Mazarin Inc.
TSX VENTURE : MAZ.H

Mazarin Inc.

March 19, 2008 17:02 ET

Mazarin Inc.: Announcement

THETFORD MINES, QUEBEC--(Marketwire - March 19, 2008) - Mazarin Inc. (TSX VENTURE:MAZ.H) announces that its wholly-owned subsidiary, 9075-6453 Quebec Inc. was forced to assign all of its assets in the hands of Raymond Chabot Inc., trustee.

The subsidiary is the owner of the Bell mine in Thetford Mines. Last August, it had authorized, under certain conditions, 9184-6808 Quebec Inc. (LAB Chrysotile) to operate the mine. At the end of this month, LAB Chrysotile will cease operations at the Bell mine.

After considering several avenues, the subsidiary has concluded that its limited financial resources did not allow it to operate the mine or to meet its financial obligations on an ongoing basis.

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Raymond Chabot inc.
    Jean Robillard
    514-393-4764
    or
    Mazarin inc.
    John LeBoutillier
    418-338-3669