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TORONTO, ONTARIO--(Marketwire
- Feb. 18, 2009) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Apogee Minerals Limited ("Apogee" or "the Company")
(TSX VENTURE:APE) is pleased to announce a
non-brokered private placement financing whereby the Company intends to
issue up to 25,000,000 common shares at a price of $0.06 per common
share for gross proceeds in the amount of $1,500,000. Apogee plans to
use the net proceeds to continue the development of its key projects
and for working capital purposes.
Closing of the financing is subject to receipt of TSX Venture approval.
The Company may pay finder's fees in connection with the financing.
For detailed project information please refer to Apogee's web site at www.apogeeminerals.com.
About Apogee Minerals Limited
Apogee Minerals Ltd. is a Canadian producer of silver-zinc-lead and
also carries out exploration and development activities. The Company is
listed on the TSX Venture Exchange under the symbol APE. Apogee is
focused on advanced silver-zinc-lead projects in South
America that demonstrate the potential to be rapidly
developed to production. Currently all of its projects are located in
the historic silver producing regions of central and southwest Bolivia.
The Company's 100%-owned La Solucion Mine
has a 14 year production history and has a 120 tonne per day flotation
mill. The Pulacayo-Paca project is an option
to joint venture with Apex Silver Mines Ltd. The project occupies the
property that includes the second-largest silver mine in the history of
Bolivia
with over 600 million ounces of past production.
Cautionary Note Regarding Forward-Looking Information This press
release contains "forward looking information" within the
meaning of applicable Canadian securities legislation. Forward looking
information includes, but is not limited to, statements with respect to
the future financial or operating performance of the Company, its
subsidiaries and its projects, statements regarding the terms of the
financing and projected use of proceeds, statements regarding
exploration prospects, and requirements for additional capital. Generally,
forward looking information can be identified by the use of
forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or
results "may", "could", "would",
"might" or "will be taken", "occur" or
"be achieved". Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the actual
results of current exploration activities; timing and availability of
external financing on acceptable terms; conclusions of economic
evaluations; changes in project parameters as plans continue to be
refined; future prices of mineral prices; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; and, delays in obtaining
governmental approvals or required financing or in the completion of
activities. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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