Black Birch Capital Acquisition I Corp.
TSX VENTURE : BBC

September 19, 2011 17:26 ET

Black Birch Changes Its Name to Oremex Gold, Change of Auditor, Change of Year End and Amalgamation With Wholly-Owned Subsidiary

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2011) - Black Birch Capital Acquisition I Corp. (TSX VENTURE:BBC) (the "Corporation" or "Oremex Gold") is pleased to announce that, further to the completion of its qualifying transaction on July 29, 2011, the Corporation will change its name to "OREMEX GOLD INC.", effective September 20, 2011. Effective as of the opening of markets on September 20, 2011, the common shares of the Corporation will commence trading on the TSX Venture Exchange under the name "OREMEX GOLD INC." with the new trading symbol "OAU". The name change was approved by special resolution of the shareholders of the Corporation at its annual and special meeting held on June 30, 2011 and is consistent with the Corporation's announced strategy to focus on its gold mineral properties in Mexico, acquired during its qualifying transaction.

In connection with the name change, the Corporation will amalgamate with its wholly-owned subsidiary which holds the gold properties of the Corporation.

As previously disclosed in the Filing Statement of the Corporation dated July 20, 2011, McGovern, Hurley, Cunningham LLP, Chartered Accountants, will be the auditor of the Corporation going-forward.

The Corporation has also changed its financial year end from December 31 of each year to November 30 of each year. Consequently, the Corporation's next financial year end will be November 30, 2011.

About the Corporation

Through its subsidiaries, Oremex Gold holds gold properties which include the San Lucas, Santa Catarina, Maco and Navidad properties located in Mexico, all of which are considered by Oremex Gold to be promising, early-stage mineral properties. At this stage, preliminary exploration and development work has been conducted on these properties, however there can be no assurances that any significant mineralization will be discovered on any of these properties.

San Lucas is the material property of Oremex Gold, and is the subject of a technical report filed on National Instrument Form 43-101F1. The San Lucas property is located 86 kilometres north of the city of Durango and accessed via paved highway. The property consists of seven mineral concessions covering approximately 1,235 hectares. San Lucas consists of a series of northeast trending gold and silver mineralized shear zones in volcanic and sedimentary rocks. Oremex Gold has designed a drilling program based on field sampling and mapping. Field work has been focused to define drill targets to test the gold mineralization present in a silicified dacite dike, which outcrops extensively on the concessions. A total of 220 samples have been collected along the silicified dacite dike, which also has cross cutting mineralized dikes, significantly adding to tonnage potential. The dike has three more intensely mineralized segments; the 330m long North zone reports silver grades to 1,856 g/t and gold grades to 1.06 g/t, the 800m long Central Zone reports gold grades to 1.68 g/t and the 180m long South Zone reports gold grades to 0.82 g/t. The mapped strike length of the silicified dacite dike is 2.0 km. Access rights to the San Lucas property for a period of 30 years, renewable at the holder's option for another 30 years, have been secured. The work report was completed under the supervision of William Feyerabend, a Registered Geologist and a Qualified Person as defined in National Instrument 43-101.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

Cautionary Note Regarding Forward-looking Statements

Certain statements contained in this news release may constitute forward-looking information, within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in the Corporation's public filings, Forward-looking information and anticipated events or results and can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other public filings of the Corporation, and include the ultimate availability and final receipt of required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and other sources of financing and associated cost of funds, availability of a qualified work force, availability of manufacturing
equipment, no material changes to the tax and regulatory regime and the ultimate ability execute its business plan on economically favorable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other filings of the Corporation at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, the Corporation does not intend, and does not undertake any obligation to update any forward looking information to reflect, among other things, new information or future events.

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

Contact Information

  • Oremex Gold Inc.
    John Carlesso
    Executive Chairman
    416.309.4321
    info@oremex.com