TSX.V - LEO
VANCOUVER,
March 4 /PRNewswire/ - Lion Energy
Corp. (the "Company" or "Lion Energy") (TSXV:
LEO) wishes to announce that its treasury recently received the sum
of $1,700,000 from the private sale
of 8.5 million common shares of Northern Iron Corp. ("NIC"), a
private company registered in Ontario. No commissions or
finders' fees were payable in connection with the transaction.
The NIC shares were originally acquired by the
Company in March 20 2010, as
consideration for the assignment to NIC of all of the Company's
right, title and interest in and to the El Sol property located in
the Red Lake Mining District of Northern
Ontario. See the Company's February
25 and October 20, 2010 news
releases filed on SEDAR.
The Company's investment in iron ore-related
assets comes to an end following the disposition of the NIC
shares.
About the Company: Lion Energy Corp. is a
well-financed, Canadian oil and gas exploration company with
interests four petroleum blocks located in the Republic of
Kenya and in Puntland,
Somalia.
On behalf of the Board,
LION ENERGY CORP.
John R. Nelson
President and Chief Executive Officer
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 NEWS RELEASE
This release includes certain statements that
may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts, that
address exploration drilling, exploration activities and events or
developments that the Company expects to occur, are forward-looking
statements. Forward-looking statements in this news release
include statements regarding the Company's intentions or plans,
whether of a corporate or exploratory nature. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploration and exploration successes, and continued
availability of capital and financing and general economic,
political, market or business conditions. These statements are
based on a number of assumptions, including, among others,
assumptions regarding general business and economic conditions, the
timing and receipt of regulatory and governmental approvals for the
transactions described herein, the ability of the Company and other
parties to satisfy stock exchange and other regulatory requirements
in a timely manner, the availability of financing for the Company's
proposed transactions and programs on reasonable terms, and the
ability of third-party service providers to deliver services in a
timely manner. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
on the forward-looking statements. The Company does not
assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law or regulatory
policies.
SOURCE Lion Energy Corp.