Palladon Ventures Ltd.-Stock to Resume Trading
September 01 2009 - 4:55PM
Marketwired
Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:
PLL)(FRANKFURT: PV-1) is pleased to issue the following press
release.
The Company previously announced on August 27, 2009, that the
British Columbia Securities Commission ("BCSC") has revoked the
Cease Trade Order as it applies to Palladon Ventures Ltd., which
allows trading in the securities of Palladon to resume.
The Company is pleased to announce that based on the revocation
of the cease trade order, the TSX Venture Exchange has reinstated
trading in Palladon's shares. Trading will resume in Palladon as of
the market open on Wednesday, September 2, 2009.
Palladon CEO John Cutler stated, "We are delighted to finish a
difficult chapter in the company's history by putting this firmly
behind us. Palladon will now devote 100% of its efforts to
advancing the Iron Mountain Project. The near term focus is to
raise a minimum of US$5 million by October 15th, thereby extending
the Luxor debt obligation until the end of 2010."
"We are confident that we have a significant deposit and an
attractive project. We will demonstrate this to current
shareholders and prospective investors over the next two quarters.
We look forward to the release of the NI 43-101 compliant
Preliminary Economic Assessment on Comstock/Mountain Lion and
stockpiles in late September, 2009. Working with SRK, Palladon then
plans to complete a Bankable Feasibility Study by late March,
2010."
On Behalf of the Board of Directors,
John W. Cutler, President & Chief Executive Officer
About Palladon
Palladon Ventures Ltd. is a junior resource company focused on
advancing the Comstock/Mountain Lion iron mine in Iron County,
Utah. Palladon also holds gold exploration projects in Nevada and
Utah.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company's: (1) belief that it has a significant deposit and an
attractive project; (2) expectation that it will file a NI 43-101
compliant Preliminary Economic Assessment on Comstock / Mountain
Lion and stockpiles in late September 2009; and (3) expectation
that it will complete a Bank Feasibility Study by late March 2010.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward-looking statements
reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause our
actual results to differ materially from those expressed or implied
by the forward-looking statements, including: (1) a downturn in
general economic conditions in North America and internationally,
(2) the inherent uncertainties and speculative nature associated
with mineral exploration and production, (3) a decreased demand for
minerals, (4) any number of events or causes which may delay or
cease exploration and development of the Company's property
interests, such as environmental liabilities, weather, mechanical
failures, safety concerns and labour problems; (5) the risk that
the Company does not execute its business plan, (6) inability to
retain key employees, (7) inability to finance operations and
growth, (8) other factors beyond the Company's control; and (9) the
risk that the Company will not be able to raise funds due to Luxor
Capital Group. These forward-looking statements are made as of the
date of this news release and, except as required by law, the
Company assumes no obligation to update these forward-looking
statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.
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.
Contacts: Palladon Ventures Ltd. John W. Cutler President &
CEO 801.521.5252 801.521.5454 (FAX) info@palladonventures.com
www.palladonventures.com