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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2013) -
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Magnum Capital Corp. (TSX VENTURE:MGK.P) ("Magnum" or the "Corporation") is pleased to announce that the TSX Venture Exchange Inc. (the "Exchange") has conditionally accepted the previously announced proposed "Qualifying Transaction" of the Corporation, within the meaning of Policy 2.4 of the Exchange, relating to a binding option agreement (the "Option Agreement") dated September 6, 2012, with International Bethlehem Mining Corp. ("International Bethlehem"), granting Magnum an option to acquire a 51% undivided interest in certain mineral properties situated in Slocan Mining Division, British Columbia. The Exchange has also approved the filing today of the Corporation's filing statement dated August 16, 2013 (the "Filing Statement") prepared in connection with the Qualifying Transaction.
Completion of the Corporation's Qualifying Transaction is subject to a number of conditions, including but not limited to the Exchange's final acceptance of the Qualifying Transaction. Subject to certain conditions, as more particularly described in the Filing Statement, completion of the Qualifying Transaction is anticipated to occur on or about September 30, 2013. Shareholders of the Corporation are encouraged to review the Corporation's Filing Statement providing full particulars of the subject transaction, which has been filed under the Corporation's SEDAR profile at www.sedar.com.
Investors are cautioned that, except as disclosed in the Corporation's Filing Statement any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The Exchange has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Trading in the common shares of the Corporation is expected to commence two business days after the issuance of the Exchange Bulletin in connection with the approval of the filing of the Filing Statement.
Cautionary Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that conditions related to completion of the Qualifying Transaction are not met or that the Exchange will not provide final approval of the Qualifying Transaction or the resumption of trading of the common shares of the Corporation. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. Material factors and assumptions include: being able to obtain the necessary regulatory approvals, including Exchange approval for the Qualifying Transaction and the satisfaction of all conditions to the Qualifying Transaction as contained in the Option Agreement and as imposed by regulatory authorities. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.