EPM Mining Ventures Inc.

December 15, 2010 15:33 ET

EPM Mining Ventures Inc.-Update

TORONTO, ONTARIO--(Marketwire - Dec. 15, 2010) - EPM Mining Ventures Inc. ("EPM") (Canada – OTC) announced today that it is in advanced discussions to acquire a private company that is seeking to acquire certain real property leases in Utah in respect of a fertilizer asset. This private company has now completed a brokered financing that will provide it with the funds necessary to make a bid on such leases.

EPM announced in March 2010 that it was seeking opportunities to acquire fertilizer assets, mining properties, energy assets or oil and gas assets. It has further advised that it was seeking an opportunity in the fertilizer business. These negotiations are in furtherance of that opportunity.

The fertilizer asset that the private company may acquire through these leases does not have any current mineral resources or mineral reserves. Any agreement that would be entered into to acquire the private company would be conditional on a successful bid on the leases by the private company and the listing of EPM's shares on the TSX Venture Exchange, among other conditions. If successful, the private company is also expected to acquire an interest in an entity that controls certain leases adjacent to the fertilizer asset under consideration. It is currently anticipated that EPM would issue approximately 100 million common shares to acquire the private company, and the interest in the adjacent leases, a portion of which would be non-voting common shares. 

To date, no agreement has been entered into by EPM with any party with respect to the acquisition of the fertilizer assets of the private company and there can be no assurance that any such agreement will be reached or as to the ultimate terms of such agreement, if entered into.

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.

Contact Information

  • EPM Mining Ventures Inc.
    Stephen Jones
    President and Secretary
    (979) 775-7502