TORONTO, Sept. 5, 2014 /CNW/ - Sulliden Mining Capital
Inc. (TSX: SMC) ("Sulliden" or the "Company") announces that by
share purchase agreement with QMX Gold Corporation (QMX: TSXV), it
has agreed to acquire 1,180,505 common shares (the "Purchased
Shares") of Falco Resources Ltd. ("Falco") at $0.45 per share for an aggregate purchase price
of $531,227.25, representing
approximately 1.6% of the issued and outstanding common shares of
Falco.
In addition, Sulliden intends to acquire, subject to the
policies of the TSX Exchange, an additional 965,868 common shares
(the "Escrowed Shares") of Falco that are subject to an escrow
agreement at a price of $0.27 per
common share.
Investment
Neither Sulliden, nor any other persons acting jointly or in
concert with Sulliden, previously held any other securities of
Falco.
Sulliden intends to hold the Falco common shares for investment
purposes. Other than the Purchased Shares and the Escrowed Shares,
Sulliden has no current intention to increase the beneficial
ownership of, or control or direction over, additional securities
of Falco.
About Falco Resources Ltd.
Falco is a resource exploration company and owner of mineral
rights to 14 former mines within a 700 km2 land package in the
Abitibi region of Québec, Canada.
Falco's principal property is the Horne mine complex, which was
operated by Noranda from 1927 to 1976 and produced 11.6 million
ounces of gold and 2.5 billion pounds of copper. A maiden 43-101
mineral resource estimate for the Horne 5 deposit delineated an
initial inferred resource totaling 25.3 million tonnes grading 2.64
g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz
Au contained (see Falco's press release dated March 4, 2014 for more details).
About Sulliden Mining Capital
Sulliden Mining Capital is a venture capital company focused on
acquiring and advancing brownfield, development-stage and early
production-stage mining projects in the Americas.
Sulliden Mining Capital Inc.
On behalf of the
Board
"Justin Reid"
President & Chief Executive Officer
Cautionary statement regarding forward-looking
information
This press release contains "forward looking information"
within the meaning of applicable Canadian securities legislation.
Forward looking information includes without limitation, statements
regarding the acquisition of Falco common shares, future capital
and operating expenses, future metal prices, the future
financial or operating performance of the Company, the prospective
mineralization of any properties to be acquired by the
Company, and anticipated acquisitions. 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: general
business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration
activities; other risks of the mining industry and the risks
described in the annual information form of the Company. 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.
SOURCE Sulliden Mining Capital
