TORONTO, Dec. 19, 2014 /CNW/ - CWN Mining Acquisition
Corporation ("CWN") (TSXV: CWN.P) is pleased to announce
that it has received conditional approval from the TSX Venture
Exchange ("TSXV") for the closing of its Qualifying
Transaction, as defined under TSXV Policy 2.4 – Capital Pool
Companies ("Policy 2.4") and that further to its press
release dated October 31, 2014, CWN
has filed its filing statement in connection with its Qualifying
Transaction (the "Filing Statement").
As previously announced, CWN entered into an option agreement
dated October 31, 2014 with YES
Exploration Syndicate Inc ("YES Exploration") granting CWN
an option to acquire a 100% undivided interest, net of a 2% royalty
reserved for YES Exploration, in certain mining claims situated in
the Whitehorse Mining District, Yukon,
Canada, and generally and collectively known as the "TOP
Project" (the "Qualifying Transaction"). Assuming all
conditions for closing are satisfied, CWN expects to close the
Qualifying Transaction on or about January
5, 2015. CWN also expects to close its previously announced
private placement of up to 8,000,000 common shares at a price of
$0.50 per Share for aggregate
proceeds of up to $4,000,000
concurrently with the closing of the Qualifying Transaction. The
Filing Statement is available under CWN's profile on the System for
Electronic Document Analysis and Retrieval ("SEDAR") at
www.sedar.com.
About CWN
CWN is a capital pool company within the meaning of Policy 2.4
of the TSXV, incorporated under the Canada Business Corporations
Act with its head office in Vancouver, British Columbia. Following
completion of the Qualifying Transaction, the business of CWN will
be to manage and operate the TOP Project.
Completion of the Qualifying Transaction is subject to a
number of conditions, including but not limited to, final TSXV
acceptance. There can be no assurance that the Qualifying
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in Filing
Statement filed in connection with the Qualifying Transaction, any
information released or received with respect to the Qualifying
Transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool
company should be considered highly speculative.
Neither TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
This press release contains forward-looking information
within the meaning of Canadian securities laws. Such
information includes, without limitation, information regarding the
completion of the Qualifying Transaction. Although CWN
believes that such information is reasonable, it can give no
assurance that such expectations will prove to be correct. Forward
looking information is typically identified by words such as:
believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. CWN cautions investors that any forward-looking
information provided by CWN are not guarantees of future results or
performance, and that actual results may differ materially from
those in forward looking information as a result of various
factors, including, but not limited to: CWN's ability to complete
the proposed Qualifying Transaction; the state of the financial
markets for CWN's equity securities; and other risks and factors
that CWN is unaware of at this time. The reader is referred to
CWN's most recent annual and interim Management's Discussion and
Analysis for a more complete discussion of all applicable risk
factors and their potential effects, copies of which may be
accessed through CWN's page on SEDAR at www.sedar.com.
SOURCE CWN Mining Acquisition Corporation