TORONTO, ONTARIO--(Marketwire
- March 11, 2009) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Apogee Minerals Limited ("Apogee" or "the Company")
(TSX VENTURE:APE) announces amended terms to its previously announced
non-brokered private placement financing (See Press Release dated
February 18, 2009) whereby the Company intends to issue up to
25,000,000 units (the "Units") at a price of $0.06 per Unit
for gross proceeds of up to $1,500,000. Each Unit shall be comprised of
one common share of the Company and one-half of one share purchase
warrant (each whole warrant a "Warrant"). Each Warrant shall
entitle the holder thereof to acquire one common share of the Company
at an exercise price of $0.10 for a period of two years following the
closing of the financing. 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.
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
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