VMS Ventures Proposes to Spin Off Nickel Assets
June 12 2008 - 6:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("VMS" or the "Company") - In order
to maximize shareholder value, the board of directors has decided
to pursue a spin off of the Company's nickel assets. As proposed,
the relevant properties would be transferred to a new company which
would carry out an IPO and seek to list separately on the TSX
Venture Exchange, with VMS as the largest shareholder of the new
company.
The spin off is being proposed as it is felt that the Company's
nickel assets are currently undervalued within the present
structure and that having those assets in a separate well
capitalized, well managed vehicle is a better way in which to
develop the properties and realize a proper valuation of the assets
for the benefit of VMS and its shareholders.
The Company is currently in discussions with various brokerage
firms to act as the Company's agent in conducting the IPO and will
provide further disclosure once the terms of the spin off are
settled upon.
About VMS Ventures Inc.
VMS Ventures Inc. is focused primarily on acquiring, exploring
and developing copper-zinc properties in the Flin Flon-Snow Lake
VMS Belt. The Company also holds the largest land package
considered prospective for nickel-copper mineralization at Lynn
Lake, which is to date Canada's third largest nickel producing
camp. The Company's project portfolio consists of the Snow Lake VMS
project, the Lynn Lake Gabbros nickel-copper project, the Nickel
Belt project, the South Bay nickel-copper-cobalt PGE property, and
the Eden Lake Carbonatite Complex, Specialty Metals property. All
VMS Ventures Inc. properties are located in the mining friendly
province of Manitoba, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark, CEO and Chair
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: VMS Ventures Inc. Keith Patey Director of
Communications (604) 986-2020 or Toll Free: 1-866-816-0118 (604)
986-2021 (FAX) Website: www.vmsventures.com Coal Harbor
Communications Dale Paruk (604) 662-4505 or Toll Free:
1-877-642-6200
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