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Oracle Mining Announces Final Approval for TSX Graduation
JAN 12, 2012 - 06:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2012) - Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX VENTURE:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is pleased to announce that it has received final approval for its common shares to be listed on the Toronto Stock Exchange ("TSX").
Oracle Mining's common shares will commence trading on the TSX effective as of the open of market on Friday, January 13, 2012. Upon listing on the TSX, the common shares will continue to trade under the symbol "OMN".
In connection with the listing on the TSX, the Corporation's common shares will be delisted from the TSX Venture Exchange following the close of trading on Thursday, January 12, 2012.
The TSX is the premier stock exchange for resource companies and Oracle Mining believes the new listing will improve visibility of its Oracle Ridge Copper Mine project among investors who are interested in near-term copper producers located in the U.S.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX VENTURE:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is a Vancouver, Canada-based corporation with a focus on uncovering overlooked deep-value projects to achieve superior shareholder returns. The Corporation is the sole owner and operator of Oracle Ridge Mining LLC and copper mine located 24 km northeast of Tucson, Arizona. Oracle Mining has cash on hand of approximately $8 million, minimal long-term debt and is managed by an experienced team of mining professionals with extensive operating and financial experience.
Forward-looking Statement Disclaimer
This document may contain "forward-looking statements" within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Oracle Mining Corp. (hereinafter referred to as the "Corporation") does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Corporation's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the Corporation's graduation to the TSX, the visibility of the Corporation's current projects, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, access to capital, capital expenditures, success of mining operations, commodity prices, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Such factors include, among others, risks related to the Corporation's ability maintain its listing on the TSX; actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Corporation's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
This media release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FOR FURTHER INFORMATION PLEASE CONTACT:
Oracle Mining Corp.
Mr. Alex Langer
VP Capital Markets
604-689-9282 or Toll-free: +1-855-689-9282
Oracle Mining Corp.
Mr. Jason Mercier
VP Corporate Secretary