Mazorro Resources Inc.

Mazorro Resources Inc.

May 07, 2014 08:30 ET

Mazorro Resources Seeks Opportunities to Diversify Into New Industry Sector

OTTAWA, ONTARIO--(Marketwired - May 7, 2014) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO)(FRANKFURT:JAM) announces that it intends to proactively source, evaluate and conduct due diligence on potential new opportunities including, but not limited to, opportunities in the agricultural, technology and resource sectors.

André Audet, President & CEO of Mazorro stated: "Management of the Company is looking at several opportunities to create shareholder value. In this regard, we are asking shareholders to approve a special resolution at the Company's up-coming annual and special meeting to consolidate the issued and outstanding common shares of Mazorro on the basis of one new common share for every two common shares issued and outstanding. The proposed share consolidation will provide the Company with greater flexibility in structuring a transaction for any potential new projects."

In the interim, management continues to move forward with its Monster Lake area property located near Chibougamau, Northwestern Quebec. A National Instrument 43-101 technical report with respect to the property was recently filed on SEDAR.

At this time, there are no new transactions in place nor is there any assurance that the Company will be successful in concluding a transaction for any new project in the future.

About Mazorro

Mazorro Resources Inc. is a TSX Venture Exchange listed, Canadian based, precious metals exploration company that is active in creating value through exploration and development of gold projects in Quebec. Mazorro currently has 55,514,773 common shares outstanding.

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 release.

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Contact Information

  • Andre Audet
    Interim President & CEO
    (613) 241-2332