Orsa Ventures Corp.
TSX VENTURE : ORN

Orsa Ventures Corp.

August 16, 2011 12:57 ET

Orsa Increases Private Placement to $600,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Orsa Ventures Corp. (the "Company") (TSX VENTURE:ORN) is pleased to announce it has increased the previously announced (August 4, 2011) private placement for up to 6,000,000 common shares (each a "Share") at a price of $0.10 per Share (the "Financing") for gross proceeds of $600,000.

Further the Company wishes to clarify the proceeds of the Financing will be used to fund the exploration and development of the Company's Nevada mineral properties, and for general corporate purposes. Finders' fees in cash or warrants may be payable in accordance with the policies of the Exchange.

Completion of the Financing is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in the Financing will be subject to a hold period under applicable securities laws expiring four months and one day following issuance.

On behalf of the Board of Directors,

Linda Thorstad, President and Chief Executive Officer

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent an applicable exemption from U.S. registration requirements.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the closing of the Financing and the use of proceeds thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. 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, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Neither 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.

Contact Information

  • Orsa Ventures Corp.
    Linda
    President and Chief Executive Officer
    604.608.6680
    604.669.4776 (FAX)
    www.orsaventures.com