RX Exploration Inc. Announces Closing its US $10 million Line of Credit Agreement with Hale Capital Partners
13 Noviembre 2011 - 2:29PM
PR Newswire (Canada)
TORONTO, Nov. 17, 2011 /CNW/ - RX Exploration Inc. (the "Company"
or "RXE") (OTCQX:RXEXF) announced today that its wholly-owned
subsidiary Drumlummon Ltd. has closed a credit facility agreement
(the "Credit Agreement") with an affiliate of Hale Capital
Partners, L.P. This announcement is made further to the
Company's press release issued on November 9, 2011 announcing the
singing of the Credit Agreement and describing its material terms.
About RX Exploration Inc. RXE is currently focused on re-starting
production and exploring its Drumlummon Mine, a past producing
high-grade, bonanza-type, epithermal underground gold and silver
mine in Montana. RXE is a gold and silver mining company
focused on growth in North America. The Company's shares are listed
on TSX-V and on the OTCQX . There are 167,540,196 common shares
issued and outstanding. Neither 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. About Hale Capital
Partners Based in New York City, Hale Capital Partners has
established itself as a leading private equity firm focused on
strategic investments in public companies and their subsidiaries.
Hale Capital Partners' team is comprised of seasoned private equity
veterans and entrepreneurs, who bring not only deep domain
expertise but also hands-on operating experience to help build
highly successful companies. Hale Capital Partners'
mining portfolio spans all stages of mine development from
exploration to commercial production. Cautionary Statement
Regarding Forward Looking Information This press release contains
"forward-looking information" within the meaning of applicable
securities laws. Forward-looking information includes, but is
not limited to, the Company's expectations, intentions, plans, and
beliefs with respect to, among other things, the Drumlummon
property. Often, but not always, forward-looking information can be
identified by forward-looking words such as "anticipate",
"believe", "expect", "goal", "plan", "intend", "estimate", "may",
and "will" or similar words suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions,
or statements about future events or performance. Forward-looking
information is based on the opinions and estimates of the Company
as of the date such information is provided and is subject to known
and unknown risks, uncertainties, and other factors that may cause
the actual results, level of activity, performance, or achievements
of the Company to be materially different from those expressed or
implied by such forward looking information. This includes the
ability to develop and operate the Drumlummon property, risks
associated with the mining industry such as economic factors
(including future commodity prices, currency fluctuations and
energy prices), failure of plant, equipment, processes and
transportation services to operate as anticipated, environmental
risks, government regulation, actual results of current exploration
activities, possible variations in ore grade or recovery rates,
permitting timelines, capital expenditures, reclamation activities,
social and political developments and other risks of the mining
industry. Although RXE has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated, or
intended. Readers are cautioned not to place undue reliance on such
information. By its nature, forward-looking information involves
numerous assumptions, inherent risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, and projections of various future events
will not occur. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking information
whether as a result of new information, future events or other such
factors which affect this information, except as required by law.
On Behalf of the Board Darren Blasutti President and CEO
416-848-9503 RX EXPLORATION INC. CONTACT: Darren BlasuttiPresident
and CEO416-848-9503
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