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SUFFER Apparel Company Update
Sep. 30, 2010 (GlobeNewswire) --
LAS VEGAS, Sept. 30, 2010 (GLOBE NEWSWIRE) -- SUFFER Apparel (Pink Sheets:ENTK) today announced that Frank Mir's win at UFC 119 has been boosting sales and helped in expanding the distribution efforts of the company.
SUFFER received a lot of exposure during the entire fight that has resulted in increased traffic and sales for the website, as well as additional interest among retailers.
The distribution group in Canada is currently arranging a promotional tour for SUFFER Apparel along with its sponsored fighters that include Robert Drysdale, and UFC's Frank Mir. The tour would include seminars and in-store signings to kick off the apparel line in Canada. The goal is for the tour to occur sometime before the end of year. Orders from the distribution group are expected to take place in early November.
SUFFER Apparel is also in negotiations with a major fitness gym with locations across the United States and Canada to carry the apparel and training gear.
The SUFFER logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7466
Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as SUFFER (ENTK) or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
CONTACT: SUFFER
Investor Relations:
ir@sufferapparel.com
Source: Globe Newswire (September 30, 2010 - 1:00 PM EDT)
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Nortec Minerals Engages Watts Griffis McOuat to Prepare NI 43-101 Compliant Resource Estimate and Technical Report, Lantinen Koillismaa PGE+Au-Cu-Ni Project, Finland
VANCOUVER, BRITISH COLUMBIA, Sep. 30, 2010 (Marketwire) -- Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) ("Nortec" or the "Company"), is pleased to announce the appointment of Watts Griffiis McOuat ("WGM") to prepare an independent National Instrument 43-101 compliant mineral resource estimate and Technical Report on the 100% owned Lantinen Koillismaa PGE+Au-Cu-Ni ("LK") Project located in Northern Finland. Dr. Markku Iljina, Ph.D., EuroGeol, WGM Senior Associate Geologist will be the Project Manager for this report. Dr. Iljina will be assisted by Mr. Cliff Duke, P.Geo, WGM Senior Associate Resource Geologist, Mr. Ross MacFarlane, P.Eng, WGM Senior Associate Metallurgical Engineer and Mr. Jerry Roth, MSc. WGM Senior Associate Geophysicist.
WGM and Dr. Iljina have extensive experience working with the Koillismaa layered igneous complex, which hosts the LK Project. Dr. Iljina, through his extensive prior work with Geological Survey of Finland (GTK) and specifically with this intrusive complex, has an in depth understanding of its metallogenic relationships.
The LK Project consists of the Kaukua, Lipeavaara and Haukiaho Zones. Nortec has carried out over 10,000 metres of diamond core drilling on the Kaukua Zone since 2007 and over 7,000 metres of historical diamond drilling was performed on the Haukiaho Zone since the 1960's. Nortec has not carried out any drilling to date on the Haukiaho Zone. The LK project has a combined surface area of over 3,200 hectares and covers a PGE+Au-Cu-Ni mineralized Marginal Series hosted within a sequence of mafic and ultramafic layered intrusions. Based on the current drilling information, the Kaukua mineralization is open down-dip and along strike to the west and south. The Company believes that the LK Project can host several large - tonnage PGE+Au-Cu-Ni deposits amenable to low cost open pit methods. Detailed drill results on the Kaukua Zone can be referred to in the Company's previous press releases. Almost 90% of the 38 holes drilled by Nortec and 10 holes drilled by GTK returned significant mineralized intercepts.
Some of the significant drill hole results on the Kaukua Zone include:
-- 35m @ 1.62g/t PGE+Au; 0.10% Cu and 0.17% Ni from 72.0m (Hole Kau08-004) -- 31.0m @ 2.30g/t PGE+Au; 0.21% Cu, 0.12% Ni from 141.5m), including 5.5 metres @ 6.26g/t PGE+Au, 0.53% Cu, 0.22% Ni (Hole Kau08-013)-- 65m @ 1.57g/t PGE+Au; 0.18% Cu and 0.10% Ni from 153.0m (Hole Kau08-018)-- 60.4m @ 1.02g/t PGE+Au; 0.17% Cu and 0.12% Ni from 153.0m including 11.5 metres @ 2.95g/t PGE+Au, 0.35% Cu, 0.19% Ni (HoleKau08-026)-- 32.95m @ 1.05g/t PGE+Au; 0.17% Cu and 0.13% Ni from 314.05m (Hole Kau08- 035) -- 52m @ 1.06g/t PGE+Au; 0.15% Cu and 0.11% Ni from 123.0m (Hole Kau09-039)
The Haukiaho Zone is located only 10 kilometres south of the Kaukua Zone. The Haukiaho claims cover the gabbro- to pyroxenite-hosted PGE+Au-Cu-Ni mineralisation, initially mapped and drilled by Outokumpu in the 1960's and subsequently drilled by GTK in 1998 and 2004, and by North Atlantic Natural Resources between 2000 and 2002. A total of 46 holes have been drilled with over 60% of the holes intersecting significant PGE+Au-Cu-Ni mineralization.
Some of the best drill intercepts from the Outokumpu and GTK drill holes on the Haukiaho Zone include:
-- 58.10m @ 1.27g/t PGE+Au ; 0.30% Cu and 0.20% Ni from 32.20m (GTK Hole R386) -- 31.25m @ 1.47g/t PGE+Au ; 0.26% Cu and 0.21% Ni from 78.60m (GTK Hole R392) -- 26.00m @ 1.09g/t PGE+Au ; 0.23% Cu and 0.14% Ni from 60.00m (GTK Hole R395) -- 26.02m @ 0.73 g/t PGE+Au; 0.26% Cu and 0.16% Ni from 84.98m (Outokumpu Hole R613) -- 20.10m @ (PGE+Au not assayed); 0.35% Cu and 0.33% Ni from 17.90m (Outokumpu Hole R692)
Furthermore, other targets have also been identified within the LK Project area that could host commercial zones of PGE + Au-Cu - Ni mineralization similar to Kaukua and Haukiaho zones in both size and grade. The geology and the modes of mineralization are similar to Goldfields' Suhanko Project (Arctic Platinum) situated 80 km to the West - Northwest. Goldfields reported total resources (measured, indicated and inferred categories) at Suhanko to be 183 million tonnes grading 1.54 grams/tonne PGE+Au, 0.20% Cu and 0.08% Ni.
Preliminary metallurgical test work on a blended representative composite of ore types carried out by SGS Minerals Inc. of Vancouver, BC, concludes that conventional rougher flotation yielded substantial recoveries of over 80% PGE+Au, associated with recoveries of over 93% for Cu and 51% for Ni. The recoveries appear to be somewhat dependent on the host rock composition. Cleaning this concentrate, again using conventional flotation means, produced a product assaying 16% Cu+Ni and 60 grams/tonne PGE+Au. Although this is not yet confirmed, a concentrate of this grade should be attractive to nickel and PGM smelters, especially given the low value of 4% Magnesium Oxide (MgO). This also means that the initially planned PLATSOL(TM) process for higher recoveries of PGE metals may now not be required. This will help lower the processing costs, simplify the project and reduce the technical risk of the project as a whole. (Nortec press release dated January 13, 2010).
Ian F. Laurent, MSc.(Econ Geol), MAIG RPGeo. is the Qualified Person responsible for the technical details and contents of this press release.
In other news, the Company also announces that it has retained Ibis Consulting Group, LLC. ("Ibis") to act as investor relations consultants to the Company, limited to European exposure. Ibis has been engaged for a term of six months for a fee of US$2,500 and the granting of options to purchase 100,000 shares of Nortec at a price of $0.13 per share. The relationship can be terminated at any time by either party with thirty days' notice. The agreement is subject to the approval of the TSX Venture Exchange.
The Company has granted further stock options to a consultant of the Company to purchase up to 300,000 common shares in the capital stock of the Company exercisable for a period of five years at a price of $0.13 per share.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia with branch offices in Oulu, Finland and Cuenca, Ecuador. The Company has an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinajoki-Kaatiala Gold-Antimony-Rare Earth-Lithium Property in western Finland.
Nortec has a 100% interest in the Tammela Lithium-Tin-Tantalum Project in south-west Finland; a minimum 51% interest with an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and, an option to acquire 51% interest in the Ganarin Gold-Silver Property, Ecuador.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
Ian F. Laurent, President
This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Nortec Minerals Corp. President +1 604-717-6426 +1 604-683-9649 (FAX) www.nortecminerals.com
Source: Marketwire Canada (September 30, 2010 - 11:34 AM EDT)
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Encompass Holdings' QDS-I Begins Aggressive New Marketing Program
Sep. 30, 2010 (GlobeNewswire) --
RENO, Nev., Sept. 30, 2010 (GLOBE NEWSWIRE) -- Encompass Holdings, Inc. (Pink Sheets:ECMH), www.encompassholdings.com, reports that its wholly owned subsidiary, Quadrant Data Systems, Inc. (QDS-I), announced today the launch of an aggressive new marketing initiative designed to accelerate customer contacts and generate new sales.
"We have established a flexible campaign template that involves a powerful mix of mailings, incentives, radio advertising and hosted seminars. In each case, we are highlighting a very specific product, identifying a distinct target market, and then pushing a definitive message designed to generate an immediate sales opportunity," explained Renee Hawk, Quadrant's newly appointed Director of Marketing and Administrative Services.
Quadrant plans to lead off by focusing on Microsoft's Business Productivity Online Suite. "We see a large pent-up demand from businesses that have invested in an internal Microsoft Exchange Email system but are now beginning to recognize the significant cost savings and operational advantages of a hosted environment. Our proposition is very simple – under our management, we will guarantee a successful migration of a client's internal email system to the cloud without a single moment of downtime," said Joseph Berardi, Quadrant's CEO.
"We think this is a very compelling offer to the business owner. Businesses in our target market have been hamstrung by the costs and complexities of maintaining and upgrading their own email systems while at the same time forgoing many of the features indispensable in today's email-centric climate, such as smart-phone synchronization and web conferencing. With one simple decision, management can get rid of that server everybody has been afraid to touch and begin to use email the way it was intended – ubiquitously and reliably. The bottom line makes this a very simple decision – the total cost for Exchange Online is $5/mo. per mailbox," said Kirk Hurford, Quadrant's Chief Operating Officer.
Scott Webber, CEO of Encompass Holdings, added, "The brilliant element of Quadrant's plan, in executing the first phase of this new initiative, is that every prospect for Microsoft Hosted Exchange is an ideal candidate for Quadrant's other services, such as colocation and managed virtual servers. This program places the prospective client in a positive relationship where Quadrant can be a trusted partner for these important services. In other business, look for important rotary engine news late next week. "
The Encompass Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6962
Forward-looking statements in this news release are made under the "Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, competition, the success of existing and new product releases and other risk factors inherent in product development and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
CONTACT: Encompass Holdings, Inc.
J. Scott Webber
InvestorRelations@EncompassHoldings.com
Quadrant Data Systems Inc
Joseph Berardi
866-966-9109
Management@qds-i.com
Source: Globe Newswire (September 30, 2010 - 10:15 AM EDT)
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Avalon Announces Closing of $30,030,000 Offering
Sep. 30, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/30/10 -- NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES.
Avalon Rare Metals Inc. (TSX: AVL)(OTCQX: AVARF) (the "Company") is pleased to announce that it has closed its previously announced short form prospectus offering pursuant to which the Company has issued 9,240,000 units at a price of Cdn$3.25 per Unit to raise aggregate gross proceeds of Cdn$30,030,000 (the "Offering"). Each unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at a price of Cdn$3.60 until September 30, 2011. CIBC World Markets Inc. acted as lead underwriter for the Offering along with a syndicate of underwriters including Laurentian Bank Securities Inc., Stonecap Securities Inc. and Canaccord Genuity Corp. (collectively, the "Underwriters"). The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering, or $1,801,800, and broker warrants entitling the Underwriters to purchase 277,200 units at any time up to and including September 30, 2011, at the same price and on the same terms as the offered units.
The net proceeds of the Offering will be used to continue exploration and development of the Company's Thor Lake project in the Northwest Territories and for general corporate purposes.
The Company has received the conditional approval of the Toronto Stock Exchange for the listing of the warrants and the additional common shares issued on closing of the Offering, as well as the warrants and common shares issuable upon exercise of the broker warrants and the common shares issuable upon exercise of the warrants, subject to fulfilling all of the listing conditions of the Toronto Stock Exchange. The warrants will trade under the stock symbol "AVL.WT".
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to "U.S. persons", as such term is defined in Regulation S promulgated under the 1933 Act, absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
About Avalon Rare Metals Inc. (TSX: AVL)(OTCQX: AVARF)
Avalon Rare Metals Inc. is a mineral exploration and development company focused on rare metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT, is emerging as one of the largest undeveloped rare earth elements resources in the world. Its exceptional enrichment in the more valuable 'heavy' rare earth elements, which are key to enabling advances in green energy technology and other growing high-tech applications, is one of the few potential sources of these critical elements outside of China, currently the source of 95% of world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones. Avalon's performance on community engagement in the north earned it the 2010 PDAC Environmental and Social Responsibility Award.
Shares Outstanding: 90,631,670. Cash resources: approximately $39 million.
To find out more about Avalon Rare Metals Inc., please visit our website at www.avalonraremetals.com. For questions and feedback, please e-mail the Company at ir@avalonraremetals.com or phone Don Bubar, President and CEO at 416-364-4938.
This news release contains forward-looking information and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Contacts:
Avalon Rare Metals Inc.
Don Bubar
President and CEO
416-364-4938
Source: Marketwire (September 30, 2010 - 9:29 AM EDT)
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CJT Mining Reports Precious Metals Tonnage Increase in Nevada
WEST JORDAN, UTAH, Sep. 30, 2010 (Marketwire) -- CJT Mining, Inc. ("CJTF") (PINK SHEETS:CJTF) a wholly owned subsidiary of CJT Financial, Inc. today announced an increase in the precious metals ore content and tonnage of its mining claims in central Nevada.
Chart 1 Analysis of Tonnage and Assay estimates This Release Claim Tonnage Avg Au Ozs of Avg Ag Ozs ofNumbers Estimate Ton Gold Ton SilverAP2, AP3 100,000 0.0200 2,000 7.00 700,000RSM 1, 2, 3 65,000 0.0300 1,950 7.00 455,00070A 900,000 - - 41.58 37,422,00024A 900,000 - - 12.75 11,475,0001A, 13A 1,800,000 - - 8.53 15,354,00077A, 231A 1,800,000 0.0071 12,857 18.32 32,976,000Chart 2 Analysis of Tonnage and Assay estimates Cumulative Total All Releases to Date Claim All Releases Cum. Ozs Cum. OzsNumbers Tonnage to Date Gold to Date Silver to DateAP2, AP3 RSM 1, 2, 3 70A 24A 1A, 13A 77A, 231A 5,565,000 16,807 98,382,000
The above charts show the format shown in the company web site www.cjtmining.com.
The first two rows of the above Chart 1 represent the ore content of already stockpiled ore which has been analyzed and certified by our geologists.
The next two rows of the above Chart 1 are regarding specific lode mining claims which have been analyzed by our geologists. The tonnage estimates of the in-ground assets were estimated by Dr. Mead L. Jensen. His formula for estimating the tonnage was based on his estimate of the ore being in 10% of the underground area and in the top 100 feet from the surface. Ten cubic feet of ore per ton times 10% times 1500 feet by 600 feet by 100 feet equals 900,000 tons of ore per claim.
Chart 2 provides the accumulated tonnage, ounces of gold and silver from the assay analysis.
The increased precious metals ore content and tonnage remain encouraging and show CJT Mining has the resources to begin making plans to move into production. It is the intent of the company to drill and verify these findings and report them in a future NI 43-101 report.
About CJT Mining
The company CJT Mining, Inc. is focused in precious metals mining and processing of massive ore bodies located in central Nevada mining districts. The company has lode mining and placer mining claims in two mining districts. The minerals located in the lode mining claims, placer mining claims and mill site claims in these mining districts have been previously drilled and evaluated by a very respected Geologist/Mining Engineer and extensive records, analysis, maps, pictures, drill logs and assays have been acquired with the staking, purchase, filings and/or leases of the mining claims of the various assets.
Critical path planning to map out the mining and processing of these assets are the primary focus of the company. The company is not looking for ore but is in the process of developing previously identified ore bodies, which are not mined out and which have a previously studied mining history. Announcements regarding additional properties will be made one property at a time when sufficient investigation and required legal due diligence and/or staking/filing is completed.
For more information, please visit www.cjtmining.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
Statements contained in this press release that are not statements of historical fact are "forward-looking statements" as that term is defined under federal securities laws, including, without limitation, all statements concerning expectations, beliefs, goals, intention or strategies for the future of CJT Mining. Forward-looking statements may be identified by words such as "goals", "plans", "believes", "will", "expects" and other words of similar meaning used in conjunction with, among other things, discussions of future operations, financial performance, product development and new ventures. Many factors could cause actual events or results to differ materially from those expressed in any forward-looking statement. This document is not a solicitation to invest. Investors are cautioned not to place any undue reliance on any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
Success Global Investor Relations 212-504-2921 virginea@success-ir.com Brian Collins brcollins@shaw.ca
Source: Marketwire Canada (September 30, 2010 - 9:10 AM EDT)
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LLUX.PL Commences Operations in New Subsidiary, U.S. Cannabis, Inc.
COSTA MESA, CALIFORNIA, Sep. 30, 2010 (Marketwire) -- LC LUXURIES LIMITED (PINK SHEETS:LLUX) (the "Company") today announced that it has entered into a Letter of Intent to acquire a majority interest in Weedmaps, LLC. Justin Hartfield, CEO of Weedmaps, LLC states: "We're very excited to be joining forces with LLUX. We share the same entrepreneurial spirit and look forward to a long and successful relationship."
Douglas Francis, CEO of both LC Luxuries and its subsidiary, US Cannabis, Inc., stated: "One of our main objectives in entering into the medical cannabis market was to have a significant internet presence. Having Weedmaps, LLC, as a majority owned subsidiary will, certainly, accomplish that goal."
James Pakulis, President of both LC Luxuries and US Cannabis, Inc., agrees. He states that, "Weedmaps, LLC, is an exceptional company with significant growth opportunities. This is a win-win for both companies."
LC LUXURIES LIMITED
James Pakulis - President
About LC Luxuries Limited (OTCPK: LLUX)
LC Luxuries Limited (OTCPK:LLUX), a Nevada based company with headquarters in Newport Beach, California, was in the business of selling beauty products such as; makeup and perfume on the internet through its website makeup.com. As a result of the sale of certain domain names, the company is now developing a new website and seeking new business opportunities and effective February 1, 2010 the company is in the development stage.
About U.S. Cannabis, Inc.
U.S. Cannabis, Inc. is a Nevada corporation and is committed to the management of medical clinics for the lawful diagnosis and treatment of patients that may derive benefit from medical marijuana treatments.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). LC Luxuries Limited cautions that statements made in this news release relating to the change of control and new business direction constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. LC Luxuries Limited undertakes no obligation to revise these statements following the date of this news release.
The Pink OTC Markets Inc. does not accept responsibility for the adequacy or accuracy of this release.
LC Luxuries Limited 1-866-347-5057
Source: Marketwire Canada (September 30, 2010 - 9:01 AM EDT)
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Kalahari Greentech Announces Special Dividend of Shares for Shareholders of Record Taking Place on September 30, 2010
Sep. 30, 2010 (GlobeNewswire) --
BALTIMORE, Sept. 30, 2010 (GLOBE NEWSWIRE) -- Kalahari Greentech, Inc. (Pink Sheets:KHGT) announced today that at its regular meeting held on August 24, 2010, the Kalahari Greentech Board of Directors voted to issue a special dividend of one share per each share payable to holders of record of common shares as of the close of business on September 30, 2010.
This dividend option will go into effect as planned. Kalahari Greentech shareholders of record should watch their mail for an announcement containing additional information about this dividend issuance.
Please visit Kalahari's website at www.kalaharigreentech.com to learn more about the company's latest innovations.
About Kalahari Greentech, Inc.: Kalahari Greentech Inc. is an energy company focused on developing, constructing and operating wind and solar energy projects, either on its own or in partnership with other energy companies. The company's main focus is to seek out opportunities to utilize its technology to develop renewable energy sources.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
CONTACT: Kalahari Greentech
Investor Relations
410-242-0763
Source: Globe Newswire (September 30, 2010 - 9:01 AM EDT)
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Alexis Minerals Signs Engagement Letter for $60 Million Snow Lake Project Financing
Sep. 30, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/30/10 -- ALEXIS MINERALS CORPORATION (TSX: AMC)(OTCQX: AXSMF) ("Alexis" or the "Company") is pleased to announce that it has entered into a Letter of Engagement with Legend Securities Inc(1), a New York based broker-dealer, in respect of project financing for the Company's Snow Lake Gold Mine. The Company selected this financial institution after assessing the approach and conditions of over 20 proposals received from around the globe after publishing the Snow Lake Preliminary Assessment (see news release, March 8, 2010).
It is proposed that the project financing will be in the form of a facility of up to $60,000,000 to provide project financing in two tranches:
-- $45 Million for anticipated Capital Costs to develop and refurbish the
Snow Lake Mine during the twelve month period following a positive
production decision; and
-- an additional $15 Million working capital draw down facility.
It is proposed that the facility will have a five year term. Alexis would make quarterly payments under the facility from revenues derived from the sale of gold from production at Snow Lake. The first tranche of the facility is expected to be available during the fourth quarter of 2010 and is timed to facilitate mine construction and development to commence in January 2011. The facility does not require any gold-hedging, and there are no associated warrants, options or other equity involvement. The completion of the facility is subject to, among other things, satisfactory completion of due diligence, completion of the Snow Lake Feasibility Study, and execution of the definitive facility documents. The Company expects to complete the Snow Lake Feasibility Study in early October 2010.
Snow Lake Mine Assets
Alexis acquired a 100% interest in the Snow Lake Mine in April 2010 and completed an independent Preliminary Assessment ("PA") of the Snow Lake deposits in March 2010. In the PA, Golder Associates Ltd. ("Golder") estimated that the Snow Lake Mine could produce a total of approximately 423,000 ounces of gold over an estimated six year project life, at an estimated life of mine total cash cost of approximately US$544 per ounce. The Snow Lake Mine has the potential to produce over 90,000 ounces of gold per year. The initial capital cost was estimated to be approximately CDN$33.8 million. Golder projected the Snow Lake Mine to generate a 191% internal rate of return and approximately CDN$163.8 million of accumulated cash flow on a before tax basis, based on March 2010 Bloomberg Consensus gold price estimates(2). The payback period is estimated to be less than two years.
The PA was based on measured and indicated mineral resources in the Main Mine and the No. 3 Zone. Please refer to the Company's March 8, 2010 press release for a description of Resources and the assumptions and parameters relating to the mineral resource estimate.
Alexis believes that there is significant potential to expand the estimated mineral resources at the Snow Lake Mine. For example, the Company identified significant gold mineralization in a potential on-strike extension to the Main Mine (see news release, February 17, 2010) and is presently drilling this area to test the east and down-plunge of the discovery area to determine if a third ore lens occurs on strike of the Main Mine. Alexis has also identified two new high-grade gold zones, which contain mineralization that Alexis believes is similar in character to that of the Main Mine and the No.3 Zone (see news release, June 15, 2010). Alexis is completing a new mineral resource estimate in conjunction with its feasibility study, which will include the results of drilling completed during the period from March to June 2010.
Alexis has completed over 18,000 metres of surface diamond drilling at the Snow Lake project during 2010 in a proposed program of 35,000 metres. Two drills are currently active. Remaining drilling has been designed to focus primarily on the potential for new discovery and expanding estimated mineral resources.
The PA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic consideration applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Qualified Person
The technical and scientific content of this press release has been reviewed by David Rigg, P.Geo. President and Chief Executive Officer of Alexis Minerals and a Qualified Person as defined under NI 43-101.
About Alexis Minerals
Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC") and trades in the United States on the Over the Counter QX International platform (OTCQX: AXSMF). The Company owns the Lac Herbin producing gold mine in Val-d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda, both in Quebec. Alexis also owns the Snow Lake Mine in Manitoba where a Feasibility Study is nearing completion. With these assets Alexis has the potential to increase gold production and is targeting mid-tier gold production levels in 2011-2012. Alexis undertakes exploration in the mineral rich Val-d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 sq. km and in joint venture with Xstrata Copper) as well as in the Snow Lake Mining Camp (100% ownership of 50 sq. km). Alexis Minerals has two drills active in Val-d'Or and two drills active in Snow Lake on surface exploration programs. For more information about Alexis Minerals visit www.alexisminerals.com.
Forward looking information
This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, mineralization projections, future exploration priorities, estimates and costs, projected capital and operating expenditures, future exploration plans and techniques, estimates regarding the timing and costs of exploration, estimates regarding the timing and completion of the feasibility study, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the mineralization projections are based upon extensive technical and scientific analysis conducted by the management of the Company, the results from drill programs and other exploration, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
(1) Legend securities is not an underwriter or a bank and is not acting as a principal in the transaction or buying for its account. Legend Securities is a placement agent and is engaged with Alexis minerals for the purpose of structuring and placement of the facility to investors. Legend Securities is not presenting a firm commitment to finance the offering nor has a firm commitment from investors to purchase the investment; all Legend placement capacity are subject to successful structure and marketing of such investment and is on a best effort basis.
(2) Bloomberg US$ Price Deck is 2010 -$1127, 2011 - $1158; 2012 - $1128; 2013 - $1125; 2014 to 2017 - $850
Contacts:
Alexis Minerals Corporation
David Rigg
President and CEO
(416) 861-5889
(416) 861-8165 (FAX)
info@alexisminerals.com
Alexis Minerals Corporation
Bruce Barch
VP Investor & Corporate Affairs
(416) 861-5905 or Toll Free: 877-717-3027
bruce.barch@alexisminerals.ca
Alexis Minerals Corporation
Louis Baribeau
Relationniste
(514) 667-2304
lb@decorporateconsultants.ca
www.alexisminerals.com
Source: Marketwire (September 30, 2010 - 8:30 AM EDT)
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California Testing Authority LLC to Use zNOSE for Medical Cannabis Testing and Certification
Sep. 30, 2010 (GlobeNewswire) --
NEWBURY PARK, Calif., Sept. 30, 2010 (GLOBE NEWSWIRE) -- Electronic Sensor Technology Inc. (Pink Sheets:ESNR) (EST) a leading provider of ultra-fast vapor analyzers, and California Testing Authority LLC, (CTA) an innovative leader in certification of cannabis for medical use, announced today that CTA will be EST's exclusive customer in California for the testing and certification of medical cannabis.
Using EST's zNOSE, CTA will conduct on-site testing of medical marijuana to insure the product is free from excessive molds, spores, insecticides and other pathogens. In addition, CTA will test the concentration of the three primary cannabinoids found in marijuana and provide the clinic with labels containing information on the strength and character of the marijuana being dispensed.
Cannabis or medical marijuana has been shown to have several well-documented beneficial effects. Among these are: the amelioration of nausea and vomiting, stimulation of hunger in chemotherapy and AIDS patients, lowered intraocular eye pressure (shown to be effective for treating glaucoma), as well as general analgesic effects (pain relief).
About Electronic Sensor Technology:
Founded in 1995, Electronic Sensor Technology has developed and patented a chemical vapor analysis process. EST's product provides near real-time analysis of gasses detecting volatile organic compounds in amounts as low as one part per trillion. EST's product has been shown to detect salmonella and e-coli contamination of food sources; chemical warfare agents such as Sarin and Agent Orange and Chemical pollutants in the environment.
About California Testing Authority
California Testing Authority LLC, (CTA) is a mobile certification and pre-screening service with a focus on the medical marijuana industry. The company offers mobile solutions for medical marijuana collectives to help meet and exceed local and state ordinance requirements. CTA provides mobile testing for potency levels of three primary cannabinoids found in marijuana: tetrohydrocannabiniol (THC), cannabidiol (CBD), and cannabiniol (CBN). In addition, safety testing is provided to detect above-average levels of molds and pathogens commonly found in medical marijuana. Our clients receive the benefit of detailed medicine bottle labels with on-the-spot printed results so collective owners can feel confident that patients are informed and public safety issues are addressed. These certified labels are rapidly becoming the standard for purchasing medical marijuana and we believe will soon become mandatory by law.
SEC Filings and Forward-Looking Statements
This press release includes forward-looking statements, including the Company's expectations regarding its ability to develop and access capital markets and its ability to achieve expected results in the chemical detection and analysis industry. The forward-looking statements are identified through use of the words "potential," "anticipate," "expect," "planned" and other words of similar meaning. These forward-looking statements may be affected by the risks and uncertainties inherent in the chemical detection and analysis industry and in the Company's business. The Company cautions readers that certain important factors may have affected and could in the future affect the Company's beliefs and expectations and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of the company.
CONTACT: Electronic Sensor Technology Inc.
William Wittmeyer
805-480-1994
650 714 0823 cell
1125-B Business Center Drive
Newbury Park, CA 91320
California Testing Authority LLC
Pouya Moghavem
877-362-8283
858-204-7384 cell
4695 MacArthur Ct. 11th Floor
Newport Beach, CA 92660
Source: Globe Newswire (September 30, 2010 - 8:30 AM EDT)
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Quad Energy Corp. Signs LOI to Acquire 50% Working Interest in 11360 Acres in Gas Production
ORLANDO, FLORIDA, Sep. 30, 2010 (Marketwire) -- Quad Energy Corp. (PINK SHEETS:CDID) has entered into a letter of intent to acquire a 50% working interest in the company Luxur Resources Inc. The working interest is in a total of 11360 acres of long term gas production in the south east corner of Alberta Canada. In addition to the large land holdings that are in the company, it has 30.21 KM of 6 and 8 inch production line running through property and 7.53 KM of 4 inch tie in lines. The company has a total of 9 gas wells that were drilled with in the last 2-5 years. It has an unproven potential reserve of 2 BCF per section. Eight of these wells are on limited production and one needs to be completed and tied in. Luxur Resources land is surrounded by some substantial companies i.e.: Nexen Inc. Direct Energy Inc. Enerplus Corp. and the City of Medicine Hat Gas Dept. We feel confident in the potential of this company as it has the land base, infrastructure and recoverable reserves to move it to the next level. It needs a limited development plan and our competent team to accomplish this.
The company would pay up to $1.5million for the 50% working interest.
The company is undertaking due diligence and will announce the signing of a definitive agreement in the event that one is signed.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
About Quad Energy Corp. ...
An independent junior oil and gas exploration, development and production company headquartered in Orlando, FL.The Company is duly incorporated in the State of Nevada. The Company's common shares are listed for trading on the electronic over-the-counter pinksheet's (OTC-PINK) market in the United States and trades under the symbol "CDID".
Behalf of the Board of Quad Energy Corp.
Quad Energy Corp. Orlando, FL 403-995-9876 info@quadenergycorp.com www.quadenergycorp.com
Source: Marketwire Canada (September 30, 2010 - 8:02 AM EDT)
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Black Dragon Resource Companies Inc. Negotiates With Three Other Oil Companies to Drill 8 Cotton Valley Deep Wells
Sep. 30, 2010 (GlobeNewswire) --
OIL CITY, La., Sept. 30, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) is pleased to announce today that the company has entered into negotiations with three other oil companies to drill 8 Cotton Valley Deep Wells. Recent company developments have put the company on the fast track to begin the drilling of its first Cotton Valley Well. The purpose of negotiations is to go over drilling terms and timelines with our potential drilling partners.
Cotton Valley is a deep well formation 8-12,000 feet in depth depending upon location and the zone can be 2-400 feet in thickness. The company's lease is adjoining a section where the largest Cotton Valley Deep Well in Shreveport was ever discovered. This adjoining property was originally drilled in the 80's and produced 35,000 mcf per day . The company is looking to acheive a 6,000 mcf per day minimum out of each of its 8 wells drilled. Cotton Valley Wells are know to be very prolific and have a life of 30-40 years.
Black Dragon expects negotiations with its partners to be complete by October, 2010. Black Dragon intends to have the first Cotton Valley Deep well drilled before the end of 2010.
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT: Black Dragon Resource Companies, Inc.
Investor Relations
Brian Holden
913-226-3818
Source: Globe Newswire (September 30, 2010 - 8:00 AM EDT)
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ALAS Defense Systems Announces the Engagement of Midtown Partners and Co, LLC
Sep. 30, 2010 (GlobeNewswire) --
DUNEDIN, Fla., Sept. 30, 2010 (GLOBE NEWSWIRE) -- ALAS Defense Systems, Inc. (Pink Sheets:VDSC) today announced that it has engaged Midtown Partners and Co, LLC as its exclusive adviser on capital formation for the purchase of Quality Performance, Inc. (http://www.goqpi.com) of up to five million dollars ($5,000,000).
Edwin Salmon, CEO of ALAS Defense Systems, Inc. stated, "we are excited to have the opportunity to engage Midtown Partners and Co, LLC. In the year 2009 alone they were ranked the 5th most active boutique investment banking firm by Sagient Research Systems raising 71 million dollars for clients in healthcare, biotechnology, consumer goods and technology industries."
Mr. Salmon further stated that Pink Sheets has been brought up to date with current information and Financial statements.
About ALAS Defense Systems, Inc.:
ALAS Defense Systems, Inc. is a holding company which owns and operates through its wholly owned subsidiary, Redtide Defense Group, Inc. (http://www.redtidedefense.com/) which is a manufacturer of UAV (Unmanned Aerial Vehicles). The Company has created an inexpensive and, it believes, technically superior solution to the growing $6 billion a year worldwide market demand for UAVs. The Company is looking to grow both organically and through strategic acquisitions.
About Quality Performance, Inc.:
Founded in 1990, QPI sells products to government and commercial customers in the United States. QPI also provides life cycle product support services including maintenance services for its products. Services include program management, engineering and technical support, installation and checkout support on site, factory training, spare parts logistics support, technical documentation, and depot-level maintenance repair. QPI's largest customer is the United States Navy.
Safe Harbor Act Disclaimer: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: ALAS Defense Systems, Inc.
Investor Relations
Edwin Salmon
727-736-4724
edwin.salmon@gmail.com
Source: Globe Newswire (September 30, 2010 - 8:00 AM EDT)
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Crocodile Gold Announces Encouraging Gold Drill Intercepts From JV Partner Thundelarra-Intersects 4.96 g/t Au Over 12 Metres
Sep. 30, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/30/10 -- Crocodile Gold Corp. (TSX: CRK)(OTCQX: CROCF)(FRANKFURT: XGC) ("Crocodile Gold" or the "Company") is pleased to announce the latest diamond and reverse circulation drill results completed by its joint venture partner, Thundelarra Exploration Ltd ("Thundelarra") on the Thunderball prospect located approximately 140 kilometres south of Darwin in the Northern Territory of Australia.
Highlights from hole TPCRC066 at the Thunderball prospect include:
-- 4.96 g/t gold over 12 metres including 10.90 g/t gold over 4 metres from
66 metres down the vertically drilled hole. Crocodile Gold has 100% of
the gold rights on this tenement.
Mark Edwards, Geology Manager of Crocodile Gold commented, "These gold intercepts are significant as they represent the first significant gold assays received to date at the Thunderball prospect located within our Burnside tenement package, over which Crocodile Gold has 100% of the gold rights, near our existing mines. We look forward to working with Thundelarra to follow up on these encouraging gold intercepts."
Hole TPCRC066 is located roughly south along strike from the current mining areas of Princess Louise and North Point, approximately 5.3 kilometres from Princess Louise and approximately 85 kilometres by road to the Union Reefs mill. The hole is located in an area of numerous past producing mines and approximately 3.4 kilometres to the north of the historic open pit called Golden Dyke which historically produced around 28,000 ounces of gold since the 1980s (refer to Figure 3 below). Approximately 41,000 ounces have been mined from pits in the area including Golden Dyke, Afghan Gully, Davis 2, Langley and Fisher Lode since the early 1980s.
In addition, several significant uranium intercepts were encountered including:
-- 0.59% U3O8 over 7.85 metres including 2.50% U3O8 over 1.00 metres in
hole TPCRD069
-- 0.86% U3O8 over 15.00 metres including 1.40% U3O8 over 9.00 metres and
11.30% U3O8 over 1.00 metres in hole TPCRD093
Crocodile Gold has an agreement with Thundelarra, signed in September 2007, in which Thundelarra has the right to explore for uranium on certain Crocodile Gold tenements while Crocodile Gold retains all other metal rights including precious metals and base metals. Crocodile Gold has 100% of the gold rights for drill results reported on the tenements in this press release. Thundelarra holds a 70% interest in the uranium rights until development and must incur a minimum AUS$250,000 in exploration expenditures per year for the first three years and has the right to apply for a mining tenement on behalf of the joint venture. Crocodile Gold has a 30% free carried interest in the uranium rights until development through the agreement with Thundelarra. The location of the properties included in the joint venture and of the Thunderball prospect can be viewed in Figure 1 below. A drill plan is shown in Figure 2 below.
Table 1: Thunderball Uranium Drill Results
---------------------------------------------------------------------------
Grid Coordinates Survey Data Interval
---------------------------------------------------------
From To Interval Grade
Hole ID Easting Northing Azimuth Dip (m) (m) (m) (% U3O8)
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TPCRD062 772738 8501398 Vertical 94.00 97.10 3.10 0.18
---------------------------------------------------------------------------
TPCRD064 772768 8501415 Vertical 9.00 12.00 3.00 0.01
---------------------------------------------------------------------------
and 14.00 15.00 1.00 0.01
---------------------------------------------------------------------------
TPCRD065B 772744 8501447 Vertical 118.75 122.00 3.25 0.33
---------------------------------------------------------------------------
Including 119.75 120.25 0.50 1.30
---------------------------------------------------------------------------
and 125.00 127.50 2.50 0.04
---------------------------------------------------------------------------
TPCRD069 772749 8501506 Vertical 34.00 37.00 3.00 0.01
---------------------------------------------------------------------------
and 142.00 143.00 1.00 0.01
---------------------------------------------------------------------------
and 145.00 146.00 1.00 0.02
---------------------------------------------------------------------------
and 150.40 158.25 7.85 0.59
---------------------------------------------------------------------------
including 151.40 152.40 1.00 2.50
---------------------------------------------------------------------------
and 162.00 163.00 1.00 0.11
---------------------------------------------------------------------------
TPCRD093 772745 8501470 Vertical 135.00 150.00 15.00 0.86
---------------------------------------------------------------------------
including 141.00 150.00 9.00 1.40
---------------------------------------------------------------------------
Including 146.00 147.00 1.00 11.30
---------------------------------------------------------------------------
TPCRD094 772731 8501458 Vertical 128.15 130.00 1.85 0.08
---------------------------------------------------------------------------
TPCRC095 772680 8501590 Vertical 99.00 100.00 1.00 0.01
---------------------------------------------------------------------------
and 103.00 108.00 5.00 0.01
---------------------------------------------------------------------------
TPCRC096 772755 8501540 Vertical 43.00 57.00 14.00 0.05
---------------------------------------------------------------------------
and 60.00 69.00 9.00 0.03
---------------------------------------------------------------------------
TPCRC097 772751 8501573 Vertical 59.00 61.00 2.00 0.01
---------------------------------------------------------------------------
and 90.00 91.00 1.00 0.01
---------------------------------------------------------------------------
TPCRC098 772766 8501560 Vertical 47.00 50.00 3.00 0.02
---------------------------------------------------------------------------
TPCRC099 772759 8501592 Vertical 71.00 72.00 1.00 0.01
---------------------------------------------------------------------------
and 85.00 87.00 2.00 0.02
---------------------------------------------------------------------------
TPCRC100 772700 8501434 Vertical 136.00 137.00 1.00 0.02
---------------------------------------------------------------------------
TPCRC101 772697 8501472 Vertical NSR
---------------------------------------------------------------------------
TPCRC102 772789 8501740 129 -70 194.00 202.00 8.00 0.09
---------------------------------------------------------------------------
TPCRC103 772235 8501034 Vertical NSR
---------------------------------------------------------------------------
Notes:
-- Datum is MGA Zone 52 GDA94, collar positions recorded using GPS
-- NSR equals No results above 100ppm U3O8
-- Holes designated TPCRC were drilled by reverse circulation
-- Holes designated TPCRD were pre-collared by reverse circulation with
diamond core tails through the target zone
About Crocodile Gold
Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,500 km2. Crocodile Gold is currently mining from the Howley, North Point and Princess Louise open pit mines and the Brocks Creek underground mine. Crocodile Gold commenced mining in November 2009 and announced its first gold pour in December 2009 at its Union Reefs Mill. The Company is currently developing the Cosmo underground mine. Ore is currently processed at the 2.4 million tonne per year Union Reefs Mill. Crocodile Gold has 3.09 million ounces of NI 43-101 compliant measured and indicated resources (42.9 million tonnes at an average grade of 2.3 g/t gold) and 1.94 million ounces of inferred resources (26.7 million tonnes at an average grade of 2.3 g/t gold) (see Annual Information Form dated March 31, 2010 and Crocodile Gold press releases dated September 8, 2009 and January 25, 2010). The Company has an exploration program in place and is drilling on several key properties on its expansive land package. Crocodile Gold's main focus is on the Cosmo/Howley corridor which covers a five kilometre strike length of a 25 kilometre trend.
Qualified Person
Mark Edwards, Geology Manager of Crocodile Gold Australia Operations is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and confirmed the technical information and data included in this press release.
Drill samples were assayed at Northern Territory Environmental Laboratories (NTEL).
Cautionary Note
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management's assessment of Crocodile Gold's future plans, operations and mineral resource estimates and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. 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. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
To view the Figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/crk_09_30_2010_figures.pdf
Contacts:
Crocodile Gold Corp.
Michael Hoffman
President and CEO
416-861-2964
Crocodile Gold Corp.
Ashleigh Clelland
Manager, Investor Relations
416-861-5899
info@crocgold.com
www.crocgold.com
Source: Marketwire (September 30, 2010 - 7:15 AM EDT)
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GeoBio Energy, Inc. Signs Letter of Intent to Acquire Pipeline Construction Company
Sep. 30, 2010 (GlobeNewswire) --
SEATTLE, Sept. 30, 2010 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio"), pursuing its plan to become a dominant player in the oil and natural gas services industry, today announced the signing of a Letter of Intent to acquire all of the ownership interests of a Grand Junction, Colorado based pipeline construction company (the "Pipeline Construction Company"). GeoBio expects that the combination of the Pipeline Construction Company with the previously announced, anticipated acquisition of a Colorado based, civil construction company will provide a solid base for growing the GeoBio construction business.
The Pipeline Construction Company is a contractor servicing the oil and natural gas drilling, production and transmission industry that operates in the Piceance Creek Basin in Colorado, Wyoming, North Dakota, Utah and New Mexico. It has grown rapidly and profitably, generating over 50% compound annual growth rate and an average 40% EBITDA over the last three years. The Pipeline Construction Company, coupled with the anticipated closing of Magna Energy Services ("Magna"), a chemical treatment company operating in the San Juan Basin shale play area of New Mexico, provides a solid platform for substantial growth.
GeoBio and the Pipeline Construction Company are currently finalizing the definitive acquisition agreement, under which GeoBio proposes to acquire the Pipeline Construction Company for a combination of cash, debt and equity in GeoBio, with an anticipated closing within 120-days of the Letter of Intent.
As of 2008, Colorado was the 8th leading state for total number of producing natural gas wells, at 25,716. The year also saw natural gas consumption reach near-record levels of 23.2 trillion cubic feet, of which Colorado was an important supplier. With the recent completion of the Rockies Express West interstate pipeline, and anticipated drilling increases in 2010 - 2011 by the operators in Piceance, the Pipeline Construction Company is in a strong position to become one of the leading pipeline contractors in the region.
Further, given that the Piceance Creek Basin is developing at a rapid pace, GeoBio intends to rapidly establish chemical blending and service operations in the Piceance Basin utilizing the relationships of the Pipeline Construction Company. GeoBio expects to grow organically by expanding geographically through the existing relationships of its pending business acquisitions and taking advantage of synergies between the customer bases of Magna and the Pipeline Construction Company.
The demand for oil and natural gas continues to increase in North America and around the world. New exploration and production is expanding at a rapid pace, especially in the shale areas of the U.S. The newly developing Marcellus shale play in Pennsylvania, along with Texas and Louisiana shale plays, are all planned expansion areas for GeoBio.
John L. Sams, incoming CEO of GeoBio, commented, "We are excited about the opportunities in the oil and natural gas service markets of North America. We anticipate that the Pipeline Construction Company, along with Magna, provides a solid platform for potential, long term growth, expansion and profitability, while creating immediate opportunities for revenue and profits. With a proactive strategic sales and marketing plan, taking advantage of the synergies between the two companies, cross selling and expanding capabilities and geographic operations, we believe this will create significant value for our shareholders."
Visit GeoBio's web site: http://www.geobioenergyinc.com/
About GeoBio Energy:
GeoBio Energy's business model emphasizes the acquisition and operation of existing companies in the oil and gas services and energy industry. As oil well and gas exploration continue in the face of ever rising demand, preparing and monitoring drilling sites and obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes this to be a significant growth opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector.
Safe Harbor Statement
This Press Release contains forward-looking statements generally identified as such because the statements will include the words such as GBOE "expects," "should," "believes," "intends," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GBOE disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Risks particularly associated with our current business include, but are not limited to the risks associated with our ability to (i) obtain the necessary financing to complete our prospective acquisitions of the Pipeline Construction Company, Magna and the Colorado civil construction company and to finance our current operations, (ii) generate sufficient revenue and obtain profitability, (iii) obtain additional financing as needed, (iv) manage changes in general economic and business conditions (both generally and in the natural gas and oil services and the energy industry), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) identify and manage risks in connection with acquisitions (viii) evaluate the level of demand and market acceptance of our services and (ix) make necessary changes to our business strategies.
CONTACT: GeoBio Energy Corporation
Investor Relations
Joseph J. Malone
786-375-0556
info@geobioenergyinc.com
www.SmallCap1.com
Source: Globe Newswire (September 30, 2010 - 7:00 AM EDT)
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Garb (OTCBB: GARB) Introduces Its High Throughput MSW Recycling Secondary Shredder and Granulators, Available for Sale Immediately (OTCQB: GARB)
The Garb MSW80/120 With Innovative Knife Adjusting Technology and 5 Year Warranty
Sep. 30, 2010 (Marketwire) --
SALT LAKE CITY, UT -- (Marketwire) -- 09/30/10 -- Garb Oil & Power Corporation (OTCBB: GARB) (OTCQB: GARB) www.garbop.com announces the introduction of its heavy duty, high throughput Secondary Shredders and Granulators, using knife adjusting technology.
Garb President John Rossi states, "We have provided all of our Secondary Shredders - Granulators with semiautomatic, or as an option fully automatic, knife adjustment system. This means the knife can be adjusted during operation without stopping the machine. This procedure leads to a re-sharpening of the knives."
Garb CTO Igor Plahuta states, "To make this happen, we have implemented this knife adjustment system in our secondary shredders in order to ensure a more or less equal rotor knife position in relation to the stator knives. This is very important for wear intensive production such as tire and E-Scrap (E-Waste) shredding, where the knives need to be adjusted 4 times a day which normally creates a downtime of 3-4 hours each day. By this adjustment system we have created a machine with an availability of 95%. In less wear intensive applications like waste shredding, the availability of the machine is more important. Large volume plants rely on the capacity and workability of such machines to sustain throughput and maximize production."
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Secondary Shredders - Granulators
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Rotor dimension Max. Weight in Screen size in Through
sizes in inches power tons inches (mm) put rate
PRODUCT (mm) in kw
NAME
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Municipal & Domestic Waste
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GARB 36.4 x 54.5 300 35 2.27 (50) 15-25
MSW80/120 (800 x 1200) ton/h
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ALL MACHINES HAVE A 5 YEAR WARRANTY*
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*wear and tear parts excluded
Garb Oil & Power Corporation is a company dedicated to the application of ClosedCycle™ technology and NoWaste™ residue. Our processing plants for tire recycling, E-Waste recycling and E-Scrap recycling Recycling, Waste to Energy and OTR, are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste™. It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle™ principle and a world with NoWaste™ www.garbop.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb Oil & Power Corporation is not required to update its forward-looking statements.
CONTACT:
Garb Oil & Power Corporation
John Rossi
President
Ph: +1-801-738-1355
Fax: +1-801-738-1102
Email Contact
www.garbop.com
Source: Marketwire (September 30, 2010 - 7:00 AM EDT)
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Settlement Agreement with Former and Disabled Canadian Employee Representatives-Transfer of Canadian Registered Pension Plans
Sep. 29, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/29/10 -- Nortel(1) Networks Corporation (OTCBB: NRTLQ) today reconfirmed that as of October 1st, 2010, the administration of the Nortel Networks Negotiated Pension Plan and the Nortel Networks Limited Managerial and Non-Negotiated Pension Plan (the "Pension Plans") will be transitioned to Morneau Sobeco Limited Partnership, the replacement administrator appointed by the Ontario Superintendent of Financial Services (the "Superintendent"). This transition is pursuant to the court approved Settlement Agreement with former and disabled Canadian employee representatives initially announced on February 8, 2010, and is in accordance with the Ontario Pension Benefits Act.
Nortel and its court appointed Monitor, Ernst & Young Inc., have been actively working toward a smooth transition of the Pension Plans and have been in ongoing discussions with the Superintendent. Effective October 1, 2010, all inquiries regarding the Pension Plans should be directed to the replacement plan administrator, Morneau Sobeco Limited Partnership at 1-877-392-2074 with regards to the Managerial Plan and 1-877-392-2073 with regards to the Negotiated Plan or at the dedicated email address at nortelwindup@morneausobeco.com. The replacement administrator has advised Nortel that current monthly pension payments will continue unchanged until it notifies pensioners that a change will be made and that this is not expected to occur before the end of 2010.
Ongoing information can be found on and after October 1, 2010 at www.pensionwindups.morneausobeco.com.
As a reminder contact information for counsel in these proceedings is:
LTD Beneficiaries - Koskie Minsky LLP (1-866-777-6344) or www.kmlaw.ca.
Continuing Employees, which group includes employees whose employment has transferred to purchasers of Nortel business units after January 14, 2009 - Nelligan O'Brien Payne LLP and Shibley Righton LLP at (1-888-565-9912) or ncce@nelligan.ca.
Members or former members of the CAW represented by counsel to the CAW - Barry Wadsworth at 1-800-268-5763 ext. 3776 or by e-mail to mbondy@caw.ca.
Former Employees (including pensioners and those receiving survivor benefits) - Koskie Minsky LLP at 1-866-777-6344 or www.kmlaw.ca.
About Nortel
For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.
Certain statements in this press release may contain words such as "could," "expects," "may," "should," "will," "anticipates," "believes," "intends," "estimates," "targets," "plans," "envisions," "seeks" and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on Nortel's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which Nortel operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. Nortel's assumptions, although considered reasonable by Nortel at the date of this press release, may prove to be inaccurate and consequently Nortel's actual results could differ materially from the expectations set out herein.
Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) risks and uncertainties relating to the Creditor Protection Proceedings including: (a) risks associated with Nortel's ability to: stabilize the business and maximize the value of Nortel's businesses; obtain required approvals and successfully consummate pending and future divestitures; ability to satisfy transition services agreement obligations in connection with divestiture of operations; successfully conclude ongoing discussions for the sale of Nortel's other assets or businesses; develop, obtain required approvals for, and implement a court approved plan; resolve ongoing issues with creditors and other third parties whose interests may differ from Nortel's; generate cash from operations and maintain adequate cash on hand in each of its jurisdictions to fund operations within the jurisdiction during the Creditor Protection Proceedings; access the EDC Facility given the current discretionary nature of the facility, or arrange for alternative funding; if necessary, arrange for sufficient debtor-in-possession or other financing; continue to have cash management arrangements and obtain any further required approvals from the Canadian Monitor, the U.K. Administrators, the French Administrator, the Israeli Administrators, the U.S. Creditors' Committee, or other third parties; raise capital to satisfy claims, including Nortel's ability to sell assets to satisfy claims against Nortel; maintain R&D investments; realize full or fair value for any assets or business that are divested; utilize net operating loss carryforwards and certain other tax attributes in the future;
avoid the substantive consolidation of NNI's assets and liabilities with those of one or more other U.S. Debtors; attract and retain customers or avoid reduction in, or delay or suspension of, customer orders as a result of the uncertainty caused by the Creditor Protection Proceedings; maintain market share, as competitors move to capitalize on customer concerns; operate Nortel's business effectively under the new organizational structure, and in consultation with the Canadian Monitor, and the U.S. Creditors' Committee and work effectively with the U.K. Administrators, French Administrator and Israeli Administrators in their respective administration of the EMEA businesses subject to the Creditor Protection Proceedings; continue as a going concern; actively and adequately communicate on and respond to events, media and rumors associated with the Creditor Protection Proceedings that could adversely affect Nortel's relationships with customers, suppliers, partners and employees; retain and incentivize key employees and attract new employees as may be needed; retain, or if necessary, replace major suppliers on acceptable terms and avoid disruptions in Nortel's supply chain; maintain current relationships with reseller partners, joint venture partners and strategic alliance partners; obtain court orders or approvals with respect to motions filed from time to time; resolve claims made against Nortel in connection with the Creditor Protection Proceedings for amounts not exceeding Nortel's recorded liabilities subject to compromise; prevent third parties from obtaining court orders or approvals that are contrary to Nortel's interests; reject, repudiate or terminate contracts; and (b) risks and uncertainties associated with: limitations on actions against any Debtor during the Creditor Protection Proceedings; the values, if any, that will be prescribed pursuant to any court approved plan to outstanding Nortel securities and, in particular, that Nortel does not expect that any value will be prescribed to the NNC common shares or the NNL preferred shares in any such plan; the delisting of NNC common shares from the NYSE; and the delisting of NNC common shares and NNL preferred shares from the TSX; and (ii) risks and uncertainties relating to Nortel's business including: the sustained economic downturn and volatile market conditions and resulting negative impact on Nortel's business, results of operations and financial position and its ability to accurately forecast its results and cash position;
cautious capital spending by customers as a result of factors including current economic uncertainties; fluctuations in foreign currency exchange rates; any requirement to make larger contributions to defined benefit plans in the future; a high level of debt, arduous or restrictive terms and conditions related to accessing certain sources of funding; the sufficiency of workforce and cost reduction initiatives; any negative developments associated with Nortel's suppliers and contract manufacturers including Nortel's reliance on certain suppliers for key optical networking solutions components and on one supplier for most of its manufacturing and design functions; potential penalties, damages or cancelled customer contracts from failure to meet contractual obligations including delivery and installation deadlines and any defects or errors in Nortel's current or planned products; significant competition, competitive pricing practices, industry consolidation, rapidly changing technologies, evolving industry standards, frequent new product introductions and short product life cycles, and other trends and industry characteristics affecting the telecommunications industry; any material, adverse affects on Nortel's performance if its expectations regarding market demand for particular products prove to be wrong; potential higher operational and financial risks associated with Nortel's international operations; a failure to protect Nortel's intellectual property rights; any adverse legal judgments, fines, penalties or settlements related to any significant pending or future litigation actions; failure to maintain integrity of Nortel's information systems; changes in regulation of the Internet or other regulatory changes; and Nortel's potential inability to maintain an effective risk management strategy.
For additional information with respect to certain of these and other factors, see Nortel's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
(1)Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.
Contacts:
Nortel
Media Relations
MediaRelations@nortel.com
www.nortel.com
Source: Marketwire (September 29, 2010 - 4:41 PM EDT)
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Magnolia Solar Corporation Issues a Letter to the Shareholders
Sep. 29, 2010 (Marketwire) --
WOBURN, MA -- (Marketwire) -- 09/29/10 -- Magnolia Solar Corporation (OTCBB: MGLT) ("Magnolia Solar")
To the Shareholders of Magnolia Solar Corporation:
Dear Shareholder:
As President and Chief Executive Officer of Magnolia Solar Corporation, I would like to take this opportunity to share with you my excitement about our upcoming business opportunities, our vision for the future, past successes, and tell you about our motivation for starting Magnolia Solar (OTCBB: MGLT), a company that is developing the next generation of nanostructure based thin-film solar cells that convert light energy into electrical power.
Our vision is to make affordable, renewable energy available to everyone by improving its efficiency and thereby lowering its cost. The U.S. Energy Information Administration (EIA) stated in their 2010 report, that net world electricity generation will increase from 18.8 trillion kilowatt hours (KWH) in 2007 to 25 trillion KWH in 2020 and 35.2 KWH in 2035. And renewable energy will play a significant role in helping meet this demand.
Magnolia Solar believes that it can become the world's low cost thin-film solar power producer by reducing manufacturing costs to significantly less than $1 per watt for a solar PV module. Our ability to reduce manufacturing costs incorporates three product development strategies unique to Magnolia Solar. First, we are developing our solar cell technology at the Albany Nanotech Center of the College of Nanoscale Science and Engineering where the equipment needed to develop our products is already in place. Second, Magnolia Solar is using government funds to meet most of the development costs. We have already received development contracts from the New York State Energy Research and Development Authority (NYSERDA) and from the United States Air Force. Third, our technology embodies unique features that we expect will allow us to achieve the efficiencies of conventional silicon-based solar cells at much lower costs. These technologies incorporate materials that capture a wider spectrum of the sun's energy so that we can produce electricity even when the sun is not shining directly on the panels.
Due to the reasons cited above, we are very excited about our future business prospects and believe that we have the potential to achieve one of the lowest cost/watt profiles in the solar photovoltaic industry.
Magnolia Solar appreciates the support we have received from our shareholders, and are thankful to many people and government agencies that believe in our vision who have supported us. We invite you to be part of this vision and join us in our journey to make inexpensive, renewable, and non-toxic solar power technology a reality.
For a complete copy of this release please visit www.magnoliasolar.com.
Dr. Ashok K. Sood
President and CEO
Contact:
Ronald J. Blekicki
Email Contact
1-303-494-3617
Source: Marketwire (September 29, 2010 - 4:45 PM EDT)
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TRX Provides Corporate Travel Managers Clear Path to Navigate the Impact of Airline Mergers
Sep. 29, 2010 (PR Newswire) --
ATLANTA, Sept. 29 /PRNewswire/ -- TRX, Inc. (www.trx.com) (Other OTC: TRXI), a world-leading provider of travel technology, process automation, consulting and data services, provides unique airline merger analysis through its award-winning Travel Analytics consulting and TRX Airline Contract Manager utility, helping corporate travel managers quantify the impact of airline mergers on their travel program.
The planned Southwest Airlines and AirTran Airways merger highlights the potential impact of airline industry changes on corporate travel programs. Typically, corporations leverage negotiated rates as a key element in controlling travel expenses. When mergers occur, the dynamics of those negotiated rates can shift drastically for both corporations and airlines. Understanding how mergers enhance or erode a corporation's negotiating position, intelligence into potential changes in a corporation's preferred airline program or insight into other possible new airline combinations becomes critical to the success of any corporate travel program.
TRX's airline merger analysis solution combines TRX's Travel Analytics consulting with its Airline Contract Manager utility by acquiring and consolidating global travel data from a wide-range of sources, evaluating all contract parameters including overlapping and competitive markets, and mapping transaction data to specific contracts. TRX's unique approach to assessing the impact of an airline merger provides actionable insights to corporate travel managers.
"TRX has the industry's most powerful suite of airline sourcing tools and a well-earned reputation for delivering significant savings opportunities to our clients," said Shane Hammond, President and CEO of TRX. "We combine powerful Travel Analytics expertise and our industry leading Airline Contract Management solution to mine for savings options our clients can leverage for their benefit."
About TRX
TRX is a world-leading travel technology and data services provider, offering more than 20 software-as-a-service utilities for online booking, reservation processing, data intelligence, and process automation. We deliver our technology applications in an on-demand environment to travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. We provide patented savings maximization solutions via our travel analytics consulting practice, extending spend management services to travel buyers all over the world. We complement all of these offerings with a global workforce focused on travel process automation and reengineering. For more information about TRX or to contact a TRX sales office, phone 404.929.6100 or visit the company's website at www.trx.com.
SOURCE TRX, Inc.
Stephen Carroll, Senior Director, Product Marketing, TRX, Inc., +1-214-346-4758, stephen.carroll@trx.com
Source: PR Newswire (September 29, 2010 - 5:00 PM EDT)
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OPTi Enters into Patent License and Arbitration Settlement Agreement with NVIDIA Corporation
Sep. 29, 2010 (Business Wire) -- OPTi Inc. (OTCBB:OPTI) announces that it has entered into a patent licensing and arbitration settlement agreement with NVIDIA Corporation (“NVIDIA”). Under the terms of the agreement, not later than October 1, 2010, OPTi will receive one lump sum payment of $2,000,000 for granting NVIDIA a fully paid-up license to the Pre-Snoop patents under the terms of the license agreement that was the subject of a pending arbitration between the parties.
On December 3, 2009, the Company announced that it initiated arbitration against NVIDIA because OPTi believed that NVIDIA breached the terms of a license agreement between NVIDIA and OPTi, dated August 3, 2006. The parties had entered into the August 3, 2006 license agreement in settlement of patent infringement claims that OPTi had brought against NVIDIA. The August 3, 2006 license agreement provided that OPTi was to receive quarterly royalty payments of $750,000 commencing in February 2007 and continuing as long as NVIDIA continued to use OPTi's pre-snoop technology up to a maximum of 12 such payments. OPTi filed an earlier arbitration against NVIDIA and was awarded five quarterly payments, totaling $3,750,000, for the period of February 1, 2007 to April 30, 2008. Because OPTi believed that NVIDIA had continued to use the pre-snoop technology, but had not made any of the required quarterly payments since the last arbitration ruling, OPTi initiated the December 2009 arbitration. The agreement announced today resolves all issues in the December 2009 arbitration and represents the final payment that will be received by OPTi from NVIDIA under the August 3, 2006 License Agreement.
Information set forth in this release constitutes and includes forward looking information made within the meaning of Section 27A of the Security Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended, that involve risks and uncertainties. Readers are encouraged to refer to “Factors Affecting Earnings and Stock Price” found in the Company’s latest Form 10-K and 10-Q filings with the Securities and Exchange Commission.
OPTi Inc.
Bernard Marren, President & CEO, 650-213-8550
Michael Mazzoni, CFO, 650-213-8550
Source: Business Wire (September 29, 2010 - 5:00 PM EDT)
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Plaza Bank Prepared to Respond to New Small Business Jobs Act
Sep. 29, 2010 (Marketwire) --
LAS VEGAS, NV -- (Marketwire) -- 09/29/10 -- Plaza Bank (OTCBB: PLZB) announced today that it is preparing to capitalize on its well established small business lending expertise to meet a significant increase in business loan volume and activity anticipated in the fourth quarter as a result of the recent signing of the Small Business Jobs Act (HR 5297).
The Act provides $12 billion in tax benefits and a $30 billion lending fund for small businesses, the Bank's primary customer base. Plaza's goal is to fund $100 million in new commercial loans, both conventional and SBA, during the next 12 months.
"Las Vegas has been in the eye of the storm of this economic crisis. As we begin to see turnaround indicators within the hospitality industry and other economic areas, this Act is a very important step in the right direction," says Ali Rizvi, Chief Banking Officer at Plaza Bank, Las Vegas.
Provisions of the Act include incentives to healthy community banks for increases in small business lending, as well as an extension of the 90 percent SBA guarantee on small business loans which began in 2009 and expired in May.
Plaza Bank's marketing plan focuses on providing superior service and a wide array of lending choices to small to medium-size traditional businesses and professional firms. These customers are best able to benefit from the newly reduced or eliminated lending fees, increased loan limits and new incentives for debt refinancing.
"Unlike many community banks, we are in the position to proactively seek SBA and commercial loan clients and provide them with opportunities for growth," continues Rizvi. "The SBA estimates that a new job is created with every $35,000 loan, so our efforts will have a direct and positive impact on our community's job market."
Some of the provisions of the Jobs Act are effective immediately, while others will be implemented in stages through the Small Business Administration (SBA). Plaza Bank Las Vegas has hired an SBA loan expert to assist borrowers with the best strategy to utilize the benefits of the Act.
The Las Vegas branch of Plaza Bank is located at 4043 South Eastern Avenue, and can be reached at (702) 853-4700.
About Plaza Bank
Plaza Bank is a full-service business bank headquartered in Irvine, California with an additional full service branch location in Las Vegas, Nevada.
The Bank is dedicated to meeting the financial needs of the small business customer with innovative diverse products and personalized service. For additional information, visit the Plaza Bank website at www.plazabank.net.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Bank, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Media Contacts:
Gene Galloway
President
Plaza Bank
702-277-2221 or 949-502-4309
Email Contact
Stacey Divine
Infuze Marketing
916-662-8282
Email Contact
Source: Marketwire (September 29, 2010 - 5:18 PM EDT)
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Infrastructure Developments Awarded Design Build Contract in Indonesia
Sep. 29, 2010 (Marketwire) --
HERNDON, VA -- (Marketwire) -- 09/29/10 -- Infrastructure Developments Corp. (OTCBB: IDVC) announced today that its subsidiary, Intelspec International, Inc., has been awarded a design-build contract for the Lido Phase II Project in Indonesia.
The contract was competitively bid and awarded to Intelspec by the US Navy in the amount of $1,198,727. The work consists of designing and building a two storey barrack, dining facilities, a mess hall, a kitchen, roads, parking areas, and site utilities.
"Winning this contract is strategically important for our expansion into Indonesia and builds on Intelspec's continued relationship with the US Government as the right choice for difficult projects in remote locations of South East Asia," said Darren Smith, VP of Intelspec. "Our project management team and key subcontractors have experience with US Government contracts and Indonesian construction. We expect that the successful completion of this contract will propel Intelspec into involvement with numerous projects in the area."
Intelspec is pursuing other US Government and private projects in Indonesia that are scheduled for award in the coming months.
About Infrastructure Developments Corp.:
Infrastructure is an engineering and construction services company that services an underserved niche in the global project management spectrum, targeting specialized projects and subcontracts that are too small to attract giant multinational firms, but which still require world class engineering expertise. Staffed by key personnel with decades of experience in performing work for the US Department of Defense and the US Department of State, Infrastructure is familiar with the complex requirements of government contracts and the unusual challenges of performing high-standard work in challenging environments.
Forward-Looking Statements:
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including our ability to procure design and management projects, competitive market conditions, and our prospects for securing additional sources of financing as required. The actual results that Infrastructure may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Infrastructure encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-Q and Form 10-K. Infrastructure's public filings may be viewed at www.sec.gov.
Contact:
Infrastructure Developments Corp.
Thomas Morgan
CEO
703.574.3211
trmorgan@idvcinc.com
www.idvcinc.com
Morningstar Corporate Communications
Chris Dove
President
888.876.9995
info@mscorpcommunications.com
www.mscorpcommunications.com
Source: Marketwire (September 29, 2010 - 5:32 PM EDT)
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Plaza Bank Irvine Prepared to Respond to New Small Business Jobs Act
Sep. 29, 2010 (Marketwire) --
IRVINE, CA -- (Marketwire) -- 09/29/10 -- Plaza Bank (OTCBB: PLZB) announced today that it is preparing to capitalize on its well established small business lending expertise to meet a significant increase in business loan volume and activity anticipated in the fourth quarter as a result of the recent signing of the Small Business Jobs Act (HR 5297).
The Act effectively provides $12 billion in tax benefits and a $30 billion lending fund for small businesses, the Bank's primary customer base. Plaza's goal is to fund $100 million in new commercial loans, both conventional and SBA, during the next 12 months.
"In Southern California, we've seen a slow recovery thus far. We believe this Act will help facilitate the speed of that recovery dramatically," says Robert Forsythe, Chief Banking Officer at Plaza Bank.
Provisions of the Act include incentives to healthy community banks for increases in small business lending, as well as an extension of the 90 percent SBA guarantee on small business loans which began in 2009 and expired in May.
Plaza Bank's marketing plan focuses on providing superior service and a wide array of lending choices to small to medium-size traditional businesses and professional firms. These customers are best able to benefit from the newly reduced or eliminated lending fees, increased loan limits and new incentives for debt refinancing.
"The Federal government is giving us the tools and leverage to provide small business customers with far greater opportunity," continues Forsythe. "Fortunately, Orange County has consistently been a vibrant business community. This recent Act will supplement its growth."
Some of the provisions of the Jobs Act are effective immediately, while others will be implemented in stages through the Small Business Administration (SBA). Plaza Bank SBA business loan advisors are trained and ready to assist borrowers with the best strategy to utilize the benefits of the Act.
The Irvine branch of Plaza Bank is located at 19900 MacArthur Boulevard, Suite 190, and can be reached by phone at (949) 502-4300.
About Plaza Bank
Plaza Bank is a full-service business bank headquartered in Irvine, California with an additional full service branch location in Las Vegas, Nevada.
The Bank is dedicated to meeting the financial needs of the small business customer with innovative diverse products and personalized service. For additional information, visit the Plaza Bank website at www.plazabank.net.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Bank, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Media Contacts:
Gene Galloway
President - Plaza Bank
702-277-2221 or 949-502-4309
Email Contact
Stacey Divine
Infuze Marketing
916-662-8282
Email Contact
Source: Marketwire (September 29, 2010 - 6:01 PM EDT)
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Webtradex International announces private placement financing of up to US$1,500,000
Sep. 29, 2010 (Baystreet.ca) --
WEST PALM BEACH, FL -- Webtradex International Corp. (OTCBB: ZDVN) ("The Company") announces that the Board of Directors has approved on September 24th, 2010 a private placement financing, pursuant to which the Company will offer up to 3 million units at $0.50 per unit for gross proceeds of up to $1.5 million. Each unit comprises one common share of the Company and one common share purchase warrant, which can be converted into one common share of the Company within twelve months at an exercise price of $0.75 per share.
The proceeds, net of direct expenses, will be used for working capital and acquisitions.
ABOUT THE COMPANY
Webtradex International Corporation is seeking to expand into the internet industry by acquiring internet-related technologies and other related assets.
This News Release does not constitute an offer to sell or a solicitation of an offer to sell any 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.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a results of new information, future events or otherwise, except as required by law.
SOURCE Webtradex International Corp.
Source: Accesswire (September 29, 2010 - 6:11 PM EDT)
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LecTec Corporation Announces Orders Provided by United States District Court
Sep. 29, 2010 (Business Wire) -- LecTec Corporation (OTCBB: LECT) announced today that the United States District Court for the Eastern District of Texas issued an Order on September 28, 2010, in regard to the patent infringement litigation entitled LecTec Corporation v Chattem, Inc. et al. Defendants Prince of Peace Enterprises, Inc., and Chattem, Inc. had requested permission to file motions for summary judgment: (1) of invalidity due to the on-sale bar of 35 U.S.C. § 102(b); and (2) regarding Defendants’ defenses of equitable estoppels and laches. Lectec had requested permission to file motions for summary judgment: (1) on, and to preclude testimony related to, Defendants’ 35 U.S.C. § 102(b) defense based on the Aqua-Patch; and (2) on infringement by Defendants.
The Order granted Defendants’ the right to file a summary judgment motion regarding on-sale bar, but denied them the opportunity regarding the equitable defenses of estoppel and laches. With regard to the equitable issues, the Court stated that the custom in patent cases is to hold a separate bench proceeding after the jury trial on such issues. The Order granted LecTec the right to file summary judgment motions on infringement and to preclude Defendants Aqua-Patch defense. LecTec will oppose Defendants’ expected Motion.
Greg Freitag, LecTec’s CEO stated: “This completes another round of actions in our litigation as the Court has expressed a willingness to consider and evaluate each parties’ position on summary judgment before trial. We are preparing our motions which are due by November 4, 2010 and will oppose Defendants’ Motion. We continue to be confident in our arguments against Defendants’ claims and our ability to prevail in these matters.”
About LecTec
LecTec is an intellectual property (“IP”) licensing and holding company with approximately $9.6M in cash at June 30, 2010. LecTec holds multiple domestic and international patents based on its original hydrogel patch technology and has also filed for a provisional patent for its hand sanitizer patch. The LecTec hydrogel patch technology allows for a number of potential applications, including its previously marketed TheraPatch® products, while its anti-microbial hand sanitizer patch is intended to be dry, thereby rendering the patch harmless in the event that it is licked, chewed, or exposed to the eye. An initial prototype of the hand sanitizer patch has been developed and LecTec intends to engage a strategic partner to complete its hand sanitizer patch development and bring it to market. LecTec also has a licensing agreement (“Novartis Agreement”) with Novartis Consumer Health, Inc., which pays royalties to LecTec from time to time, within the terms of the Novartis Agreement, based upon a percentage of Novartis’ net sales of licensed products. LecTec takes legal action as necessary to protect its IP and is currently involved in two patent infringement actions. Finally, LecTec is pursuing a merger/acquisition strategy with the intent to leverage its cash asset and improve shareholder value and liquidity. The Company’s website is www.lectec.com.
Cautionary Statements
This press release contains forward–looking statements concerning possible or anticipated future results of operations or business developments which are typically preceded by the words “believes,” “wants,” “expects,” “anticipates,” “intends,” “will,” “may,” “should,” or similar expressions. Such forward looking statements are subject to risks and uncertainties, which could cause results or developments to differ materially from those, indicated in the forward–looking statements. Such risks and uncertainties include, but are not limited to, the Company’s dependence on royalty payments from Novartis Consumer Health, Inc., which is selling an adult vapor patch licensed by the Company, the Company’s dependence on key personnel and Board of Director members, the Company’s pending patent infringement litigation against Chattem, Inc. and Prince of Peace Enterprises, Inc., the issuance of new accounting pronouncements, information disseminated on internet message boards from posters expressing opinions that may or may not be factual, the availability of opportunities for license, sale or strategic partner agreements related to patents that the Company holds, limitations on market expansion opportunities, and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission, and particularly as described in the “Risk Factors” included in our Form 10–K for the year ended December 31, 2009.
LecTec Corporation
Greg Freitag, CEO/CFO
903-832-0993
Source: Business Wire (September 29, 2010 - 7:01 PM EDT)
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Security Federal Corporation Announces Participation in U.S. Treasury's Community Development Capital Initiative
Sep. 29, 2010 (Business Wire) -- Security Federal Corporation (“Company”) (OTCBB:SFDL), the holding company for Security Federal Bank, today announced that it was approved to participate in United States Department of the Treasury’s (the “Treasury”) Community Development Capital Initiative (“CDCI”). The CDCI was established by the Treasury to invest lower cost capital in Community Development Financial Institutions (“CDFI”), supporting their efforts to provide credit to small businesses and other qualified customers during this challenging economic period.
In connection with its participation in the CDCI, the Company (i) exchanged all $18.0 million aggregate liquidation preference amount of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”), previously sold to the Treasury pursuant to the TARP Capital Purchase Program, for $18.0 million aggregate liquidation amount of the Company’s newly designated Fixed Rate Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”), (ii) sold 400,000 shares of its common stock at $10.00 per share in a private offering to board members of the Company as a result of a required match, for aggregate gross proceeds of $4.0 million; and (iii) received an additional $4.0 million investment from the Treasury through the sale of an additional $4.0 million aggregate liquidation preference amount of Series B Preferred Stock to the Treasury. The additional $4.0 million investment from the Treasury was contingent upon the completion of the $4.0 million match through a private offering of common stock.
Participation in the CDCI will provide the Company with $4.0 million in additional capital, along with the $4.0 million from the sale of additional common stock and lowers the cost of capital received from the Treasury. The annual dividend rate on the Series A Preferred Stock was 5% and was to have increased to 9% on February 15, 2014. The annual dividend rate on the Series B Preferred Stock will be 2% for the first eight years from the date of issuance and 9% thereafter if still then outstanding. The Company and Security Federal Bank must maintain eligibility as a community development financial institution (“CDFI”) under Treasury regulations, otherwise, the annual dividend rate on the Series B Preferred Stock will increase to 5% if it is not corrected within 180 days and will further increase to 9% if not corrected after 270 days.
Security Federal Bank has 13 full service branch locations in Aiken, Clearwater, Graniteville, Langley, Lexington, North Augusta, Wagener, Columbia and West Columbia, South Carolina and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.
Forward-looking statements:
Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company’s mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. The Company’s actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to, interest rate fluctuations; changes in the level and trend of loan delinquencies and write-offs; economic conditions in the Company’s primary market area; results of examinations of us by the Office of Thrift Supervision or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require us to increase our reserve for loan losses or to write-down assets; demand for residential, commercial business and commercial real estate, consumer, and other types of loans; success of new products; competitive conditions between banks and non-bank financial service providers; regulatory and accounting changes; technology factors affecting operations; pricing of products and services; and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2010. Accordingly, these factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company undertakes no responsibility to update or revise any forward-looking statement.
Security Federal Corporation
Roy Lindburg, Chief Financial Officer, 803-641-3070
Source: Business Wire (September 29, 2010 - 7:12 PM EDT)
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ARGEX MINING ANNOUNCES COMPLETION OF OVERSUBSCRIBED $5,250,000 SPECIAL WARRANT PRIVATE PLACEMENT THROUGH MGI SECURITIES
Sep. 29, 2010 (Canada NewsWire Group) --
Subscribers include 11 institutional investors
Size of the private placement increased to meet demand
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, Sept. 29 /CNW Telbec/ - Argex Mining Inc. ("Argex") (TSX-V: RGX) (FSE: ASV) (OTCBB: ARGEF) is pleased to announce that it has completed its previously-announced private placement by issuing an aggregate of 17,500,000 special warrants (each, a "Special Warrant") at a price of $0.30 per Special Warrant, for gross proceeds to Argex of $5,250,000.
Each Special Warrant entitles its holder to purchase, for no additional consideration, one common share (each, a "Common Share") and one common share purchase warrant (each, a "Warrant") of Argex. Each Warrant will entitle its holder to purchase one additional Common Share at a price of $0.52 until September 29, 2014.
Argex intends to use the net proceeds from the private placement to fund ongoing metallurgical, engineering and development projects, and for working capital and general corporate purposes. "The proceeds from this private placement will allow Argex to accelerate its engineering and scoping study work on the La Blache Project, which Argex intends to have ready for mini-plant work in 2011," said Michael Dehn, President and Chief Executive Officer of Argex.
Argex will file a prospectus with the securities commissions of certain of the provinces of Canada to qualify the Common Shares and Warrants issuable upon the exercise of the Special Warrants. In the event that Argex fails to obtain a receipt for a final prospectus by January 30, 2011, each Special Warrant will entitle its holder to purchase, for no additional consideration, 1.1 Common Shares and 1.1 Warrants (in lieu of one Common Share and one Warrant). The Special Warrants will be automatically exercised (if not previously exercised) on the earlier of January 30, 2011, and the fifth business day after a receipt has been issued for the final prospectus.
MGI Securities Inc. ("MGI") acted as agent for the private placement. In connection with the private placement, Argex paid MGI a cash commission of $388,944 and issued non-transferable broker warrants to MGI and Wellington West Capital Markets Inc., entitling them to acquire a maximum of 1,750,000 units (each, a "Unit") of Argex at a price of $0.30 per unit until September 29, 2012. Each Unit will be comprised of one Common Share and one Warrant. Each Warrant will entitle its holder to acquire one additional Common Share at a price of $0.52 per Common Share until September 29, 2014.
As the date hereof there are 56,992,300 common shares of Argex issued and outstanding. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period expiring on January 30, 2011.
About MGI Securities Inc.
MGI is an integrated Canadian investment dealer offering professional wealth management solutions for individual investors, a comprehensive range of specialized services for institutional investors, and corporate finance advisory services for issuers, including mergers and acquisitions, equity underwritings, corporate restructuring, structured financings, market research, and business valuation services. MGI is based in Toronto, with additional offices in Winnipeg, Saskatoon, Calgary and London, Ontario. MGI is a member of IIROC and is a subsidiary of Jovian Capital Corporation (TSX: JOV.TO). MGI has approximately $1.3 billion in client assets under administration.
About Argex Mining Inc.
Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Québec, Canada. Headquartered in Montreal, Québec, the company is committed to the interests of its shareholders, with plans to rapidly advance towards titanium production at the 100%-owned La Blache deposit located near Baie-Comeau, Québec. Argex also owns 100% of the Mouchalagane Iron Ore project, 380 kilometres north of Baie-Comeau, Québec and of the same type of deposit as ore bodies currently being mined by Québec Cartier Mining's (Arcelor Mittal) Fire Lake Mine and Consolidated Thompson's Bloom Lake Mine. Recently, Argex expanded its land holdings near Baie-Comeau, Québec surrounding Consolidated Thompson's Lac Brûlé Titanium-Iron-Vanadium deposit. For additional information, please visit our website at www.argex.ca.
Forward-LookingStatements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities
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.
Michael Dehn, President and CEO
Argex Mining Inc.
647-477-2382
michael@avantimac.com
Or
Paradox Public Relations at 514-341-0408 or 1-866-460-0408
Source: Canada Newswire (September 29, 2010 - 7:12 PM EDT)
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Left Behind Games Goes National with Walmart
Sep. 30, 2010 (Business Wire) -- Left Behind Games Inc. (OTCBB:LFBG), a leading publisher of Christian video games, announced that two of its latest PC games will be available in Walmart Stores nationally before the end of October. Left Behind 3: Rise of the Antichrist ($29.96) is the third game based upon the #1 New York Times best-selling novel series by Tim LaHaye and Jerry Jenkins, which has sold more than 65 million books worldwide. Charlie Church Mouse: Superpack ($19.96), featuring the famous TV show character, is a bundle of the popular pre-school, kindergarten and early elementary games.
Left Behind Games CEO, Troy Lyndon says, "We are delighted to offer healthy alternatives into the PC game marketplace and pleased to see these games get the exposure they deserve by becoming available in Walmart nationally.”
The Christian entertainment market has already grown to represent a significant part of American culture in various forms of media including Books, Radio, Television, Films and Music. Left Behind Games is a leading pioneer in the new genre of Christian video games.
About Left Behind Games Inc.
Left Behind Games Inc., dba Inspired Media Entertainment, is the only publicly-traded exclusive publisher of Christian video game software. They produce quality interactive entertainment products that perpetuate positive values and appeal to faith-based and mainstream audiences. For more information, go to www.leftbehindgames.com.
LB GAMES, LEFT BEHIND 3: RISE OF THE ANTICHRIST, CHARLIE CHURCH MOUSE, PRAISE CHAMPION AND KING SOLOMON’S TRIVIA CHALLENGE are trademarks of Left Behind Games Inc. in the U.S. and other countries. All rights reserved.
LEFT BEHIND is a registered trademark of Tyndale House Publishers, Inc. in the U.S. and other countries. All rights reserved.
Caution Concerning Forward-Looking Statements
This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or expectations of Left Behind Games. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that results may differ materially from such statements.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6449392&lang=en.
for Left Behind Games
MEDIA CONTACT:
Angela Dalmas, 916-990-3447 direct
angela@inspiredmedia.com
or
INVESTOR RELATIONS CONTACT:
Norma Mortensen, 951-894-6597 ext 334
norma@inspiredmedia.com
Source: Business Wire (September 30, 2010 - 1:15 AM EDT)
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PHILand Ranch Signs Agreement to Co-Develop Part of Hanoi South An Khanh New City
Sep. 30, 2010 (Marketwire) --
FRANKFURT, GERMANY and LOS ANGELES, CA -- (Marketwire) -- 09/30/10 -- PHIGroup, Inc., (OTCBB: PHIE) today announced that its subsidiary PHILand Ranch Ltd., a company engaged in the development of master-planned communities, residential and commercial properties, hospitality and healthcare services in Vietnam and Southeast Asia, (WKN A0RPEA) (FRANKFURT: 1P8) (XETRA: 1P8), has signed an agreement with Hanoi-based Huong Viet International Investment and Trade Joint Stock Company to co-develop the HH3 Project, part of the South An Khanh New City, about 10 kilometers (6.2 miles) from Central Hanoi, Vietnam.
The HH3 Project consists of 2.8 hectares (6.92 acres) along Lang Hoa Lac Highway in An Khanh Village, Hoai Duc District, Hanoi City, which has been approved for 40% mixed use construction, with seven 40-story building blocks to be built, 38 stories of which are allocated for residential purposes. PHILand Ranch will be responsible for engaging a renowned architectural firm to help design the project and jointly contributing capital towards the development and construction.
Total cost of the HH3 Project is estimated at $238.7 million while projected revenues range from $323.5 million to $582.2 million and net profits from $63.5 million to $257.7 million, based on a sale price of $1,000/square meter to $1,800/square meter. PHILand Ranch may own 50% to 70% of the project, based on actual resource contributions such as design work, capital contributed and project management.
According to Cushman Wakefield, the real estate market in Vietnam is showing signs of recovery in line with positive growth of the Vietnamese economy and Hanoi's increasing population and urbanization ratio, which is predicted to be 30% in 2010 and 50% in 2020. Good investment returns are anticipated in all residential segments especially in the premium and executive levels since demand for houses for people with an average income always remains high.
Henry Fahman, Chairman of PHILand Ranch, said, "We are delighted to partner with Huong Viet, a group of real estate experts who possess in-depth knowledge of the local market, marketing savvy and a extensive client network, to develop the HH3 Project to meet the growing demand of the housing market in Hanoi and its surrounding areas. This is the first of our joint development projects with selective local Vietnamese partners as part of our growth strategy."
About PHILand Ranch Ltd.
PHILand Ranch Limited, a United Kingdom corporation, is engaged in the development of master-planned communities, residential and commercial properties, hospitality and healthcare services in Vietnam and the growing economies of Southeast Asia. The company is currently developing the first phase of a multi-billion dollar project at Pointe91 in Bien Rang, Chu Lai, Quang Nam Province, Central Vietnam through its wholly owned Vietnam-based subsidiary PHILand Vietnam Ltd. PHILand Ranch's stock is traded on the Frankfurt Stock Exchange (FRANKFURT: 1P8), (WKN A0RPEA). Website: www.PHILandranch.com.
About PHIGroup, Inc.
PHIGroup (OTCBB: PHIE) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHIGroup is also engaged in mining activities through its majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com). Website: www.phiglobal.com.
Contact:
Daniel St. John
Director and Corporate Strategist
PHILand Ranch Ltd.
Tel: +1-714-843-5453
Email: daniel.stjohn@phiglobal.com
Source: Marketwire (September 30, 2010 - 2:30 AM EDT)
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