US Canadian Minerals, Inc. Announces Cancellation of 37% of Issue
and Outstanding Shares and Obtains Option on Mining
LAS VEGAS, NV -- (MARKET WIRE) -- 02/06/07 -- US Canadian Minerals, Inc. (PINKS
EETS: USCA)
announced today the cancellation of 39,626,500 shares of stock. Certain
shareholders agreed to the cancellation of the shares as being in the best
interests of the Company.
This represents the cancellation of approximately 37% of the issued and
outstanding common shares of the Company.
Also, the Company announces today that the Company has obtained an option
on 1,200 hectares of mining claims in the 10th region of Chile. The claims
cover some 5 kilometers of paleo channel graded at above 2 grams gold per
cubic meter from various studies done from 1970 to 2002.
US Canadian is currently seeking funding to initiate production in the
1,500 to 4,000 cubic meters per day range.
US Canadian Minerals also wishes to announce the appointment of Mr. Adam
Jenn as Chief Executive Officer. Mr. Jenn also holds the position of
President and Director
Statements contained in this release that are not purely historical are
forward-looking statements within the meaning of the Safe Harbor clause of
the Private Securities Litigation Reform Act of 1995. These statements are
based on information available to the Company as of the date of this news
release, and the Company assumes no obligation to update or revise these
forward-looking statements. Forward-looking statements are inherently
uncertain, and the Company's actual results may differ from management's
expectations. Risks and uncertainties associated with forward-looking
statements include without limitation, US and foreign currency
fluctuations, changes in environmental and mining regulations, delays in
obtaining regulatory approvals, costs associated with processing ore
concentrates, fluctuation in precious metals markets, general economic and
business conditions, litigation and other factors. All subsequent
forward-looking statements attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these cautionary
statements. Financial estimates, whenever provided, either by the Company
or by third parties, are subject to change and are not intended to be
relied upon as predictions of future operating results. US Canadian
Minerals, Inc. assumes no obligation to update or disclose revisions to
such estimates.
However the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 do not apply to the Company.
Contact:
US Canadian Minerals, Inc.
Tormi Jõgeda, Investor Support Services
702.357.USCA (8722)
www.uscanadianminerals.com
*** end of story ***
AI
Market Data 
Markets 
