Post by Zoinkers on Jun 23, 2006 13:21:24 GMT -5
Press Release Source: Equitable Mining Corp.
Equitable Mining Operating Finances in Escrow Account
Tuesday June 20, 5:30 am ET
EQBM.PK
TORONTO, June 20 /PRNewswire-FirstCall/ - (EQBM.PK & E5W.F) - Equitable Mining Corp. has escrowed $250,000 Euros in project financing for its first mining and exploration projects.
"The recent European trip by senior management has resulted in the finalizing of financing," said Jim Adams, Director of Equitable Mining Corp. "The funds were transferred into escrow accounts in the last week."
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The company is also looking forward to the final legal documents for its interest in the Red Lake, Ontario gold property. These are anticipated to be completed in the near future.
At the same time the Dalian, China mine tailings project is now able to proceed and the final signing by DAK principal, Mijo Hui, is scheduled to take place by July 15, 2006.
During the recent negotiations in Europe, Equitable's management also made arrangements with bank lenders in Switzerland for the financing of equipment and supplies for the Dalian project.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions.
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Source: Equitable Mining Corp.
Equitable Mining Operating Finances in Escrow Account
Tuesday June 20, 5:30 am ET
EQBM.PK
TORONTO, June 20 /PRNewswire-FirstCall/ - (EQBM.PK & E5W.F) - Equitable Mining Corp. has escrowed $250,000 Euros in project financing for its first mining and exploration projects.
"The recent European trip by senior management has resulted in the finalizing of financing," said Jim Adams, Director of Equitable Mining Corp. "The funds were transferred into escrow accounts in the last week."
ADVERTISEMENT
The company is also looking forward to the final legal documents for its interest in the Red Lake, Ontario gold property. These are anticipated to be completed in the near future.
At the same time the Dalian, China mine tailings project is now able to proceed and the final signing by DAK principal, Mijo Hui, is scheduled to take place by July 15, 2006.
During the recent negotiations in Europe, Equitable's management also made arrangements with bank lenders in Switzerland for the financing of equipment and supplies for the Dalian project.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions.
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Source: Equitable Mining Corp.