VMS VENTURES PROPOSES TO SPIN OFF NICKEL ASSETS
Vancouver, BC
- June 12, 2008. VMS Ventures Inc. (TSX-Venture:
VMS) ("VMS" or the "Company") In order to maximize
shareholder value, the board of directors have decided to pursue a spin off
of the Company's nickel assets.
As proposed, the relevant properties would be transferred to a new
company which would carry out an IPO and seek to list separately on the TSX
Venture Exchange, with VMS as the largest shareholder of the new company.
The spin off is being proposed as it is felt
that the Company's nickel assets are currently undervalued within the
present structure and that having those assets in a separate well
capitalized, well managed vehicle is a better way in which to develop the
properties and realize a proper valuation of the assets for the benefit of
VMS and its shareholders.
The Company is currently in discussions with
various brokerage firms to act as the Company's agent in conducting the IPO
and will provide further disclosure once the terms of the spin off are
settled upon.
About VMS Ventures Inc.
VMS Ventures Inc. is focused primarily on
acquiring, exploring and developing copper-zinc properties in the Flin
Flon-Snow Lake VMS Belt. The Company also holds the largest land package
considered prospective for nickel-copper mineralization at Lynn
Lake, which is to date Canada's
third largest nickel producing camp. The Company's project portfolio
consists of the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper
project, the Nickel Belt project, the South
Bay nickel-copper-cobalt
PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals
property. All VMS Ventures Inc. properties are located in the mining
friendly province of Manitoba,
Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
CEO and Chair
For further information,
Phone (604) 986-2020 or Toll Free 866 816 0118
or visit our website www.vmsventures.com