Blue Note's spinoff GeoVenCap resumes trading today on the TSX Venture Exchange under symbol GOV
26.03.2012 | CNW
MONTREAL, March 26, 2012 - Blue Note Mining Inc. ('Blue Note') is pleased to announce that GeoVenCap Inc. resumes trading today on the TSX Venture Exchange under symbol GOV following completion of the previously announced qualifying transaction.Blue Note completed its spinoff transaction with GeoVenCap on March 21, 2012 upon which Blue Note sold all of its New Brunswick mineral properties to GeoVenCap for a sale price of $7,946,438 representing the book value of the properties payable in 11,120,000 common shares and 4,772,876 special warrants of GeoVenCap at a deemed value of $0.50 per share.
For more information on the transaction, visit GeoVenCap's website at www.geovencap.com and see Blue Note's press releases of January 10, January 20, March 5 and March 22, 2012.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with gold properties located in the prolific Val d'Or region of Quebec. Blue Note also holds significant positions in the share capital of Amex Exploration (AMX.V) and GeoVenCap (GOV.V).
Forward-Looking Statements. This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
'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.'
CONTACT:
Blue Note Mining Inc.
Jean Mayer, Executive Vice President
(514) 486-3095 x236
jmayer@bluenotemining.ca
www.bluenotemining.ca