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VMS ANNOUNCES $18,300,000 RELEASED FROM ESCROW
13 December, 2007
Vancouver, BC – December 13, 2007. VMS Ventures Inc. (TSX-Venture: VMS) (“VMS”
or the “Company”) Further to its news release of November 7, 2007, the Company
is pleased to announce that it received shareholder approval to increase its
authorized share capital to an unlimited number of common shares at its special
shareholders meeting held December 11, 2007 in Vancouver, B.C.
This approval has triggered the release from escrow the proceeds of the
previously announced private placement. After deducting the balance of the cash
commissions and expenses payable to the Agents in connection with the financing,
the Company has now received approximately $18,300,000. The monies will fund
ongoing exploration and development activities and general working capital.
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 & Chairman
For further information contact:
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Keith Patey,
Director of Communications
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118 |
Steve Kubota
Coal Harbor Communications
Telephone: (604) 662-3237
Toll Free: 1-866-405-3955 |
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release.
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