BACANORA MINERALS LTD.
TSX VENTURE : BCN.P

April 01, 2010 12:41 ET

Bacanora Announces Filing Statement and Scheduled Closing Date for Qualifying Transaction

CALGARY, ALBERTA--(Marketwire - April 1, 2010) - BACANORA MINERALS LTD. (the "Corporation" or "Bacanora") (TSX VENTURE:BCN.P), a capital pool company, is pleased to announce that a Filing Statement prepared in accordance with the requirements of the TSX Venture Exchange (the "Exchange") in connection with its previously announced proposed Qualifying Transaction (consisting of the acquisition of Mineramex Limited ("Mineramex"), details of which are set forth in press releases dated February 4, 2010 and July 20, 2009) has been filed with the Exchange and the applicable Canadian securities regulators and is available under Bacanora's corporate profile at www.sedar.com. The Corporation further announces that the Exchange has granted conditional approval in respect of the proposed Qualifying Transaction. The Corporation has established April 9, 2010 as the date for closing of the Qualifying Transaction and the concurrent financing, pursuant to which it has received irrevocable subscriptions for an aggregate of 8,045,110 common shares of Bacanora, for aggregate gross proceeds of $2,011,278.

Other Information

Except for statements of historical fact relating to the Corporation, the information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither 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 the release.

Contact Information

  • Bacanora Minerals Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (403) 697-4005
    (403) 263-0271 (FAX)