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VMS Ventures Announces Financing and Option Grant
March 16, 2007
Vancouver, B.C. March 16, 2007. VMS Ventures Inc. (TSX.V: VMS)
(the "Company") is pleased to announce that it has arranged, on a non-brokered
basis, to raise up to $2,500,000 by the issuance of units at a price of $0.15
per unit (the “15c unit”) and flow through shares at $0.15 (the “15c shares”).
Each 15c unit will consist of one common share and one-half of one share
purchase warrant. Each whole warrant entitles the holder thereof to purchase one
common share of the Company at a price of $0.20 for a period of eighteen months
from closing.
Finders’ fees of up to 8% in cash or shares, or a combination of both, may be
paid in conjunction with this placement and in accordance with the policies of
the TSX Venture Exchange.
Proceeds from this financing will be used for exploration activities on the
Company’s VMS (copper-zinc) properties in the Flin Flon-Snow Lake VMS belt and
the Company’s Lynn Gabbros Nickel project and for general working capital
purposes. The financing is subject to acceptance by the TSX Venture Exchange.
In addition, the Company is pleased to announce that, in accordance with the
Company’s stock option plan, it has granted to certain of its directors,
officers and consultants incentive stock options to purchase up to an aggregate
of 950,000 common shares exercisable on or before March 15, 2012 at a price of
$0.17 per share.
VMS Ventures Inc. is acquiring, exploring and developing copper-zinc properties
in the Flin Flon-Snow Lake VMS Belt. The Company’s other projects include the
Lynn Lake Gabbros nickel-copper properties in the Lynn Lake Nickel Belt, the
South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite
Complex, Specialty Metals property. All properties are located in the mining
friendly province of Manitoba, Canada.
ON BEHALF OF THE BOARD:
Rick Mark
CEO & Chairman
The TSX Venture exchange does not accept responsibility for the adequacy or
accuracy of this release.
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