VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

December 13, 2007 06:30 ET

VMS Announces $18,300,000 Released From Escrow

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or the "Company"). Further to its news release of November 7, 2007, the Company is pleased to announce that it received shareholder approval to increase its authorized share capital to an unlimited number of common shares at its special shareholders meeting held December 11, 2007 in Vancouver, B.C.

This approval has triggered the release from escrow the proceeds of the previously announced private placement. After deducting the balance of the cash commissions and expenses payable to the Agents in connection with the financing, the Company has now received approximately $18,300,000. The monies will fund ongoing exploration and development activities and general working capital.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package considered prospective for nickel-copper mineralization at Lynn Lake, which is to date Canada's third largest nickel producing camp. The Company's project portfolio consists of the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper project, the Nickel Belt project, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, CEO & Chairman

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

Contact Information

  • VMS Ventures Inc.
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604) 986-2021 (FAX)
    Website: www.vmsventures.com
    or
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200