Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

December 11, 2009 19:17 ET

Cogitore Resources Inc. Confirms Submission of Offer to Acquire Assets

TORONTO, ONTARIO--(Marketwire - Dec. 11, 2009) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Cogitore Resources Inc. (the "Company") (TSX VENTURE:WOO) confirmed today that it has an outstanding offer to acquire certain assets of Campbell Resources Inc. and MSV Resources 2007 Inc. ("Campbell/MSV"), including certain exploration and mining properties in the Chibougamau area in Quebec, a processing plant and mining equipment. The offer was submitted in response to a call for tenders in the context of proceedings initiated by Campbell/MSV under the Companies' Creditors Arrangement Act.

No decision regarding the Company's offer has been made at this time. A motion before the Quebec Superior Court has been scheduled for January 13, 2010 at the request of one of Campbell/MSV's creditors to approve the Company's offer. However, there is no assurance that the Company's offer will be accepted.

The Company's offer is consistent with its previously disclosed intention to focus its resources on exploration and development in the Abitibi Belt of Quebec.

Until such time as the Company's offer is accepted or rejected by the Quebec Superior Court, the Company intends to continue its business in the ordinary course, including scheduled capital expenditures and financings.

Forward Looking Statements

Certain statements contained in this news release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to our future outlook and anticipated events or results. In particular, statements relating to the proposed acquisition of certain assets are forward-looking. In some cases, forward-looking information can be identified by terms such as "may", "will", "propose", "intends" or other similar expressions concerning matters that are not historical facts. These statements are based on the Company's current expectations and assumptions that could prove to be incorrect. The forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. The acquisition of the assets is subject to a number of approvals and conditions, which may not be forthcoming, or the assets, production or opportunities anticipated by the acquisition may not be realized. Additional factors are also described or referred to under the headings "Property and Financial Risk Factors Affecting Financial Instruments" and "Other Risk and Uncertainties" of the Company's Management's Discussion and Analysis for the quarter ending September 30, 2009, all of which are incorporated by reference herein and are available at SEDAR at www. sedar.com. We caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events except where required by applicable laws.

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.

Contact Information

  • Cogitore Resources Inc.
    Gerald Riverin
    President & CEO
    819-764-6666
    or
    Cogitore Resources Inc.
    Mark Goodman
    Chairman
    416-924-9893
    http://www.cogitore.com/