Herdron Capital Corp.

August 05, 2009 18:11 ET

Herdron Capital Corp. Engages Sponsor; Update on Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) -


Herdron Capital Corp. ("Herdron" or the "Corporation") (TSX VENTURE:HDC.P) announces that it has engaged PI Financial Corp. ("PI") to act as sponsor in connection with Herdron's qualifying transaction ("Qualifying Transaction"), previously announced on September 18, 2008. Pursuant to the Qualifying Transaction, Herdron intends to purchase all of the issues and outstanding shares of Pacemaker Silver Mining S.A. de C.V. ("Pacemaker"). Pacemaker, through a wholly owned subsidiary, holds the rights to a series of mineral concessions in north-eastern Sonora, Mexico.

PI has agreed to act as sponsor in connection with the Qualifying Transaction, subject to its completion of satisfactory due diligence. The Corporation has agreed to pay PI a sponsorship fee as well as all costs and expenses incurred in connection with its services as sponsor.

An agreement to sponsor should not be construed as any assurance with respect to the merits of the Qualifying Transaction or the likelihood of completion.

On October 7, 2009, Herdron announced that it had loaned Pacemaker USD$50,000 for the preparation of a NI 43-101 compliant technical report on Pacemaker's mineral concessions located in northeastern Sonora, Mexico. Herdron is also pleased to announce that Pacemaker has repaid the loan to the Corporation in full. The Corporation anticipates that it will file the technical report and a filing statement on SEDAR at www.sedar.com once the Corporation has satisfied the requirements of the TSX Venture Exchange for a qualifying transaction.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the 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 press release.

Contact Information

  • Herdron Capital Corp.
    Stuart Ross, President, Chief Executive Officer
    and Chief Financial Officer
    (780) 977-7187