News: MPM proposes name changeMaple Minerals proposes reorganization and name change
Maple Minerals Corp (TSX-V:MPM)
Shares Issued 29,151,135
Last Close 7/26/2005 $1.63
Wednesday July 27 2005 - News Release
Mr. Gino Falzone reports
MAPLE MINERALS ANNOUNCES PROPOSED REORGANIZATION AND NAME CHANGE
Maple Minerals Corp. is proposing a reorganization involving the transfer of its non-uranium assets to a wholly owned subsidiary named Maple Minerals Ltd. and the change of the company's name to Mega Uranium Ltd.
Maple presently owns various interests in the following projects and properties:
Ben Lomond uranium deposit, North Queensland, Australia (subject to closing);
Patagonia uranium project, Chubut province, Argentina;
Mongolia uranium project, Mongolia;
Greenwich uranium property, Ontario, Canada;
Mt. Kakoulima project, Guinea, West Africa;
Shebandowan group of properties, Ontario, Canada:
(i) Hamlin Shear property;
(ii) Deaty property;
(iii) Powell Lake property;
(iv) Clay Lake property;
(v) Ardeen property;
(vi) Obadinaw property; and
(vii) Burchell Lake property;
West Porcupine property, Ontario, Canada;
Joburke property, Ontario, Canada;
Lang Lake property, Ontario, Canada;
Lac Des Iles River property, Ontario, Canada; and
Eva Kitto property, Ontario, Canada.
Following the completion of the reorganization, the Ben Lomond uranium deposit, the Patagonia uranium project, the Mongolia uranium project and the Greenwich uranium property will be directly held by Mega Uranium Ltd., the parent company, and the remaining properties will be held by Maple Minerals Ltd., the wholly owned subsidiary of Mega Uranium Ltd.
This reorganization is being taken to reflect Maple's strategic development into a predominantly uranium resource company.
Completion of the name change is subject to receipt of all required shareholder and regulatory approvals. Maple is scheduling a meeting of shareholders to be held in October, 2005, to consider approving the name change. Maple has agreed to issue 150,000 common shares to an arm's-length third party in order to acquire the rights to the name Mega Uranium Ltd.