are currently halted from trading and will remain
halted until further notice.
Valencia will provide further details in respect of the Proposed
Transaction, in due course once available, by way of news
release.
As indicated above, completion of the Proposed Transaction is
subject to a number of conditions, including shareholder approval.
There can be no assurance that a definitive agreement will be
entered into or that the Proposed Transaction will be completed on
the terms contemplated in such agreement, or at all.
About Valencia
Valencia is a Canadian resource company with common shares that
trade on the TSX Venture Exchange under the symbol VVI.
Forward - Looking Information
Certain information set forth in this press release contains
"forward-looking information" under applicable securities laws.
Except for statements of historical fact, certain information
contained herein constitutes forward-looking information, including
statements regarding the execution of a definitive agreement, the
completion of the Proposed Transaction, the receipt of regulatory
and shareholder approvals, management's assessment of Valencia
future plans and operations, which statements are based on
Valencia's current internal expectations, estimates, projections,
assumptions and beliefs, which may prove to be incorrect. Some of
the forward-looking information may be identified by words such as
"expects" "anticipates", "believes", "projects", "plans", and
similar expressions. These statements are not guarantees of future
performance and undue reliance should not be placed on them. Such
forward-looking information necessarily involve known and unknown
risks and uncertainties, which may cause Valencia's actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking information. These
risks and uncertainties include, but are not limited to:
liabilities inherent in mine development and production;
geological, mining and processing technical problems; Valencia's
inability to obtain required mine licenses, mine permits and
regulatory approvals required in connection with mining and mineral
processing operations; title matters; foreign operations issues;
local community issues; competition for, among other things,
capital, acquisitions of reserves, undeveloped lands and skilled
personnel; incorrect assessments of the value of acquisitions;
changes in commodity prices and exchange rates; currency and
interest rate fluctuations; various events which could disrupt
operations and/or the transportation of mineral products, including
labour stoppages and severe weather conditions; the demand for and
availability of rail, port and other transportation services; and
management's ability to anticipate and manage the foregoing factors
and risks. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Valencia undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Valencia Ventures Inc. Frederic W.R. Leigh President
and CEOfleigh@forbesmanhattan.com
Valencia Ventures (TSXV:VVI)
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