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July 23, 2013
Trading Symbol: TSXV: ALM
Alliance Mining Corp. has appointed Global Resources fund manager Tamas Bakacs to Advisor Board
$150,000 Financing Announced
Alliance Mining Corp, is pleased to announce Mr. Tamas Bakacs has joined the advisory board. Mr. Bakacs is the Managing Director and Portfolio Manager of the Realszisztema Marco Polo Global Equity Fund, a junior mining focused precious metals equity fund in Budapest, Hungary.
Mr. Bakacs is a well experienced global resource fund manager who started his career in Mergers & Acquisitions at Arthur Andersen LLP. Following the completion of his MBA studies in 2004, Bakacs joined Baillie Gifford & Co. in Edinburgh, UK, as a security analyst. In 2007 Bakacs became the global equities analyst for the firm`s flagship Long Term Global Growth portfolio (FUM: $14bn) covering mainly mid to large cap equities in various markets and indexes. In 2008 Bakacs was promoted to Investment Manager. Subsequently, he was also chosen to be the head of the firm�s specialist Oil and Gas Sector Group (FUM: $15bn). Most recently, Bakacs was an investment manager and senior analyst at Compass Asset Management JSC in Almaty, Kazakhstan (FUM: $250mn), a frontier emerging markets based hedge fund, focusing on commodity linked equity investments. At Compass he helped co-manage the firm�s funds that aimed to invest in public and private companies operating in Kazakhstan and other Central Asian republics. In 2010, Mr. Bakacs joined Realszisztema Investment Fund Manager Ltd., a Budapest, Hungary based specialist investment management firm, to launch a dedicated commodity based equity fund with a strong focus on the precious metals sector. The Marco Polo Global Equity Fund invests across the whole range of mining companies, both in the exploration and production stage. The fund is seeking to achieve superior returns through early stage investments in promising junior mining companies like Alliance Mining Corporation. Mr. Bakacs is a graduate of St. Francis College (B.S., Accounting, 1999) and University of California, Los Angeles (M.B.A., 2004).
Alliance Mining welcomes Mr. Bakacs to the Advisory Board and considers his experience and investment industry connections in Europe as well as Central Asia a significant asset for the company to add market savvy and become more attractive to institutional precious metals as well as generalist equity investors. The company is grateful to have Mr. Bakacs� support and looks forward to utilizing his extensive industry knowledge, as well as his institutional investment experience and strong professional contacts.
The Company also announces non-brokered private placement of up to 3,000,000 units at a price of $0.05 per unit in the capital stock for total gross proceeds of up to $150,000. Each unit will consist of one common share and one half share purchase warrant. Each full share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.10 per share for a period of twenty-four months from the closing date of the private placement. Closing of this placement is conditional upon approval of the TSX Venture Exchange. The term of the Warrants may be accelerated in the event that the Issuer's shares trade at or above a price of $0.15 per share for a period of 10 consecutive trading days. In such case, the Issuer may give notice, in writing and by way of news release, to the Subscribers that the Warrants will expire 20 days from the date of providing such notice.
Disclaimer:
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein is �forward-looking information� within the meaning of the Ontario Securities Act. This includes statements concerning the Company�s plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company�s expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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