Manicouagan Minerals Reports Transfer of Shares and Acquisition of Warrants by Insider
June 24 2011 - 2:55PM
Marketwired
In accordance with regulatory requirements, Manicouagan Minerals
Inc. (TSX VENTURE: MAM) announces that The JVC Trust, a family
trust related to Mr. Donald K. Johnson, a director of the Company,
transferred beneficial ownership of all 1,751,393 common shares of
the Company owned by it on June 22, 2011 to Mr. Johnson personally.
The transaction was effected through the facilities of The TSX
Venture Exchange at a price of $0.12 per share. In addition, Mr.
Johnson acquired on June 22, 2011 on the OTC market 400,000
warrants of MAM, each exercisable for one common share, for $0.05
per warrant. The purpose of the transactions is family estate
planning. Following the transactions, Mr. Johnson beneficially owns
1,751,393 common shares and 400,000 warrants, representing in the
aggregate 11.8% of the outstanding common shares of the Company
assuming exercise of warrants. This press release is issued in
accordance with regulatory requirements.
About Manicouagan
Manicouagan Minerals Inc. is a Canadian based exploration
company focused on advancing its gold projects in the Pickle Lake
Gold Belt, Ontario. Manicouagan also has a pipeline of commodity
projects including the Brabant Lake Zinc deposit in Saskatchewan,
together with the Mouchalagane Nickel/Copper/PGE project and the
HPM/Forgues Nickel/Copper/Cobalt project, both in Quebec.
Additional information about the company can be found at
www.manicouaganminerals.com.
Une traduction francaise de ce communique de presse est
disponible a www.manicouaganminerals.com.
Forward Looking Statements
All statements other than statements of historical fact,
included in this release, including, without limitation, statements
regarding potential mineralization and reserves, exploration
results, and future plans and objectives of the Company, are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are exploration risks
detailed herein and from time to time in the filings made by the
Company with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Manicouagan Minerals Inc. Joseph Baylis President and
Chief Executive Officer (416) 542-3980 Manicouagan Minerals Inc.
Andreas Curkovic Investor Relations (416) 577-9927
investorrelations@manicouaganminerals.com