WHETSTONE MINERALS ANNOUNCES SHAREHOLDER APPROVAL OF ACQUISITION AND FINANCING
01 Diciembre 2010 - 11:30AM
PR Newswire (Canada)
CALGARY, Dec. 1 /CNW/ -- CALGARY, Dec. 1 /CNW/ - (TSX Venture: WMI)
December 1, 2010 - Whetstone Minerals Ltd. ("Whetstone") is pleased
to announce that, further to its press release dated November 2 ,
2010, Whetstone has obtained the requisite approvals of its
shareholders at its annual and special meeting of shareholders held
earlier today of the previously announced acquisition (the
"Acquisition") of the outstanding share of DGL Investments Number
Four Mauritius from Duration Gold Limited in consideration for the
issuance of 45,000,000 common shares of Whetstone to Duration and
the private placement financing of 50,000,000 common shares of
Whetstone at an issue price of U.S.$0.10 per share (the "Private
Placement"). Whetstone anticipates that, subject to the
receipt of all necessary regulatory approvals (including TSXV
approval), it will complete the Acquisition and Private Placement
on or about December 16, 2010. Forward-Looking Statements In the
interest of providing Whetstone shareholders and potential
investors with information regarding Whetstone including
management's assessment of the future plans and operations of
Whetstone, certain statements contained in this press release
constitute forward-looking statements or information (collectively
"forward-looking statements") within the meaning of applicable
securities legislation. In particular, this press release contains,
without limitation, forward-looking statements pertaining to the
following: the anticipated timing of the completion of the
Acquisition and the Private Placement. With respect to
forward-looking statements contained in this press release,
Whetstone has made assumptions regarding, among other things: its
ability to obtain the necessary regulatory approvals to complete
the Acquisition and the Private Placement and its ability to raise
the necessary funds to complete the Private Placement. Although
Whetstone believes that the expectations reflected in the forward
looking statements contained in this press release, and the
assumptions on which such forward-looking statements are made, are
reasonable, there can be no assurance that such expectations will
prove to be correct. Readers are cautioned not to place undue
reliance on forward-looking statements included in this press
release, as there can be no assurance that the plans, intentions or
expectations upon which the forward-looking statements are based
will occur. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur,
which may cause Whetstone's actual performance and financial
results in future periods to differ materially from any estimates
or projections of future performance or results expressed or
implied by such forward-looking statements. These risks and
uncertainties include, among other things, the following: the
failure of Whetstone to obtain the necessary regulatory approvals
to complete the Acquisition and the Private Placement; the failure
of Whetstone to raise the necessary funds to complete the Private
Placement; and general economic conditions in Canada, Zimbabwe and
abroad. Readers are cautioned that this list of risk factors should
not be construed as exhaustive. These risk factors are
discussed in Whetstone's information circular - proxy statement
dated November 2, 2010, as filed with Canadian securities
regulatory authorities. The forward-looking statements contained in
this press release speak only as of the date of this press release.
Except as expressly required by applicable securities laws,
Whetstone does not undertake any obligation to publicly update or
revise any forward looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement. 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. pFor further information
please contact the Corporation or Charles Vivian of Pelham Bell
Pottinger:/p p/p tabletr valign="top"td align="left"Whetstone
Minerals Ltd. br/ Allan Dolan,
Chairman and Interim President and Chief Executive Officerbr/
Phone: +44 (77) 9697 3008/td td align="right" /td td
align="left"Pelham Bell Pottingerbr/ Charles Vivianbr/ Phone:
+44 207 861 3126/td/tr/table piTo be added to Whetstone's private
email list, please contact/iia
href="mailto:info@whetstoneminerals.com"info@whetstoneminerals.com/a/ii./i /p
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