Classic Wettreich Big Talk Followed By CollapseST. EUGENE SIGNS LETTER OF INTENT FOR A $12,000,000 PRIVATE PLACEMENT AND APPOINTMENT OF NEW DIRECTORS
Sounds impressive, right? Wrong! Falls thru
Toronto, Ontario, June 30, 2011: St. Eugene Mining Corporation Limited (SEM:TSXV) (“St. Eugene” or the “Company”) is pleased to announce that it has executed a Letter of Intent which defines the essential terms under which it will enter into a definitive agreement with Winston Mining L.P., an affiliate of Churchill Natural Resource Partners, L.P. (“Winston”) for a private placement investment of $12,000,000. The Company intends to use the proceeds of the investment to accelerate the development of a producing mine at the Company’s Tartan Lake Gold Mine, and for other corporate purposes.
Conditional on the closing of the private placement, the Board of Directors will be strengthened with the appointment of Danny Wettreich, the Managing Partner of Winston, as Chairman and Chief Executive Officer.
ST. EUGENE SUSPENDS TRANSACTION WITH CHURCHILL NATURAL
RESOURCE PARTNERS AND PROVIDES EXPLORATION UPDATE ON KEY
PROJECTS
Toronto, Ontario, July 7, 2011: St. Eugene Mining Corporation Limited (SEM:TSXV) (“St.
Eugene” or the “Company”) announces that it has suspended the previously announced
transaction with Churchill Natural Resource Partners, L.P. to investigate the potential of revised
terms acceptable to key shareholders. In the meantime, the Company shall continue to conduct
its business in the normal course.