Mr. Lance D'Ambrosio

May 30, 2011 12:45 ET

Acquisition of Shares of EPM Mining Ventures Inc. by Mr. Lance D'Ambrosio

TORONTO, ONTARIO--(Marketwire - May 30, 2011) - This press release is issued by Mr. Lance D'Ambrosio, pursuant to the early warning requirements of National Instrument 62-103 with respect to common shares ("Common Shares") and non-voting common shares ("Non-Voting Shares") of EPM Mining Ventures Inc. ("EPM"), a reporting issuer in certain jurisdictions in Canada. In accordance with such early warning requirements, Mr. D'Ambrosio is required to report certain information in respect of its holdings of securities of EPM.

Mr. D'Ambrosio announced today that he has acquired ownership and control of 13,943,827 Non-Voting Shares in addition to the 730,000 Common Shares already owned, representing approximately 26% of the issued and outstanding Non-Voting Shares and 1% of the issued and outstanding Common Shares on an undiluted basis. The Non-Voting Shares are convertible into Common Shares on a one-for-one basis. If Mr. D'Ambrosio were to convert its Non-Voting Shares to Common Shares he would have ownership and control of 14,673,827 Common Shares, representing approximately 23% of the issued and outstanding Common Shares.

Mr. D' Ambrosio acquired the Non-Voting Shares of EPM upon the completion of the amalgamation (the "Amalgamation") pursuant to an amalgamation agreement dated April 18, 2011 between EPM, 44907 Yukon Inc. and 44170 Yukon Inc. ("BidCo"). A press release announcing the completion of the Amalgamation was issued by EPM on May 26, 2011. Prior to the Amalgamation, Mr. D'Ambrosio had acquired 13,943,827 class B common shares of BidCo in exchange for the transfer of certain drill data to BidCo. Pursuant to the Amalgamation, each class B common share was exchanged for one Non-Voting Share on May 26, 2011. Immediately prior to the Amalgamation, Mr. D'Ambrosio owned and controlled 730,000 Common Shares of EPM.

The securities were acquired for investment purposes. Mr. D' Ambrosio will evaluate his investment in EPM from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in EPM as circumstances require. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to the EPM profile on the SEDAR website www.sedar.com or contact Mr. D' Ambrosio at telephone number: (801) 288-3885.

Note: Disclosure regarding the percentage of outstanding Common Shares and Non-Voting Shares is based on information provided by EPM.

Note on Forward-Looking Information

This press release includes certain forward-looking information, including statements relating to Mr. D'Ambrosio's interests in EPM and his future intentions in respect thereof, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. This forward-looking information reflects current views with respect to current and future events and circumstances and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions, including those relating to changes in business, performance and markets. Actual results may differ materially from information contained in the forward-looking information as a result of a number of those factors. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes Mr. D'Ambrosio undertakes no obligation to publicly update or revise any forward-looking information contained in this press release, except as required by applicable laws.

Contact Information

  • Mr. Lance D'Ambrosio
    1100 East 6600 South #305
    Salt Lake City, UT 84121
    (801) 288-3885