Confederation Minerals Announces Receipt of Court Order for Distribution of Common Shares of Magna Resources to Confederation Shareholders
(via Thenewswire.ca)
TSX-V Symbol: CFM
Vancouver, B.C., December 19, 2012. Confederation Minerals Ltd. ("Confederation", or the "Company") is pleased to announce that, further to the Company's news release dated November 27, 2012, the Company has a received an order from the Supreme Court of British Columbia approving the distribution of 21,086,656 common shares (the "Magna Shares") in the share capital of Magna Resources Ltd. ("Magna"), being a majority of its approximate 56% interest in Magna, on a pro rata basis, to the holders of record as of November 27, 2012 (the "Confederation Shareholders") of common shares (the "Confederation Shares") of Confederation.
The Company expects to complete the distribution of Magna Shares on December 24, 2012.
About Confederation Minerals
Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. holds an option agreement to acquire up to 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario as well as 100% ownership in another property in the Red Lake Mining District of Ontario.
On Behalf of the Board:
"Brian Bapty"
Brian Bapty, Ph.D.
President and Director
CORPORATE INQUIRIES
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Brian Bapty, President and Director
604-652-3950
brian.bapty@confederationmineralsltd.com
www.confederationmineralsltd.com
Neither the 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.
Forward-Looking Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "proposes", "project", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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