VANCOUVER, Feb. 14, 2019 /CNW/ - PRIZE MINING
CORPORATION ("Prize" or the "Company") (TSXV:PRZ)
(OTCQB:PRZFF) (MQSP:GR:FRANKFURT) announces that pursuant to the
Alberta Securities Commission order of February 12, 2019 with respect to Prize (the "ASC
Order"), the Company is providing additional disclosure with
respect to its previously issued news release on June 21, 2018 headlined "Prize Mining Announces
Amended Terms of Non-Brokers Private Placement and Major Lead
Orders" (the "June News Release") and the July 6, 2018 closing of such non-brokered private
placement (the "July Financing").
Prize hereby provides the following additional information with
respect to the June News Release and the July Financing:
- commitments by several investors to provide Prize with the
$6.5 million financing that closed in
the July Financing were conditional on Prize entering into 18
consulting agreements (the "Consulting Agreements") with various
parties;
- immediately upon receipt of the proceeds of the July Financing,
aggregate consideration of $5.5
million was to be paid by Prize to the parties to the
Consulting Agreements;
- some of the investors in the July Financing were directly or
indirectly parties to some of the Consulting Agreements; and
- a number of the Consulting Agreements purported to provide
Prize with the same or similar services.
The ASC Order provided that all trading in or purchasing of
securities of Prize must cease, and all of the exemptions contained
in the Alberta securities laws do
not apply to Prize, but that the ASC Order expires at 6:00 p.m. (MST) on the business day following the
dissemination of this news release.
About Prize Mining Corporation
Prize is a junior mining issuer listed on the TSX Venture
Exchange. Prize is focused on the exploration and development
of the Manto Negro Copper Property in Mexico and the Kena Gold Property in BC.
Find out more at: www.prizemining.com
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Reader Advisory
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 release.
This news release contains statements and information that,
to the extent that they are not historical fact, constitute
"forward-looking information" within the meaning of applicable
securities legislation. Forward-looking information is based on the
reasonable assumptions, estimates, analysis and opinions of
management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as
other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements
are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to differ materially
from any future results, performance or achievements expressed or
implied by the forward-looking information. Accordingly, readers
should not place undue reliance on any such forward-looking
information. Further, any forward-looking statement speaks only as
of the date on which such statement is made. New factors emerge
from time to time, and it is not possible for the Company's
management to predict all of such factors and to assess in advance
the impact of each such factor on the Company's business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. The Company does not undertake any
obligation to update any forward-looking information to reflect
information, events, results, circumstances or otherwise after the
date hereof or to reflect the occurrence of unanticipated events,
except as required by law including securities laws.
SOURCE Prize Mining Corporation