June 29, 2010 Silvore Fox Minerals Announces Warrant Exercise for Gross Proceeds of $1,125,000
Halifax, Nova Scotia -- Silvore Fox Minerals Corp. (TSXV: SFX) (the Corporation) is pleased to report, further to its Press Release dated March 30th, 2010, that 11,250,000 common shares of the Company were issued upon the exercise of outstanding warrants at a price of $0.10 per common share for gross proceeds of $1,125,000. This represents the conclusion of the first tranche of the total 22,500,000 warrants to be exercised early under the Warrant Exercise Agreement with Sino Minerals Corp. (Sino). The remaining 11,250,000 warrants are to be exercised on or before November 30th, 2010. The warrants were issued as part of the Company's non-brokered private placement with Sino on January 28th, 2010.
Dr. Jingbin Wang, Chairman of Sino Minerals Corp. states, "I am very pleased to see Silvore Fox's management and technical team have been strengthened in the past six months and that the Corporation has made steady progress in the exploration of the Coxheath property and new acquisition opportunities. Sino is a long term strategic partner of Silvore Fox and Sino will provide financial and technical support. I am looking forward to Silvore Fox making rapid developments in near future."
"We are very pleased to see these warrants exercised early," states Harry Cabrita, President and CEO . "The additional funds give the Corporation a stronger balance sheet and working capital position enabling the accelerated exploration of the Coxheath Deposit and the ability to implement strategic acquisitions consistent with our stated objectives."
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Harry Cabrita, President & CEO
The Howard Group Inc.
Dave Burwell/Grant Howard
Investor Relations
Toll Free: 1-888-221-0915
Phone: (403) 221-0915
Email: Info@howardgroupinc.com
www.howardgroupinc.com
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