Robex Cashes $665,815 From the Exercise of Warrants
QUEBEC CITY, QUEBEC -- (Marketwire) -- 03/11/11 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to announce, in addition to the great news released yesterday regarding high grades on Nampala as 3.45 g/t over 25 meters (See yesterday press release: http://www.robexgold.com/en/nouvelles.php?id_nouvelles=42) that a total of 3,522,467 warrants were exercised at a price of $0.15 per common share for total proceeds of 528,370$. The warrants expiration date was February 26th, 2011 and they were issued in connection with a private placement completed in February 2009. Also, a total of 1,249,500 warrants were exercised at a price of $0.11 per common share for total proceeds of 137,445$. The warrants expiration date was October 15, 2011 and they were issued in connection with a private placement completed in February 2009.
Robex continues to move forward with the execution of all necessary tasks required for the ongoing feasibility study. Bumigeme Inc., a Canadian company with a vast experience in the development of dressing procedures and mineral plants operation, has been awarded the contract for performing this feasibility study whose purpose is to define the application modalities of an open-pit mining operation using a 5,000 tons a day cyanide processing plant. The engineering firm Met-Chem has been hired to develop the mine plan for this Feasibility study, as announced in the March 2nd, 2011 press release. Until now, the results of the current drilling campaign which serves to define the north-east extension of the Nampala deposit, are higher than expectations. These results will be included in the revised resource calculation.
The technical content of this press release and the results contained within have been verified by Mr. Jacques Marchand, certified NI 43-101 engineer geologist in charge of resource calculations.
Neither 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.
This news release contains statements that may constitute 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Robex Resources Inc. ('Robex'). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause such differences, without limiting the generality of the following, include: volatility and sensitivity to market metal prices; impact of change in foreign currency exchange rates and interest rate; imprecision in reserves estimates; environmental risks including increased regulatory burdens; unexpected geological conditions; adverse mining conditions; political risks arising from operating in certain developing countries; changes in government regulations and policies, including laws and policies; failure to obtain necessary permits and approvals from government authorities; and other development and operating risks. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Robex will derive therefrom. Forward-looking information is based on the estimates and opinions of Robex's management at the time the information is released and Robex does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Contacts:
Investor relations
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne1