Mr. Lance D'Ambrosio

August 23, 2011 14:53 ET

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

TORONTO, ONTARIO--(Marketwire - Aug. 23, 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") 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 entered into a share purchase agreement (the "SPA") with Gusiute Holdings (UK) Limited ("Gusiute") pursuant to which he agreed to sell 2,415,367 Common Shares of EPM to Gusiute at a price of CDN$2.00 per share. Following the completion of the sale, Mr. D'Ambrosio will own and control 12,258,460 Common Shares, representing approximately 11.65% of the issued and outstanding Common Shares on an undiluted basis. As of the date hereof, Mr. D'Ambrosio owns and controls 14,673,827 Common Shares, representing approximately 13.95% of the issued and outstanding Common Shares on an undiluted basis. A press release announcing the entering into of the SPA was issued by EPM on August 23, 2011.

The securities are being sold by Mr. D'Ambrosio to capitalize on his investment in EPM. 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 securityholdings 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 or contact Mr. D' Ambrosio at telephone number: (801) 485-0223.

Note: Disclosure regarding the percentage of outstanding Common 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
    2150 South 1300 East
    Suite 350
    Salt Lake City, UT 84106
    (801) 485-0223