ReMac Zinc Corp.

ReMac Zinc Corp.

October 06, 2010 20:45 ET

ReMac Executes Definitive Agreement With Corazon in Connection With Its Proposed Reverse Takeover Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - ReMac Zinc Corp. ("ReMac") or (the "Company") (TSX VENTURE:RMZ) is pleased to announce that the Company has now entered into a definitive share purchase agreement with Corazón Exploraciones S.A. ("Corazón") with respect to the proposed acquisition by ReMac of all of the issued and outstanding shares of Corazón. An annual and special general meeting will be held prior to the end of November pursuant to which shareholders of the Company will be asked to approve ReMac's proposed reverse takeover transaction (the "Transaction") with Corazón.

Trading of ReMac's common shares on the TSX Venture Exchange (the "Exchange") will remain halted until the Transaction is accepted by, or satisfactory documentation has been filed with, the Exchange pursuant to Section 3.4 of Exchange Policy 5.2.

About Corazón Exploraciones S.A.

Corazón was incorporated in the Republic of Nicaragua in 2010. It is engaged in the acquisition, exploration and development of mineral properties in Nicaragua.

Previous Business of ReMac

ReMac's previous business consisted of the exploration of its zinc project in British Columbia. A geological evaluation of the drilling results was completed and a new digital database of these drill results combined with all historical drill program data was completed. ReMac's management has determined not to expend further funds on the development of the zinc project at this time due to the lack of availability of acceptable financing following the dramatic decrease in zinc prices.



J. Stephen Barley, President

Completion of the Transaction is subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular and/or 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 ReMac should be considered highly speculative.

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.

Contact Information

  • ReMac Zinc Corp.
    J. Stephen Barley
    (604) 633-5088