Mosquito Consolidated Gold Mines Reports February Warrants Exercised
15.02.2011 | The Newswire
Vancouver, Canada, February 15, 2011. (via Thenewswire.ca) - Mosquito Consolidated Gold Mines Limited (TSX.V: MSQ; US OTC: MQCMF - "Mosquito" or the "Company") announces that 11,584,365 (99.6%) warrants at a price of $0.30 per warrant have been exercised for a total proceeds of $3,475,310.Brian McClay, President and CEO of Mosquito commented, "We wish to express our appreciation to all our warrant holders for their continued support and confidence in Mosquito and our projects. The exercise of the warrants provides the Company with capital to continue our exploration work in Idaho, including our recently permitted drilling program at the 100% owned Cumo Mo-Cu-Ag project, as well as providing some additional working capital."
On Behalf of the Board
MOSQUITO CONSOLIDATED GOLD MINES LTD.
Brian McClay President
About Mosquito Consolidated Gold Mines
Mosquito Consolidated Gold Mines Limited is a mining exploration and development company with a diverse portfolio of high potential precious and base metals projects, located in low political risk environments in North America. The Company's primary focus is developing its Idaho-based CuMo project, one of the world's largest molybdenum deposits. For more information about the company, please visit www.mosquitogold.com and www.cumoproject.com
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSXVENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the CuMo Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.
United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.
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