Ressources Minières Pro-Or Inc.

Ressources Minières Pro-Or Inc.

August 12, 2009 15:47 ET

Ressources Minieres Pro-Or Inc.: Private Placement of $500,000

MONTREAL, QUEBEC--(Marketwire - Aug. 12, 2009) - Ressources Minieres Pro-Or Inc. (POI) (TSX VENTURE:POI) wishes to announce that it is proceeding with a private placement of a maximum of 100 units at $5,000 per unit for a total of $500,000. This private placement is being offered to qualified investors only. Each unit is made up of i) 20,000 class "A" shares at a price of $0.25 each; and ii) 10,000 share purchase warrants, each warrant entitling the holder to purchase one class "A" share at $0.35, for a 12-month period.

Proceeds from the private placement will be entirely used for working capital. Shares issued pursuant to the offering will be subject to a four-month hold period.

The company is not planning to pay any finders' fee on the transaction, which is subject to regulatory approval.

"About Pro-Or "

The pilot plant located in St-Augustin-de-Desmaures near Quebec, has entered into the phase of production of Platinum Group Metals (PGM). The management of Pro-Or has concluded an agreement with a Company from South Africa with two objectives : Pro-Or had signed an agreement granting FMO an option to acquire a license to the use, in South Africa, of its Chromite Upgrading and PGM recovery technologies. The second agreement with FMO relates to the assistance and support of the commercial development of Pro-Or's plant located in St. Augustin, Quebec, for the recovery of PGM, which will be an important asset in fast tracking Pro-Or's objective to achieve its goal for a full-scale plant in Quebec.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Contact Information