Troymet Provides Corporate Strategy Update
February 19 2014 - 8:01AM
Marketwired
Troymet Provides Corporate Strategy Update
CALGARY, ALBERTA--(Marketwired - Feb 19, 2014) - Troymet
Exploration Corp. (TSX-VENTURE:TYE) ("Troymet") is pleased to
provide a corporate strategy update to its shareholders.
Since completing the sale of the Key property to New Gold Inc.
in the fall of 2014, Troymet's directors and officers have been
considering various opportunities for Troymet and developing a plan
to take advantage of the current state of the depressed mineral
industry, and in particular, the current prices for exploration
properties in the junior mineral exploration industry. As a result,
Troymet is actively seeking potential opportunities to acquire new,
quality mineral projects. Troymet believes that the current state
of the depressed junior mineral exploration industry, coupled with
Troymet's strong financial position, provides Troymet with a unique
opportunity to pursue potential acquisitions of mineral projects at
attractive prices. Notwithstanding the above, currently, Troymet
does not have any agreement (whether binding or non-binding), or
any other undisclosed material information, in relation to any
potential acquisition of a mineral project.
Troymet is also evaluating how best to advance its existing
portfolio of properties especially the Golden Eagle project with
its gold, silver and base metals exploration opportunities. In
addition, Troymet is also seeking out potential opportunities for
shell companies that have cash reserves to complete private
placements for securities of Troymet (a "Shell Private
Placement").
If Troymet determines to proceed with an acquisition of a
mineral project at a future date, depending on market conditions,
Troymet would likely complete a 10 old for 1 new common share
consolidation (approved by shareholders at Troymet's April 19, 2013
shareholder meeting) in conjunction with the completion of any
potential acquisition.
A further press release will be issued in the event that Troymet
enters into any agreement or has material information in respect of
an acquisition or Shell Private Placement, or the board of
directors of Troymet determines to implement a consolidation of
Troymet's common shares. There is no guarantee that any potential
acquisition will be pursued by Troymet, or that any potential
acquisition, Shell Private Placement or any consolidation will be
completed at all.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
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 news release.
This news release may contain certain forward-looking
information. All statements included herein, other than statements
of historical fact, are forward-looking information and such
information involves various risks and uncertainties. In
particular, this press release contains forward-looking information
in respect of potential acquisitions of mineral projects by
Troymet, potential Shell Private Placements and a potential
consolidation of the common shares of Troymet. There can be no
assurance that such information will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such information. This forward-looking information
reflects Troymet's current beliefs and is based on information
currently available to Troymet and on assumptions Troymet believes
are reasonable. These assumptions include, but are not limited to:
the current share price of Troymet's common shares and the share
price of Troymet's common shares in the event that Troymet
completes a consolidation; the ability of Troymet to discover
viable acquisition targets or Shell Private Placement targets and
the ability of Troymet to negotiate acquisition agreements or
private placement agreements on terms acceptable to Troymet;
Troymet's general and administrative costs remaining constant; and
the market acceptance of Troymet's acquisition strategy.
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 Troymet to be
materially different from those expressed or implied by such
forward-looking information. Such risks and other factors may
include, but are not limited to: the early stage development of
Troymet and its projects; general business, economic, competitive,
political and social uncertainties; capital market conditions and
market prices for securities, junior market securities and mining
exploration company securities; commodity prices; the actual
results of current exploration and development or operational
activities; competition; changes in project parameters as plans
continue to be refined; accidents and other risks inherent in the
mining industry; lack of insurance; delay or failure to receive
board or regulatory approvals; changes in legislation, including
environmental legislation, affecting Troymet; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; and lack of qualified, skilled labour or
loss of key individuals. A description of other assumptions used to
develop such forward-looking information and a description of other
risk factors that may cause actual results to differ materially
from forward-looking information can be found in Troymet's
disclosure documents on the SEDAR website at www.sedar.com. Troymet
does not undertake to update any forward-looking information except
in accordance with applicable securities laws.
Investor RelationsAnthony
Zelen1-888-456-4952anthony@senergyir.comwww.troymet.com
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