EPM Mining Ventures Inc.

June 20, 2011 14:08 ET

EPM Mining Ventures Inc. to Commence Trading on the TSX Venture Exchange

TORONTO, ONTARIO--(Marketwire - June 20, 2011) - EPM Mining Ventures Inc. (TSX VENTURE:EPK) ("EPM") is pleased to announce that effective at the opening of trading on the TSX Venture Exchange ("TSX VENTURE") on June 21, 2011, the common shares of EPM (the "EPM Common Shares") will commence trading on the TSXV under the trading symbol "EPK".

Upon listing, EPM will have approximately 50.9 million EPM Common Shares and approximately 54.3 million non-voting common shares (the "EPM Non-Voting Shares") outstanding. The EPM Non-Voting shares are convertible into EPM Common Shares on a one-for-one basis and if all were converted, EPM would have approximately 105.2 million EPM Common Shares outstanding.

This follows the previously announced acquisition of 44170 Yukon Inc. ("BidCo") by EPM. On April 5, 2011, Bidco participated in a federal lease auction conducted by the U.S. Department of the Interior, Bureau of Land Management for land in the Known Potash Leasing Area at Sevier Lake in Utah. Bidco was the high bidder and was granted rights to 95,171.96 acres (the "Project Lands"). Prior to its acquisition of the Project Lands, Bidco completed a brokered financing through Cormark Securities Inc. of approximately C$30,100,000 that provided it with the funds necessary to bid and pay for the Project Lands. The private placement was for subscription receipts at a price of $0.67 per subscription receipt. The subscription receipts were converted into common shares and class B common shares (non-voting) of BidCo following the occurrence of certain escrow release conditions. Following payment in full for the leases, Bidco has approximately $9 million in cash remaining from the financings.

EPM also acquired a 40% interest in Emerald Peak Minerals, LLC ("Emerald Peak") which controls 6,409 acres of land leased from the state of Utah ("State Leases") contiguous to the federal lands described above. In addition, EPM entered into a commercial arrangement whereby it has assumed the operation of the State Leases and responsibility for the marketing and sale of potash and related minerals produced in respect of the State Leases. Emerald Peak was granted a 7.5% royalty on sales of potash produced from lands which comprise the State Leases.

"We are excited to begin trading on the TSXV" said Lance D'Ambrosio, Chief Executive Officer. "We have begun a drilling program and other engineering work with the intention of producing a "bankable" feasibility study. We look forward to providing the results to our shareholders over the next several months".

Please refer to the Listing Application of EPM dated June 6, 2011, which is available on EPM's profile on SEDAR at www.sedar.com, for additional details with respect to EPM.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to EPM's future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward- looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of EPM to be materially different from those expressed or implied by such forward-looking information, including risks associated with the future business and development of the company and the actual terms of any agreement that would be entered into in respect of the possible acquisition described in this press release. Although EPM has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. EPM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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 this release.

Contact Information

  • EPM Mining Ventures Inc.
    Lance D'Ambrosio
    Chief Executive Officer
    (801) 288-3885