Actus Minerals Corp.

September 24, 2014 09:30 ET

Actus Minerals-Consolidation, Name Change and Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 24, 2014) -


Actus Minerals Corp. (TSX VENTURE:AAC) (the "Company") the Company wishes to advise that it has filed with the Exchange all necessary documents to affect its previously announced consolidation of its current common shares on a five (5) current common shares into one (1) new (5:1) post consolidated share. At the same time, the Company is also seeking to change its name from Actus Minerals Corp., to Arak Resources Ltd., and anticipates that its trading symbol will remain AAC.

The Company has filed for approval, final documentation for its previously announced private placement of 6,000,000 units. The Company was able to successfully complete 6,330,000 units for gross proceeds of $330,000 to be used for general overhead and operating expenses. Each Unit consists of one common share and one, three-year share purchase warrant entitling the holder to purchase an additional post-consolidated common share at a price of $0.05 per share in years one and two and thereafter at $0.10 until expiry.

The Company engaged the services of Ariel Partners LLP of London, England to assist in the non-brokered financing and to that end will be paying $19,022.30 in cash and issuing 380,446 finders' warrants, the finders' warrants having the same terms and conditions as the Unit warrants.

All securities issued pursuant to the private placement will be subject to a four month hold period trading restriction.


Carl von Einsiedel, 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 release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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