With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
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Announces Non-Brokered Private Placement
Jun 01, 09 08:26AM
Monday, June 01, 2009 Apoquindo Minerals Inc. Announces Non-Brokered Private Placement
Vancouver, B.C., June 1, 2009 - Apoquindo Minerals Inc. (TSX.V:AQM) (BVL: AQM) ("Apoquindo" or the "Company") is pleased to announce a non-brokered private placement of up to 7,700,000 units at a price of $0.65 per unit for gross proceeds of $5,005,000. Each unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for two years at a price of $0.90 during the first year at a price of $1.10 during the second year.
The private placement is subject to regulatory approval.
The proceeds of the private placement will be used to fund exploration programs on Apoquindo's mineral properties and for general working capital purposes.
ABOUT APOQUINDO: The Company is a Canadian based mineral exploration company whose principal purpose is the acquisition and development of base and precious metal deposits in South America. The Company has two projects in Peru through its wholly owned Peruvian subsidiary, Minera Koritambo SAC: the Zafranal Copper-Gold Porphyry Project (recently optioned from Teck Resources Limited), located in the Paleocene Southern Peru Cu-Porphyry Belt, in the department of Arequipa, Peru and the Pachagon Porphyry Copper Project, located in the department of La Libertad, Peru. In Chile, the Company has a joint venture, Antakena Mining, with Minera S.A. to advance the Apoquindo Copper Oxide Project comprised of highly prospective leachable copper deposits under option located in a historic mining district in the Antofagasta Region's Coastal Range. Please refer to www.apoquindominerals.com for further information regarding the Company and its projects.
Management and directors have extensive experience working for the world's largest mining companies as well as several junior exploration companies. Apoquindo Minerals has offices in Santiago, Chile, Lima, Peru and Vancouver, Canada and will continue to expand its business using its effective team of experts in Exploration, Geology, Metallurgy, Mine Engineering, Law and Finance. Apoquindo is well positioned for success. Our Projects are uniquely valuable, and our knowledgeable management and directors provide a "pipeline" of growth opportunities.
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.
For further information, contact:
Winnie Wong, Chief Financial Officer of the Company at: Telephone: (604) 687-3520; Facsimile: (604) 688-3392 or firstname.lastname@example.org