Plexmar - die Turbokursrakete startet
7/25/2011 12:01:15 PM - Market Wire
QUEBEC CITY, QUEBEC, Jul 25, 2011 (MARKETWIRE via COMTEX News Network) --
Plexmar Resources Inc. (TSX VENTURE: PLE) announces that it has completed a private offering for a gross amount of $417,000. A total of 5,212,500 units (the "Units") at a price of $0.08 per Unit will be issued. Each Unit is comprised of one Plexmar common share and one common share purchase warrant. Each whole common share purchase warrant entitles its holder to subscribe to one additional common share for a period of 18 months at a price of $0.12 per share. Plexmar intends to use the proceeds of this private offering for the implementation of its exploration programs and for its working capital.
For the purposes of the closing of is private offering, Plexmar has granted to some intermediaries a total cash compensation of $31,360 and a total of 417,000 broker warrants entitling the holders to subscribe to one additional common share for a period of 18 months at a price of $0.12 per share.
Securities issued as part of this offering are subject to a four-month hold period under applicable securities legislation.
Neither 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.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
QUEBEC, QUEBEC CITY -- (Marketwire) -- 12/06/11 -- Plexmar Resources Inc. (TSX VENTURE: PLE) wishes to announce that the Malin plant is currently operating and producing from its two operating lines. The flotation line is currently processing polymetallic ores on a custom milling basis and the leaching line is processing gold ores that are purchased from the local market.
From July to October, the plant custom processed over 2,600 tonnes of silver-antimony ores and over 1,350 tons of gold ores were processed recovering 364.5 ounces of gold and 575 ounces of silver. Up to November 20th, 225 tons of gold ores were processed recovering 55.6 ounces of gold. Detailed recovery rates and operating costs will be published when available.
The second ball mill (5ft x 8ft) installation has been completed and is expected to be operating next month on additional feed.
Plexmar's subsidiary and J&M Business, the two partners in the joint venture operating company will carry out an accounting review of all investments, expenditures, costs and revenues incurred to date in order to define and share the operating profits on a 50-50 basis as dictated by the contractual agreement. Additional investments incurred by J&M may need to be reimbursed prior to a 50-50 split of profits.
The Malin plant is a custom mill processing plant located near the town of Trujillo and is being operated through a 50-50 joint venture with J&M Business SAC.
The Company announces that Mr. Rolando Arellano has tendered his resignation from the board of directors. Mr. Arellano will remain an advisor to the board of directors. We wish to thank Mr. Arellano for his efforts and valuable contributions and wish him well in his future endeavours.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
PROFILE
Plexmar is a junior company focused on precious metals in Peru
PROPERTIES
Gold :Peru: Oro Del Norte, Marilia, Bolsa Del Diablo
CORPORATE INFO
- 228 M shares outstanding
- Symbol: PLE (TSX-V)
Contacts:
Guy Bedard, president
418 658-6776
www.plexmar.com
Paradox Public Relations:
866 460-0408
514 341-0408
QUEBEC CITY, QUEBEC, Apr 03, 2012 (MARKETWIRE via COMTEX) -- Plexmar Resources Inc. (TSX VENTURE: PLE) Plexmar wishes to report major breakthroughs in its effort to secure the surface rights to explore the Bolsa del Diablo project.
It was unanimously decided that a formal community assembly be convened before the end of April to approve a surface rights access agreement allowing the Company to pursue its exploration program. This assembly will include the miners seeking formalization and all the residents. In return for the surface access rights, the Company will help expedite the formalization of the miners present on the Company's concessions, hire local residents and local service providers to help in the exploration programs and help locate funding for a Social Enterprise that will generate employment and benefits for the whole community.
''We are delighted and eager to cooperate with all the stakeholders and finally pursue our exploration program on this exciting gold project. We are anxious to show the community members the real tangible benefits they will receive from our association. The upcoming community meeting is the final step in securing long term access to this high potential area." Says Guy Bedard, President
The Pampa Larga community covers an area of 42,000 hectares and has approximately 2,000 residents that are scattered over some 15 small villages. Some of those villages are remote from the center and have no road access making it difficult for their residents to attend community related meetings during the rainy season which has been especially long this year.
The Peruvian legislative council recently adopted decrees amending the Mining law. These have prompted the informal miners and the community to seek formalization with the Company in exchange primarily for the access rights to explore.
In light of those recent developments, the Impact Environmental Study report prepared in the past will be reviewed and filed with the MINEM (Ministry of Energy and Mines). The approval of this report by the MINEM is a pre-requisite, along with the surface rights access agreement to obtain the drilling permit.
A total of $10.3M was invested since 2005 in Plexmar related properties in acquisition costs, exploration, and processing plant.
Cancellation of proposed shares consolidation
Due to the recent breakthroughs with the surface miners and the community, the management has decided to cancel the stock consolidation as announced on Feb.10th 2012.
Appointment of General Manager
The Company also wishes to announce that Dr. Elmer Marin Pasara was recently named general manager of Minera San Miguelito SAC, Plexmar's wholly owned Peruvian subsidiary. Dr. Marin is an attorney at law with over 30 years of experience in corporate law, the resources sector and in community relations. He has done consulting work for many Canadian junior companies established in Peru. '' We are very fortunate to have been able to attract a reputable and experienced attorney like Dr. Marin to help us move our projects forward. His wealth of experience dealing with communities and knowledge of the mining sector will be very beneficial." Says Guy Bedard, President.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
PROFILE Plexmar is a junior company focused on precious metals in
Peru
PROPERTIES Gold :Peru: Oro Del Norte, Marilia, Bolsa Del Diablo,
CORPORATE INFO 228 M shares outstanding
Symbol: PLE (TSX-V)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".
Contacts:
Guy Bedard, president
418 658-6776
SOURCE: PLEXMAR RESOURCES INC.
Copyright 2012 Marketwire, Inc., All rights reserved.
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SUBJECT CODE: Manufacturing and Production:Mining and Metals
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TORONTO, April 23, 2012 /PRNewswire/ - Dia Bras Exploration Inc. (TSX-V:DIB) (BVLAC:DIB) ("Dia Bras" or the "Company") and Plexmar Resources Inc. (TSX-V: PLE) ("Plexmar") are pleased to announce that Dia Bras and Plexmar have entered into a letter of intent (the "Letter of Intent") pursuant to which Dia Bras will acquire all of the outstanding common shares of Plexmar in exchange for common shares of Dia Bras by way of a statutory plan of arrangement (the "Acquisition"). The Acquisition is subject to Dia Bras' completion of due diligence of the business and affairs of Plexmar, the execution of definitive agreements within 60 days of signing the Letter of Intent, approval by the Plexmar shareholders, regulatory and court approvals, and other customary closing conditions. In addition, Plexmar has agreed to deal exclusively with Dia Bras for a period of 90 days. The Plexmar board of directors has created a special committee, composed of independent directors, which will serve to review all documents and process steps, in order to provide recommendations to the Plexmar board of directors.
Pursuant to the Acquisition, the outstanding Plexmar common shares will be acquired in exchange for an aggregate of 4,587,595 Dia Bras common shares. In addition, all of the outstanding options and warrants to purchase Plexmar common shares will be exchanged for 283,424 Dia Bras replacement options and 892,210 Dia Bras replacement warrants. As a result, after giving effect to the Acquisition, Dia Bras and Plexmar shareholders will own approximately 97% and 3%, respectively, of the Dia Bras common shares issued and outstanding.
Letter of Intent Highlights:
•Dia Bras has entered into a Letter of Intent with Plexmar to acquire all of the outstanding common shares of Plexmar at an agreed exchange ratio of 0.020101 of a Dia Bras common share for each Plexmar common share (the "Exchange Ratio"), with an approximate value of CAD$13.7 million. The Exchange Ratio has been determined based on CAD$0.0600 per Plexmar Share and CAD$2.9849 per Dia Bras Share.
•In addition, all outstanding options and warrants to purchase Plexmar common shares will be exchanged for replacement options and warrants to purchase Dia Bras common shares and will be exercisable to purchase that number of Dia Bras common shares at an exercise price each determined by reference to the Exchange Ratio.
•As an inducement to Dia Bras to enter into the Letter of Intent, Plexmar has granted to the Company an option (the "Concession Option"), whereby it will have the right to acquire the Bolsa del Diablo and Hans XX properties for US$800,000 if certain option events take place.
Prior to having entered into the Letter of Intent, Plexmar and Sociedad Minera Trece Barras S.A.C. ("Trece Barras") agreed to terminate their previously existing mineral rights agreement (the "Mineral Rights Agreement") pursuant to which Trece Barras had been granted the right to provide exploration services and exploitation of high grade gold veins on the Bolsa del Diablo project in exchange for a 2% net smelter return ("NSR") to Plexmar.
Daniel Tellechea, President and CEO of Dia Bras, commented "The acquisition of Plexmar will position Dia Bras to continue increasing its precious metal production going forward."
Guy Bédard, President of Plexmar, commented ''Dia Bras is well funded, has two operating mines in Peru and Mexico and is very familiar with northern Peru. It is management and the Board's view that Plexmar shareholders will benefit from Dia Bras' outstanding local operational expertise. We believe that raising capital in the prevailing difficult markets would have resulted in major dilution of shareholder value."
Pursuant to the Letter of Intent, Plexmar is required to grant the Concession Option to Dia Bras in connection with the definitive agreement for the Acquisition (the "Arrangement Agreement"), with each of the following constituting an option event:
•if the Plexmar Board of Directors withdraws or modifies its recommendation
•if the Plexmar Board of Directors approves or recommends another acquisition proposal
•if Plexmar fails to hold its shareholders meeting on or before July 31, 2012
•if the Acquisition is not completed on or before September 15, 2012, and
•if after terminating the Arrangement Agreement, Plexmar enters into a definitive agreement with respect to a superior proposal, or if Plexmar enters into another acquisition proposal 12 months after termination of the Arrangement Agreement
Bridge Credit Facility:
Additionally, and in a separate transaction, Dia Bras has provided Plexmar with a bridge credit facility (the "Credit Facility") of up to US$1,000,000, the proceeds of which will be used by Plexmar first, to repay outstanding loans, including loans from shareholders, directors and officers, second, to pay amounts due on certain mining concessions and third, for working capital purposes.
The Credit Facility matures in six months (the "Maturity Date") and bears interest at a rate of 15% per annum. Furthermore, at any time prior to the Maturity Date, Dia Bras in its sole discretion may elect to exercise its option under an Option Agreement entered into in connection with the Credit Facility, whereby Sociedad Minera San Miguelito S.A.C. ("San Miguelito") and Minera Ate S.A.C. ("Minera Ate"), both subsidiaries of Plexmar, would grant Dia Bras a 5% NSR royalty on Plexmar's Bolsa del Diablo concessions and an option to acquire up to a 60% interest in Plexmar's Angolos Concession. The exercise price is US$1 million and may, at the discretion of Dia Bras, be offset, in whole or in part, by amounts owing to Dia Bras under the Credit Facility.
Pursuant to the Credit Facility, Dia Bras will take as collateral (a) the shares of Plexmar's subsidiaries, San Miguelito and Minera Ate, (b) the Malin Plant located in Trujillo, Peru and (c) all of the concessions directly or indirectly owned by Plexmar and its subsidiaries.
About Dia Bras
Dia Bras is a Canadian exploration and mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and most recently at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper-zinc-silver) and the Cusi Property (silver-lead) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit.
About Plexmar
Plexmar is a Canadian exploration company focused on acquiring, exploring and developing gold mineral properties. Its main asset is Bolsa del Diablo, a gold project in northern Peru, which covers an area of nearly 9,700 ha and is located near the border with Ecuador. In total, Plexmar owns 100% of 38 concessions and has the right to acquire 100% of 2 more concessions through option agreements.
Additionally, Plexmar owns the Malin Plant located 125 km northeast of Trujillo in northern Peru. The current capacity of the Malin Plant is 125 tpd with plans to expand the total treatment capacity (polymetallic-flotation and gold) to 200 tpd in 2012.
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 news release.
Forward-looking Statements
Except for statements of historical fact, all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
SOURCE Dia Bras Exploration Inc.
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