From: Shaun Ledding <SLedding@zimtu.com>
Subject: News Release: Pasinex Resources Limited. (CNSX: PSE)
PLAIN TEXT:
To whom:
Please disseminate the following news release for Pasinex Resources Limited (CNSX: PSE)
If you have any questions, feel free to contact Shaun Ledding at (604) 681 1568.
Sincerely,
Shaun Ledding
File: 12-04-23 - Closing of Transactions Final.docx
Pasinex Resources Limited Announces New President; Closing of Transactions
April 23, 2012 - Pasinex Resources Limited (CNSX: PSE) (the "Company") is pleased to announce Steve Williams has be
--->en appointed President and Chief Executive Officer of the Company and Mr. Clinton Smyth has been appointed as VP Explora
--->tion of the Company. Concurrent with the new appointments, Mr. David Hodge has resigned as President and Chief Executiv
--->e Officer and will remain as directors of the Company. The new management changes have been made to facilitate the Comp
--->any's shift in business focus to mineral exploration in Turkey.
Steve Williams graduated with a Bachelor of Applied Science (Extractive Metallurgy) from the Western Australian School o
--->f Mines and an MBA from Tulane University. He has worked in the mining industry since 1976 in milling operations in Aust
--->ralia and Canada. He worked 20 years with SGS Lakefield Research in Canada and Chile in both metallurgical project manag
--->ement and business management, finally becoming Managing Director for SGS Canada, a company with about 1300 employees in
---> Canada.
Clinton Smyth, P. Geo, has a MSc. in Geochemistry (Cape Town) and an MSc. in Computer Science (London, UK). He has 35 ye
--->ars of experience in the minerals industry, working in Africa, Asia, Australia, Mexico and Canada. From 1975 to 2000, h
--->e worked for the Anglo American Corporation in mineral exploration, resource evaluation and mining. He served as VP Exp
--->loration in Australasia, and as VP Exploration in Africa. In 2000, Mr. Smyth moved to Canada and incorporated Georefe
--->rence Online Ltd, a minerals exploration consulting company, of which he is president. He is currently also president of
---> DV Resources Ltd, and has served in Canada as VP Exploration for Dome Ventures Corporation and Miocene Metals Ltd.
Closing of Acquisition and Other Business
The Company has completed the acquisition announced on January 16, 2012, of all information about, and infrastructure fo
--->r assessing geological projects in Turkey from 0886183 B.C. Ltd. (formerly Pasinex Resources Limited). In consideration
---> for the information, the Company paid $294,000.
In addition, the Company has decided that it will not proceed with the proposed spin out of its existing properties nor
--->will it proceed with the proposal to settle $70,000 owing from the Company by issuing common shares of the Company at a
--->deemed issue price of $0.10.
The Company also reports that its major shareholder, Zimtu Capital Corp. ("Zimtu") has closed the previously announced s
--->hare sale transactions pursuant to which Zimtu sold a total of 4,750,000 common shares of the Company in private transac
--->tions to a total of 3 individuals at a price of $0.04 per share. Subsequent to the closing of the share sale transactio
--->ns Zimtu agreed to an additional share sale transaction whereby Zimtu will sell an additional 457,000 common shares in a
---> private transaction to one individual at a price of $0.04 per share. Under the terms of all sales, the buyers have agr
--->eed to the escrow of their shares with timed release over three years.
On Behalf of the Board of Directors
PASINEX RESOURCES LIMITED
"Steve Williams"
Steve Williams
Director
Phone: 604.681.1568
Email: info@pasinex.com
The CNSX does not accept responsibility for the adequacy or accuracy of this news release.
Statements in this document which are not purely historical are forward-looking statements, including any statements reg
--->arding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release incl
--->ude statements regarding Zimtu Capital Corp.'s intention to sell an additional 457,000 common shares of the Company to o
--->ne individual at $0.04 per share. These statements are made based on agreements and current plans of management.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such
---> forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, government
--->al, environmental and technological factors that may affect the Company's operations, markets, products and prices.
.
File: 12-04-23 - Closing of Transactions Final.pdf
Pasinex Resources Limited Announces New President; Closing of
Transactions
April 23, 2012 - Pasinex Resources Limited (CNSX: PSE) (the "Company") is pleased to
announce Steve Williams has been appointed President and Chief Executive Officer of the
Company and Mr. Clinton Smyth has been appointed as VP Exploration of the Company.
Concurrent with the new appointments, Mr. David Hodge has resigned as President and Chief
Executive Officer and will remain as directors of the Company. The new management changes
have been made to facilitate the Company's shift in business focus to mineral exploration in
Turkey.
Steve Williams graduated with a Bachelor of Applied Science (Extractive Metallurgy) from the
Western Australian School of Mines and an MBA from Tulane University. He has worked in the
mining industry since 1976 in milling operations in Australia and Canada. He worked 20 years with
SGS Lakefield Research in Canada and Chile in both metallurgical project management and
business management, finally becoming Managing Director for SGS Canada, a company with
about 1300 employees in Canada.
Clinton Smyth, P. Geo, has a MSc. in Geochemistry (Cape Town) and an MSc. in Computer
Science (London, UK). He has 35 years of experience in the minerals industry, working in Africa,
Asia, Australia, Mexico and Canada. From 1975 to 2000, he worked for the Anglo American
Corporation in mineral exploration, resource evaluation and mining. He served as VP Exploration
in Australasia, and as VP Exploration in Africa. In 2000, Mr. Smyth moved to Canada and
incorporated Georeference Online Ltd, a minerals exploration consulting company, of which he is
president. He is currently also president of DV Resources Ltd, and has served in Canada as VP
Exploration for Dome Ventures Corporation and Miocene Metals Ltd.
Closing of Acquisition and Other Business
The Company has completed the acquisition announced on January 16, 2012, of all information
about, and infrastructure for assessing geological projects in Turkey from 0886183 B.C. Ltd.
(formerly Pasinex Resources Limited). In consideration for the information, the Company paid
$294,000.
In addition, the Company has decided that it will not proceed with the proposed spin out of its
existing properties nor will it proceed with the proposal to settle $70,000 owing from the Company
by issuing common shares of the Company at a deemed issue price of $0.10.
The Company also reports that its major shareholder, Zimtu Capital Corp. ("Zimtu") has closed the
previously announced share sale transactions pursuant to which Zimtu sold a total of 4,750,000
common shares of the Company in private transactions to a total of 3 individuals at a price of
$0.04 per share. Subsequent to the closing of the share sale transactions Zimtu agreed to an
additional share sale transaction whereby Zimtu will sell an additional 457,000 common shares in
a private transaction to one individual at a price of $0.04 per share. Under the terms of all sales,
the buyers have agreed to the escrow of their shares with timed release over three years.
On Behalf of the Board of Directors
PASINEX RESOURCES LIMITED
"Steve Williams"
Steve Williams
Director
Phone: 604.681.1568
Email: info@pasinex.com
The CNSX does not accept responsibility for the
adequacy or accuracy of this news release.
Statements in this document which are not purely historical are forward-looking statements, including any
statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking
statements in this release include statements regarding Zimtu Capital Corp.'s intention to sell an additional
457,000 common shares of the Company to one individual at $0.04 per share. These statements are made
based on agreements and current plans of management.
It is important to note that actual outcomes and the Company's actual results could differ materially from
those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic,
competitive, governmental, environmental and technological factors that may affect the Company's
operations, markets, products and prices.
.
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<p class="MsoNormal"><font size="2" face="Arial"><span style="font-size:10.0pt;
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<p class="MsoNormal"><font size="2" face="Arial"><span style="font-size:10.0pt;
font-family:Arial"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Arial"><span style="font-size:10.0pt;
font-family:Arial">Please disseminate the following news release for Pasinex Resources Limited (CNSX: PSE)<o:p></o:p></s
--->pan></font></p>
<p class="MsoNormal"><font size="2" face="Arial"><span style="font-size:10.0pt;
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<p class="MsoNormal"><font size="2" face="Arial"><span style="font-size:10.0pt;
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<st1:PersonName w:st="on">Shaun Ledding</st1:PersonName> at (604) 681 1568.<o:p></o:p></span></font></p>
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<p class="MsoNormal"><font size="2" face="Arial"><span style="font-size:10.0pt;
font-family:Arial">Sincerely,<o:p></o:p></span></font></p>
<p class="MsoNormal"><st1:PersonName w:st="on"><font size="2" face="Arial"><span style="font-size:10.0pt;font-family:Ari
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