Canada Business News and Press Releases
(EMAILWIRE.COM, August 18, 2008 ) TORONTO, ONTARIO-- VIPR Industries Inc. (Other OTC:VIPR.PK - News)(Frankfurt:VIN.F - News) ("VIPR") announces that it is actively pursuing and intends to complete a financing to raise gross proceeds of up to $1,200,000 via private placement. Proceeds will be used to fund further exploration of VIPR Industries' gold and uranium properties, including a Drilling Program at its Singida Gold Property presently scheduled for early 2009, in addition to working capital and corporate purposes.
This week VIPR Industries reported positive phase I exploration results from a grab sample program at its Singida Gold Property confirming gold mineralization. Grab samples returned positive assay results of up to 4.86 grams of gold per tonne. Third-party aerial magnetic surveys have highlighted possible gold anomaly hot zones and drill targets on the property, which lies directly adjacent to the Shanta Gold Property. In addition airborne radiometric surveys of the Company's Itigi Manyoni Uranium Property have identified uranium anomalies indicating strong potential for significant uranium mineralization, as announced in July.
Mr. Mike Gerstner, President & CEO of VIPR Industries, commented: "With preliminary exploration work yielding positive results we are eager to proceed to the next phase of Exploration." Mr. Gerstner further added, "We are currently in positive discussions with institutional investors and private accredited investors outside of the United States. Some of the interested parties may require the company co-list on the TSX Venture Exchange.
A third party has agreed to act as agent for the private placement and will receive a cash commission of 10% on the gross proceeds of any financing raised. Completion of the financing will be subject to certain conditions including SEC approval, and all securities issued pursuant to the financing will be subject to a hold period. Should any investors be interested in participating on the company's subscription offering, please feel free to contact the company at its head office for further information.
About VIPR Industries
VIPR Industries Inc. is a precious metals exploration and development company focused on gold, uranium and other high quality precious metal resources and reserves through mergers, acquisitions and resource development.
For more information please visit http://www.viprindustries.com.
Cautionary "Safe Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. Some of the information included in this press release and other documents by VIPR Industries Inc. (as well as information included in statements made by its representatives, about information about the business it is engaged in or proposes to engage in or about acquisitions) may contain forward looking statements. Such statements may refer to other adjacent properties and company's and their announced / reported / released estimates. Although VIPR is encouraged from its property(s), there is no assurance that the same or similar results, or mineralization will be found on VIPR's property(s). Forward looking statements that do not relate strictly to historical or current facts, often will be phrased in the future tense and may include the words "may," "could," "should," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan" or other words or expressions of similar meaning. Forward looking statements that relate to VIPR Industries Inc. ("VIPR") or its present or proposed business are based on VIPR's current beliefs and expectations about future events and include statements that reflect management's beliefs, plans, objectives, goals, expectations, anticipations and intentions with respect to VIPR's financial condition, results of operations, future performance and business, including statements relating to VIPR's business strategy and VIPR Industries current and future development plans. Factors that could cause actual results to differ materially from projections include, among others, precious metals prices, decisions and activities of the operator of the various properties, unanticipated grade, geological, metallurgical, processing or other problems the operator may encounter, changes in project parameters as plans continue to be refined, economic and market conditions, as well as other factors described elsewhere in this press release or any other filings submitted by VIPR. In addition, acquired royalty interests on certain projects are subject to risks associated with conducting business in a foreign country, including application of foreign laws to contract and other disputes, foreign environmental laws and enforcement and uncertain political and economic environments. Most of these factors are beyond the Company's ability to predict or control. The Company disclaims any obligation to update any forward-looking statement made herein. Readers are cautioned not to put undue reliance on forward-looking statements.
VIPR Industries Inc.
Source: VIPR Industries Inc.
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Pacific Gold Corp.
Current Price (0.01)
TORONTO, - Pacific Gold Corp. (OTCBB: PCFG - News) announced today that its subsidiary, Nevada Rae Gold has begun the process for the previously announced plant modifications at the Black Rock Canyon Mine.
Evergreen Solar, Inc.
Current Price (9.58)
MARLBORO, Mass.-- Evergreen Solar, Inc. (NasdaqGM: ESLR - News) announced today that it has completed the early redemption of its 4.375% convertible subordinated notes due 2012. The aggregate principal amount of the notes outstanding was $90 million.
Eldorado Gold Corporation
Current Price (7.02)
VANCOUVER, BRITISH COLUMBIA -- (all amounts in Canadian dollars) Eldorado Gold Corporation (Toronto:ELD.TO - News)(EGO - News) announced the purchase of an additional 2,000,000 shares of Brazauro Resources Corporation ("Brazauro") (representing approximately 2.3% of Brazauro's issued and outstanding common shares at July 31, 2008) in several market transactions on the TSX Venture Exchange at a price per share of $0.42.
Agnico-Eagle Mines Limited
Current Price (48.50)
TORONTO, - Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") announced that it purchased 12,222,222 common shares of Stornoway Diamond Corporation ("Stornoway") at a price of C$0.90 per common share from treasury. Stornoway used the proceeds of the private placement to redeem the C$10 million principal amount of convertible debentures held by Agnico-Eagle and to pay to Agnico-Eagle a C$1 million amendment fee in connection with the amendment of the debentures to permit early redemption. Agnico-Eagle received an additional 527,947 common shares of Stornoway in satisfaction of accrued but unpaid interest on the debentures prior to their redemption. As a result of the transactions, Agnico-Eagle increased its holdings in Stornoway from 27,520,809 common shares (approximately 13.6% of the issued and outstanding common shares) to 40,270,978 common shares (approximately 17.7% of the issued and outstanding common shares). Agnico-Eagle acquired the Stornoway shares for investment purposes only and has no present intention to acquire further Stornoway securities and may, from time to time, increase or decrease its ownership of or control over securities of Stornoway in response to market conditions, the business and prospects of Stornoway or other factors.
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