Procon Mining and Tunnelling Ltd.

April 13, 2011 18:47 ET

Procon Acquires Additional Shares of 0373849 B.C. Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2011) - Procon Mining and Tunnelling Ltd. ("Procon") of Suite 108 – 4664 Lougheed Highway, Burnaby, British Columbia, V5C 5T5 reports its recent acquisition of securities in 0373849 B.C. Ltd. (the "Company").

Pursuant to a private placement which closed on April 13, 2011 (the "Offering"), Procon acquired 600,000,000 common shares in the capital of 0373849 B.C. Ltd. (the "Common Shares") at a price of $0.000003118 per Common Share.

The Common Shares represent approximately 83% of the issued and outstanding common shares of the Company after giving effect to the Offering. As a result of the Offering, Procon now owns 656,885,026 common shares and 25,974,841,034,959 non-voting shares of the Company, representing approximately 90.43% of the common shares and 100% of the non-voting shares of the Company, providing Procon with the ownership of approximately 99.99% of the total equity of the Company. Procon acquired the Common Shares for investment purposes.

For further information, please visit our website at www.procongroup.net or contact Jimmy Mah, Chief Financial Officer at (604) 291-8292.

On behalf of PROCON MINING AND TUNNELLING LTD.

Jimmy Mah, Chief Financial Officer

Contact Information

  • Procon Group of Companies
    Jimmy Mah
    Chief Financial Officer
    (604) 291-8292
    (604) 291-8082
    www.procongroup.net