Numine Resources Ltd. Updates Status of QT
NUMINE RESOURCES LTD. NEWS RELEASE 1575 Kamloops Street TSX Venture Exchange Vancouver, BC V5K 3W1 Trading Symbol: NMR.P
Numine Resources Ltd. Updates Status of QT
October 26, 2010 - Vancouver, BC – Numine Resources Ltd. (“Numine” or the “Company”) explains that on October 25, 2010 the TSX Venture Exchange (the “Exchange”) issued a bulletin announcing that trading in the shares of Numine would be suspended due to the Company not completing a Qualifying Transaction (as that term is defined by the policies of the Exchange) within prescribed time limits.
As disclosed in prior press releases, the Company is working on completing a Qualifying Transaction with Sunset Cove Mining Inc. (“Sunset Cove”). Numine is currently working under an extension to Exchange imposed time limits and has until November 22, 2010 to complete a Qualifying Transaction and have a Final Exchange Bulletin in respect of that transaction issued.
“We look forward to completing our Qualifying Transaction with Sunset Cove in advance of our new deadline and are pressing ahead to ensure no further trading interruptions occur,” said Navin Varshney, President of Numine Resources Ltd. “We’ve been working with our advisors and the Exchange to complete a Qualifying Transaction with Sunset Cove for some time now, and once completed we anticipate having our stock trading on the Exchange shortly afterwards. We appreciate the patience of our shareholders and investors and look forward to a successful completion of this transaction”.
For further information, please contact:
Numine Resources Ltd. Sunset Cove Mining Inc.
Navin Varshney, Chief Executive Officer Lorne Woods, President Telephone: (604) 251-6320 Telephone: (416) 900-2884 Facsimile: (604) 251-6320 [email protected]
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved of the contents of this press release.
AC/1088077.1