May 13, 2011
Miocene Metals Obtains Receipt for Final Prospectus
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Toronto, Ontario — May 13, 2011 — Miocene Metals Limited (the "Company") (TSXV:MII) announces that it has obtained a receipt for its final prospectus dated May 6, 2011 (the "Final Prospectus") filed with the Ontario, Alberta and British Columbia Securities Commissions. The Final Prospectus qualifies the distribution of up to 10,000,000 units ("Units") at a price of $0.36 per Unit and up to 9,000,000 of flow-through common shares ("Flow-Through Shares") at a price of $0.40 per Flow-Through Share (the "Offering"). Each Unit is comprised of one common share ("Common Share") and one half of one Common Share purchase warrant ("Warrant"). Each whole Warrant is exercisable into one Common Share at a price of $0.50 per Common Share for a period of 2 years from the closing date of the offering. Each Flow-Through Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada).
The Company has also obtained TSX Venture Exchange (the "TSXV") conditional approval to the listing of its Common Shares. The TSXV conditional approval is subject to the Company fulfilling all of the listing requirements of the TSXV on or before August 6, 2011.
Macquarie Private Wealth Inc. (the "Agent") is acting as agent on a commercially reasonable efforts basis for the Offering.
A copy of the Final Prospectus is available on Miocene’s corporate profile page which may be accessed at www.sedar.com or may be acquired directly from Macquarie Private Wealth Inc. at 4100 Yonge Street, Suite 500, North York, ON, M2P 2B5, Attention: Bijan Levine, Tel: (416) 512-3680, e-mail: firstname.lastname@example.org. Please direct all inquiries to Mr. Bijan Levine.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption there from. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
About Miocene Metals Limited
Miocene is focused on the exploration and development of seven porphyry copper-gold-molybdenum properties acquired from Wallbridge in south-western British Columbia within the Miocene-age Cascade Magmatic Arc. The Cascade Arc shares many geological characteristics with the Miocene-age porphyry belt that stretches the length of Chile and Argentina in South America and hosts some of the world’s largest porphyry copper-gold-molybdenum deposits including Chuquicamata, El Teniente and Los Bronces.
For Further Information
Please visit the Miocene’s website at www.miocenemetals.com, or contact:
Miocene Metals Limited
Linda Zubal, Investor Relations
Tel: (705) 682-9297 ext. 247
Ron Poirier, Investor Relations
Tel: (705) 682-9297 ext 263
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of the Company, including, without limitation, those listed under "Risk Factors" and " Forward-Looking Statements" in the Company’s Final Prospectus (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, information concerning the proposed initial public offering, its completion and receipt of necessary approvals, the Company’s objectives, the Company’s expectations and estimates regarding distributions to shareholders and the Company’s intended drilling program. The Company cautions investors about important factors that could cause actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that the expectations set out in the Company’s Final Prospectus or herein will prove to be correct and accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
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