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Thursday, July 12, 2007 1:15:08 PM
Unreal! These guys Put out PR after PR about things being COMPLETED but then in the same PR have nothing but FWD looking statements about completing the COMPLETED ITEM! LOL!!!!!!!! How many times can they acquire a control position WITHOUT ever NAMING THE COMPANY? Good GRIEF!!!!!!! And I find it Hilarious they keep talking about Financing with NO DILUTION...while in the same paragraph talk about giving away MILLIONS OF SHARES! They can call it what they want to but the results have been the same.......a sinking PPS and thats what matters to shareholders...its another DILUTION/CASH COW/ Personal ATM MACHINE for Cortellazzi and the boys up north....they will be CREATING THE MANANGEMENT TEAM for MONTHS on END.......they will be CREATING the BUSINESS PLAN and CHANGING the BUSINESS PLAN over and over again........while never producing revenues and increasing the share structure behind the scenes as the PPS goes Lower and lower.........its what they do!
U Mining Resources Inc. Announces Closing of TSX Venture Corporation Acquisition
Management Provides Update on Corporate Development and Operational Plan
U Mining Resources Inc.
NEW YORK, NY--(Marketwire - July 12, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today announced that it has completed the acquisition of the TSX Venture Corporation.
After completing the due diligence analysis of the TSX Venture Corporation, management has deemed that it is in the best interests of U Mining to consummate the transaction as follows. The total consideration of the transaction represents an aggregate amount of $ 350,000 payable via the issuance of 25 million restricted shares of U Mining at a market value of $ 0.07. The shares are currently held in escrow until the transaction is officially approved by the TSX shareholders and regulating authorities, and are issued to the benefit of U Mining's control position; thereby consolidating the strength of the Company.
Secondly, the agreement stipulates that following the approval of the transaction U Mining will roll in one of its properties in return for additional shares, which would increase U Mining's control position. This allows U Mining's subsidiary to complete a first round of financing through a private placement of $ 1.5 million.
Management will prepare all the documentation and filings for a flow-through share prospectus for a second round of financing for a total of $ 2.5 million, and fulfill all the reporting requirements of the TSX Venture Exchange. Canadian investors will be able to purchase U Mining's subsidiary stock and claim a major tax deduction on their investment (see links below for further information). U Mining will also be able to consolidate the TSX Venture Corporation's financial statements with its own statements. This transaction will bring the total issued and outstanding shares of U Mining to 75 million.
***HEY KLON What happened to the NOT GOING OVER 50 Million? LOL! Ooops scratch that PLAN!!!!!!Its just the tip of the iceberg Klon..I bet the O/S already sits at 75 Million, Its going to get much larger! just watch and see.....
http://www.mrnf.gouv.qc.ca/english/publications/mines/fiscal/Accreditives-2004.pdf
http://www.mrnf.gouv.qc.ca/english/mines/fiscal/fiscal-support-flow.jsp
CEO Jean-Michel de Montigny indicated the following: "This is the best financing tool we could have chosen. We have to be realistic. After only 7 months of an intensive and efficient acquisition program of key high-grade Uranium properties, and development costs reattached to operations, we had to find an effective way of financing the prospecting activities without causing further stock dilution. The activities include: production of several NI-43-101 technical reports, drilling sessions and subsequently production. Secondly, I believe the Company is privileged due to the fact that all of the ongoing acquisition and development expenses including the cost of the TSX have been financed by the control interest group. The information on all past and current investments will be made available shortly to all shareholders in our financial statements.
"Finally, I would like to inform our shareholders that we are attentively monitoring the value of our stock while we accumulate resources and complete our management team. However, our main goal remains intact that involves focusing our efforts on building a profitable Company. The stock price, which we believe to be currently undervalued, should soon more accurately reflect the Company's true value based on the successful results of our hard work and patience."
For more information on U Mining Resources Inc., please visit the Company's corporate website at www.umining.com, and/or speak with one of the Investor Communications Representatives at U Mining's Investor Relations firm Equiti-trend Advisors. Reps are available on market days from 9:30 a.m. to 5:30 p.m. EDT by calling (800) 953-3350.
Forward-Looking Statements:
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Contact:
Investor Relations:
Equiti-trend Advisors
(800) 953-3350
http://www.umining.com
Take Note of the date of this next PR......they stated the DETAILS of the Transaction would be released in a WEEK.....its over a MONTH later and you have the ABOVE PR which is basically the same crap as below with the exception of everyone just found out that they are going to give away 25 MILLION SHARES!! In Every PR they say the DEAL iS COMPLETED? But NO NAME of the COMPANY.......No Name or quote from anyone anywhere..Hey Michel/AKA how is the SHARE BUY BACK COMING ALONG?
U Mining Resources Inc. Acquires Control Position of TSX Venture Corporation
Thursday June 7, 8:30 am ET
Acquisition Facilitates Financing of Exploration via Flow-Through Share Program
NEW YORK, June 7 /PRNewswire-FirstCall/ - U Mining Resources Inc. (Pink Sheets: UMNG - News), today announced that it has acquired the control position of a TSX Venture Corporation.
Management explained that pursuant to receiving the results of the NI-43-101 Reports, there is a very high probability that geologists will recommend a major drilling program to tripod and circumvent the key areas and to quantify the concentrations and values of the deposits.
The total cost of a major drilling program is estimated up to $2 to $3 million. U Mining's acquisition of the control position of the TSX Venture Corporation will allow it to raise exploration capital through the Canadian Corporation without stock dilution. Furthermore, this acquisition will increase investor and market awareness of U Mining by effectively capturing the attention and interest of a large group of potential shareholders who primarily invest in TSX Venture listed companies.
***That last sentence is what Cortellazzi and AKA are all about folks..CAPTURING the ATTENTION and Money of investors..its a chess game to them.......its about carefully worded PR's to gain interest so they can print and sell shares....and that is most likely all that will ever take place with this company...just like all other Cortellazzi/De-montigny companies..its what they do!
Management intends to prepare all the documentation and filings for a flow-through share prospectus, and fulfill all the reporting requirements of the TSX Venture Exchange. Canadian investors will be able to claim a tax deduction equal to 140% of their investment in the flow-through shares. There is no minimum investment requirement in order to take advantage of this tax benefit. U Mining will also be able to consolidate the TSX Venture Corporation's financial statements with its own statements. The Company will disclose the details of this transaction next week.
Management stated: "We firmly believes that this key strategic decision will be very beneficial to our corporation and shareholders."
Management also reiterated that all the results of the NI-43-101 reports will be published as soon as the geologists complete their analysis.
Forward-Looking Statements:
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
And Just for Fun here is the link to the share buy back PR.....gee one minute ya think the share structure is going to shrink and the PPS is going to rise......the next minute the PPS is still falling and the company is announcing giving away 25 Million shares and still wont tell you who they are giving it too......still wont tell you who the geologist is.......still have ZERO N.I.'s..............STILL HAVE NOT FILED a FORM 10! on and on and on..............
http://biz.yahoo.com/iw/070622/0269835.html
U Mining Resources Inc. Announces Closing of TSX Venture Corporation Acquisition
Management Provides Update on Corporate Development and Operational Plan
U Mining Resources Inc.
NEW YORK, NY--(Marketwire - July 12, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today announced that it has completed the acquisition of the TSX Venture Corporation.
After completing the due diligence analysis of the TSX Venture Corporation, management has deemed that it is in the best interests of U Mining to consummate the transaction as follows. The total consideration of the transaction represents an aggregate amount of $ 350,000 payable via the issuance of 25 million restricted shares of U Mining at a market value of $ 0.07. The shares are currently held in escrow until the transaction is officially approved by the TSX shareholders and regulating authorities, and are issued to the benefit of U Mining's control position; thereby consolidating the strength of the Company.
Secondly, the agreement stipulates that following the approval of the transaction U Mining will roll in one of its properties in return for additional shares, which would increase U Mining's control position. This allows U Mining's subsidiary to complete a first round of financing through a private placement of $ 1.5 million.
Management will prepare all the documentation and filings for a flow-through share prospectus for a second round of financing for a total of $ 2.5 million, and fulfill all the reporting requirements of the TSX Venture Exchange. Canadian investors will be able to purchase U Mining's subsidiary stock and claim a major tax deduction on their investment (see links below for further information). U Mining will also be able to consolidate the TSX Venture Corporation's financial statements with its own statements. This transaction will bring the total issued and outstanding shares of U Mining to 75 million.
***HEY KLON What happened to the NOT GOING OVER 50 Million? LOL! Ooops scratch that PLAN!!!!!!Its just the tip of the iceberg Klon..I bet the O/S already sits at 75 Million, Its going to get much larger! just watch and see.....
http://www.mrnf.gouv.qc.ca/english/publications/mines/fiscal/Accreditives-2004.pdf
http://www.mrnf.gouv.qc.ca/english/mines/fiscal/fiscal-support-flow.jsp
CEO Jean-Michel de Montigny indicated the following: "This is the best financing tool we could have chosen. We have to be realistic. After only 7 months of an intensive and efficient acquisition program of key high-grade Uranium properties, and development costs reattached to operations, we had to find an effective way of financing the prospecting activities without causing further stock dilution. The activities include: production of several NI-43-101 technical reports, drilling sessions and subsequently production. Secondly, I believe the Company is privileged due to the fact that all of the ongoing acquisition and development expenses including the cost of the TSX have been financed by the control interest group. The information on all past and current investments will be made available shortly to all shareholders in our financial statements.
"Finally, I would like to inform our shareholders that we are attentively monitoring the value of our stock while we accumulate resources and complete our management team. However, our main goal remains intact that involves focusing our efforts on building a profitable Company. The stock price, which we believe to be currently undervalued, should soon more accurately reflect the Company's true value based on the successful results of our hard work and patience."
For more information on U Mining Resources Inc., please visit the Company's corporate website at www.umining.com, and/or speak with one of the Investor Communications Representatives at U Mining's Investor Relations firm Equiti-trend Advisors. Reps are available on market days from 9:30 a.m. to 5:30 p.m. EDT by calling (800) 953-3350.
Forward-Looking Statements:
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Contact:
Investor Relations:
Equiti-trend Advisors
(800) 953-3350
http://www.umining.com
Take Note of the date of this next PR......they stated the DETAILS of the Transaction would be released in a WEEK.....its over a MONTH later and you have the ABOVE PR which is basically the same crap as below with the exception of everyone just found out that they are going to give away 25 MILLION SHARES!! In Every PR they say the DEAL iS COMPLETED? But NO NAME of the COMPANY.......No Name or quote from anyone anywhere..Hey Michel/AKA how is the SHARE BUY BACK COMING ALONG?
U Mining Resources Inc. Acquires Control Position of TSX Venture Corporation
Thursday June 7, 8:30 am ET
Acquisition Facilitates Financing of Exploration via Flow-Through Share Program
NEW YORK, June 7 /PRNewswire-FirstCall/ - U Mining Resources Inc. (Pink Sheets: UMNG - News), today announced that it has acquired the control position of a TSX Venture Corporation.
Management explained that pursuant to receiving the results of the NI-43-101 Reports, there is a very high probability that geologists will recommend a major drilling program to tripod and circumvent the key areas and to quantify the concentrations and values of the deposits.
The total cost of a major drilling program is estimated up to $2 to $3 million. U Mining's acquisition of the control position of the TSX Venture Corporation will allow it to raise exploration capital through the Canadian Corporation without stock dilution. Furthermore, this acquisition will increase investor and market awareness of U Mining by effectively capturing the attention and interest of a large group of potential shareholders who primarily invest in TSX Venture listed companies.
***That last sentence is what Cortellazzi and AKA are all about folks..CAPTURING the ATTENTION and Money of investors..its a chess game to them.......its about carefully worded PR's to gain interest so they can print and sell shares....and that is most likely all that will ever take place with this company...just like all other Cortellazzi/De-montigny companies..its what they do!
Management intends to prepare all the documentation and filings for a flow-through share prospectus, and fulfill all the reporting requirements of the TSX Venture Exchange. Canadian investors will be able to claim a tax deduction equal to 140% of their investment in the flow-through shares. There is no minimum investment requirement in order to take advantage of this tax benefit. U Mining will also be able to consolidate the TSX Venture Corporation's financial statements with its own statements. The Company will disclose the details of this transaction next week.
Management stated: "We firmly believes that this key strategic decision will be very beneficial to our corporation and shareholders."
Management also reiterated that all the results of the NI-43-101 reports will be published as soon as the geologists complete their analysis.
Forward-Looking Statements:
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
And Just for Fun here is the link to the share buy back PR.....gee one minute ya think the share structure is going to shrink and the PPS is going to rise......the next minute the PPS is still falling and the company is announcing giving away 25 Million shares and still wont tell you who they are giving it too......still wont tell you who the geologist is.......still have ZERO N.I.'s..............STILL HAVE NOT FILED a FORM 10! on and on and on..............
http://biz.yahoo.com/iw/070622/0269835.html
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