VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

June 12, 2008 06:30 ET

VMS Ventures Proposes to Spin Off Nickel Assets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or the "Company") - In order to maximize shareholder value, the board of directors has decided to pursue a spin off of the Company's nickel assets. As proposed, the relevant properties would be transferred to a new company which would carry out an IPO and seek to list separately on the TSX Venture Exchange, with VMS as the largest shareholder of the new company.

The spin off is being proposed as it is felt that the Company's nickel assets are currently undervalued within the present structure and that having those assets in a separate well capitalized, well managed vehicle is a better way in which to develop the properties and realize a proper valuation of the assets for the benefit of VMS and its shareholders.

The Company is currently in discussions with various brokerage firms to act as the Company's agent in conducting the IPO and will provide further disclosure once the terms of the spin off are settled upon.

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 and Chair

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