Eurotin Inc.
TSX VENTURE : ERT.P

April 01, 2011 10:08 ET

Eurotin Inc. Qualifying Transaction Update

TORONTO, ONTARIO--(Marketwire - April 1, 2011) - Eurotin Inc. ("Eurotin" or the "Company") (TSX VENTURE:ERT.P), a Capital Pool Company, is pleased to provide this update of the status of its proposed acquisition of Stannico Resources Inc. ("Stannico") as discussed in Eurotin's press releases dated September 21, 2009 and May 19, 2010. As previously disclosed, Eurotin intends to complete a business combination (the "Transaction") whereby all of the issued and outstanding securities of Stannico and all of the outstanding securities held by third parties of Stannico's subsidiary, Minas de Estano de Espana ("MEE"), will be exchanged for securities of Eurotin. 

Filing Statement

Eurotin submitted its filing statement dated March 15, 2011 (the "Filing Statement") today to the TSX Venture Exchange (the "TSXV") that provides further details with respect to the Transaction. The entire Filing Statement is available under Eurotin's profile on SEDAR at www.sedar.com.

Technical Report

The Company is also pleased to announce that a National Instrument 43-101 compliant Technical Report for the Oropesa Property, located in Cordoba Province, Region of Andalucía, Spain (the "Oropesa Property") has been prepared for MEE dated effective January 19, 2011 and authored by James G. Burns as the responsible independent qualified person. The Oropesa Property is described in detail in the Filing Statement as discussed above and the complete technical report is also available under Eurotin's profile on SEDAR at www.sedar.com.

Closing of Qualifying Transaction

Eurotin has received conditional approval of the TSXV with respect to the Transaction. Final acceptance of the Transaction by the TSXV is subject to the satisfaction of certain conditions, including fulfilling of all remaining filing requirements under the TSXV's policies and the completion of the exercise of Stannico warrants to purchase common share for aggregate minimum gross proceeds of $1,250,000. The closing of the Transaction is scheduled to occur on or about April 11, 2011, but must be completed prior to June 14, 2011.

Forward-Looking Statements

Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. In addition, this press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements, general market conditions, and the uncertainty of access to additional capital; changes in the world-wide price of mineral commodities; general economic conditions; the timing of the closing of the Transaction and changes in laws, rules and regulations applicable to the Company. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Company has no intention or obligation to update the forward-looking statements contained in this press release.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Eurotin Inc.
    David Danziger
    President and CEO
    (416) 626-6000