Sudbury Capital Corporation
TSX VENTURE : SUD.P

March 03, 2008 16:26 ET

Sudbury Capital Corporation and NiCo Mining Corp. Announce Filing of Filing Statement

TORONTO, ONTARIO--(Marketwire - March 3, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Sudbury Capital Corporation (TSX VENTURE:SUD.P)("Sudbury"), a capital pool company, and NiCo Mining Corp. ("NiCo") are pleased to announce that they filed today a filing statement (the "Filing Statement") on SEDAR at www.sedar.com with respect to the proposed amalgamation of 2153191 Ontario Inc., Sudbury's wholly-owned subsidiary, with NiCo Mining Corp. ("NiCo"), a private Ontario corporation, which "three-cornered" amalgamation (the "Business Combination Transaction") will constitute Sudbury's "Qualifying Transaction" under the policies of the TSX Venture Exchange (the "Exchange"). The proposed Business Combination Transaction was previously announced on October 11, 2007 and was conditionally approved by the Exchange on March 3, 2008. Closing of the Business Combination Transaction is expected to take place on or around March 12, 2008. Shareholders of Sudbury and NiCo are encouraged to review the Filing Statement dated February 28, 2008, filed on SEDAR on March 3, 2008 and available at www.sedar.com under Sudbury Capital Corporation.

Following completion of the Business Combination Transaction, Sudbury will have consolidated its issued and outstanding share capital on a ten for one basis, changed its name to NiCo Mining Limited and been listed on the Exchange as a Tier 2 mining issuer whose common shares are expected to commence trading on or around March 14, 2008 under the symbol "NCL". The listing of the common shares of Sudbury under the name NiCo Mining Limited is subject to Sudbury fulfilling the final requirements of the Exchange. Sudbury (then named NiCo Mining Limited) will carry on the business of NiCo as a nickel cobalt exploration corporation exploring for nickel and cobalt in the Republic of Cameroon, Africa.

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Sudbury/NiCo Mining Limited. These risks and uncertainties could cause actual results and Sudbury's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Sudbury/NiCo Mining Limited assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

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

Contact Information

  • Sudbury Capital Corporation
    Charles J. Lilly
    Director
    (705) 522-2400
    or
    NiCo Mining Corp.
    Laurie Mutch
    President
    (416) 637-2080