TORONTO, May 20, 2014 /CNW/ - Galway Metals Inc. (TSX-V:
GWM) (the "Company") has been notified that a shareholder of
the Company has submitted a request for a hearing and review by the
British Columbia Securities Commission (the "BCSC") of the decision
(the "Decision") of the TSX Venture Exchange to approve the
Company's private placement (the "Financing") of units ("Units")
that closed on April 16, 2014, as
announced by the Company in a press release on the same date. The
shareholder has requested that the BCSC issue an order (i) setting
aside the Decision and (ii) issuing a cease trade order in respect
of the Units (and underlying securities) issued in the Financing
until the Financing has effectively been unwound. All subscribers
to the private placement have been informed of the appeal. It is
the Company's understanding that the Exchange will make submissions
to the BCSC in defense of its decision to approve the
Financing.
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 of this news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
This news release contains forward-looking information which is
not comprised of historical facts. Forward-looking information
involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this
news release includes statements made herein with respect to, among
other things, the Company's objectives, goals or future plans,
potential corporate and/or property acquisitions, exploration
results, potential mineralization, exploration and mine development
plans, timing of the commencement of operations, and estimates of
market conditions. Factors that could cause actual results to
differ materially from such forward-looking information include,
but are not limited to, exploration results being less favourable
than anticipated, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political
risks, uncertainties relating to the availability and costs of
financing needed in the future, changes in equity markets,
inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, and other risks
involved in the mineral exploration and development industry, as
well as those risks set out in the Company's public disclosure
documents filed on SEDAR. Although the Company believes that
management's assumptions used to develop the forward-looking
information in this news release are reasonable, including that,
among other things, the Company will be able to identify and
execute on opportunities to acquire mineral properties, exploration
results will be consistent with management's expectations,
financing will be available to the Company on favourable terms when
required, and commodity prices and foreign exchange rates will
remain relatively stable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information contained herein, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
SOURCE Galway Metals Inc