MOSS LAKE GOLD MINES LTD. ANNOUNCES ITS INTENTION TO RAISE UP TO $2.78 MILLION THROUGH A RIGHTS OFFERING
December 08 2010 - 8:00AM
PR Newswire (Canada)
TORONTO, Dec. 8 /CNW/ -- This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any state in which such
offer, solicitation or sale would be unlawful. The securities have
not been registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements. TORONTO, Dec. 8 /CNW/ - Moss Lake Gold Mines Ltd.
("Moss Lake") announces that the Board of Directors has approved,
in principal, the raising of up to approximately $2.78 million
(before expenses) by way of a rights offering (the "Offering"). It
is expected that all shareholders will be issued one right for each
common share of Moss Lake held (each a "MOK Share") and that each
five (5) rights will entitle the holder thereof to acquire one MOK
share at an exercise price of $0.30 per MOK Share. Additional
details of the Offering are expected to be described in a rights
offering circular to be mailed to shareholders. The Offering
requires the approval of the securities regulatory authorities and
the TSX Venture Exchange (the "TSXV"). Moss Lake Gold Mines Ltd.
trades on the TSXV under the symbol "MOK" and has 46.4 million
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. This news release
includes certain forward-looking statements concerning the future
performance of Moss Lake's business, operations and financial
performance and condition, as well as management's objectives,
strategies, beliefs and intentions. Such statements include, but
are not limited to, statements concerning the Offering..
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend" and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices,
competitive risks and the availability of financing, as described
in more detail in recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and Moss Lake
cautions against placing undue reliance thereon. Moss Lake and its
management assume no obligation to revise or update these forward
looking statements. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/08/c3353.html
pFor more information, please visit a
href="http://www.mosslakegold.com"www.mosslakegold.com/a or
contact:/p table valign="top" border="0"trtdGeorge Mannard,
P.Geo.br/ President/td td valign="top" align="center"orbr//td
tdShelly Johnbr/ Manager, Investor Relations/td/tr trtd /td td
valign="top" align="center"8 King St. East, Suite 1305br/ Toronto,
ON, M5C-1B5br/ Toll Free: 1-866-4-WDO-TSXbr/ Phone: 416-360-3743,
Fax: 416-360-7620br/ Email: a
href="mailto:info@mosslakegold.com"info@mosslakegold.com/a,
Website: a
href="http://www.mosslakegold.com"www.mosslakegold.com/a/td/tr/table
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