VMS Ventures Engages Huashan Capital to Provide Advisory Services in Asia
September 20 2011 - 1:30PM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS") is pleased to announce
that it has engaged the services of Huashan Capital of Shanghai,
China, and in connection therewith, has appointed the principals of
Huashan Capital, David Chen and Hock Ong, to its Advisory Board. In
connection with his appointment, Mr. Chen has been granted 200,000
options, exercisable at a price of $0.42 for a term of 5 years.
Under the term of the consulting agreement VMS has engaged
Huashan Capital to provide fiscal and corporate advisory and
consulting services to VMS on a non-exclusive basis in Asia for a
term of 18 months, subject to renewal and subject to a mutual right
of termination on 30 days' notice.
As consideration for the services under the Agreement, VMS has
agreed, subject to the acceptance of the TSX Venture Exchange, to
pay Huashan a success fee (the "Success Fee") in connection with
any transaction involving one or more of VMS's mineral properties
entered into with a third party introduced by Huashan Capital (a
"Transaction"). The Success Fee will consist of a cash payment
equal to 1% of the monetary value of a Transaction and such number
of warrants or shall have a total exercise price equal to 2.5% of
the monetary value of a Transaction, such warrants to have a term
of two years and an exercise price based upon the trading price of
VMS shares at the time of the Transaction.
Huashan Capital was established in 2009 as an advisory firm
focusing primarily on the mining industry, specializing in cross
border M&A, advisory and fundraising transactions for mining
companies globally. Since formation, Huashan Capital has achieved a
track record of successfully assisting Chinese companies to acquire
and invest in international mining projects and companies; and
global mining capitals to access capital and strategic investors
from China to develop their mining projects and development
capital.
Examples of notable transactions that Huashan Capital has
completed include: assisting Vale to identify a Chinese acquirer
for their Central Asia copper project; assisted an Australian gold
exploration company to exit its China gold mine project; and
assisting an African gold exploration company to complete its
fundraising for further exploration.
Rick Mark, VMS' CEO, states: "When we met David Chen in Hong
Kong last spring we were impressed with his understanding of the
mining industry in China and throughout Asia. VMS has an extensive
land package prospective for base metals that merits a major
exploration campaign and we are asking Huashan to be our ears and
eyes in Asia for possible partners who might see opportunities in
advanced exploration in Manitoba. We are very pleased they are now
a part of our team."
David Chen states: "We are very impressed with the VMS technical
team which has already established a record of discovery and we
believe the Flin Flon - Snow Lake belt is among the most
prospective areas in the world to hunt for Copper. Our objective is
to bring Chinese investors to these opportunities and realize their
full potential."
About VMS Ventures Inc.
VMS Ventures Inc. is focused primarily on acquiring, exploring
and developing copper-zinc-gold-silver massive sulphide deposits in
the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS
project property portfolio consists of the Reed Lake Project,
Copper Project, McClarty Lake Project, Sails Lake Project, Puella
Bay Project and Morton Lake Project. Outside of the Snow Lake camp,
the Company holds massive sulphide prospective properties near the
past producing Fox Lake and Ruttan copper-zinc mines, near the
communities of Lynn Lake and Leaf Rapids in northern Manitoba.
These properties are located in the mining friendly province of
Manitoba, Canada. The Company also has optioned three properties in
the Sudbury mining camp. They are Terra Incognita, Golden Pine and
Black Creek.
VMS Ventures owns approximately 45% of North American Nickel
Inc. (TSX VENTURE: NAN). For more information on North American
Nickel Inc., please visit www.northamericannickel.com.
Forward Looking Statement
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties.
Without limitation, statements regarding potential mineralization
and resources, exploration results, and future plans and objectives
of the Company are forward-looking statements that involve various
risks. The following are important factors that could cause the
Company's actual results to differ materially from those expressed
or implied by such forward-looking statements: changes in the world
wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.
There can be no assurance that forward-looking statements will
prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. VMS Ventures
Inc. undertakes no obligation to update such forward-looking
statements if circumstances or management's estimates or opinions
should change. The reader is cautioned not to place undue reliance
on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, President
VMS Ventures Inc.
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.
Contacts: VMS Ventures Inc. Keith Patey Director of
Communications (604) 986-2020 or Toll Free: 1-866-816-0118
www.vmsventures.com Launch IR Matt Harrington (613) 882-7467 Launch
IR Dean Hanisch (613) 882-7467
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