Pitchblack Resources Announces Issuance of Shares for Debt
23 Dezember 2010 - 3:08PM
Marketwired
Pitchblack Resources Ltd. (TSX VENTURE: PIT) ("Pitchblack" or the
"Company") is pleased to announce that it has closed its previously
announced debt settlement by issuing 266,666 common shares in full
settlement of $70,000 in outstanding net debt. These shares are
subject to a statutory hold period that expires on April 17, 2011.
The Company also announces that it has granted 1,600,000 stock
options to various officers, directors and consultants of the
Company. The options have an exercise price of $0.40 and shall
expire five years from the date of grant. The options shall vest
immediately, subject to the four month regulatory hold period. The
grant of options is subject to regulatory approval.
About Pitchblack Resources Ltd.
Pitchblack has uranium, coal and gold assets in the Yukon
Territory, Canada. The Company is currently reviewing the potential
of these properties and may seek to sell its interest in the
properties.
FORWARD LOOKING INFORMATION
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements with respect to the future financial or operating
performance of the Company and its projects, exploration prospects,
requirements for additional capital and regulatory approvals.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to:
financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the
actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; competition; future prices of mineral
prices; failure of plant, equipment or processes to operate as
anticipated; accidents, labour disputes and other risks of the
mining industry; and, delays in obtaining governmental approvals or
required financing or in the completion of activities. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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: For further information or to register for
distribution for future press releases: Pitchblack Resources Ltd.
Doug Currie President & Chief Executive Officer 416-861-5931
info@cashminerals.com
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