MONTREAL,
April 15, 2013 /CNW Telbec/ -
Geovencap Inc. (TSXV: GOV) ("Geovencap" or the "Company") has
initiated a review process to consider alternatives in relation to
its operations. Due to the difficult market conditions, the Company
has been unsuccessful in raising sufficient capital to advance its
projects and might be unable to continue its operations as a going
concern.
Accordingly the Company is pursuing discussions
to preserve value through a strategic partnership, joint venture
agreements or a sale of assets in the hope of restoring normal
operations. There are no assurances that the process will result in
a transaction or, if a transaction is undertaken, as to the terms
or timing of such a transaction. In this context, the Company may
have to postpone the filing of its audited financial statements for
the year ended Dec. 31, 2012, which
are due to be filed by April 30,
2013.
About GeoVenCap
GeoVenCap is a mineral company focused on
exploration principally for silver and gold in northern
New Brunswick. Its priority is to
explore and develop four highly prospective projects located
between 30 and 105 km west and southwest of the city of
Bathurst, New Brunswick: the
California Lake Silver Project, the Upsalquitch Gold Project, the
Williams Brook Gold Project and the Bathurst Mining Camp - Base
Metal Project. These projects are in close proximity of mines and
advanced projects owned by Xstrata, Votorantim and Trevali
Mining.
Forward-Looking Statements. This news
release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws
that involve risks and uncertainties. Although the company believes
the expectations reflected in such forward-looking statements are
based on reasonable assumptions, it can give no assurances that its
expectations will be achieved. Factors that could cause actual
results to differ materially from expectations include the effects
of general economic conditions, actions by government authorities,
uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products
and competitive pressures. These factors and others are more fully
discussed in Company filings with Canadian securities regulatory
authorities.
"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."
SOURCE GeoVenCap Inc.