Celtic Minerals Ltd. Announces Settlement and Mutual Release Agreements

CNSX-CWE

TORONTO, Nov. 8, 2011 /CNW/ - Celtic Minerals Ltd. ("Celtic" or the "Corporation") is pleased to announce that it will issue 273,000 common shares pursuant to settlement agreements with certain subscribers of flow-through shares.  As previously disclosed, it has been determined that the Corporation was unable to incur by December 31, 2009, qualifying expenditures for the benefit of subscribers of flow-through shares of the Corporation.  The Corporation had agreed to indemnify those subscribers in their subscription agreements.

Additional information regarding Celtic Minerals Ltd. is available on the company's website at www.celticminerals.com.

Forward Looking Statements:

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"). Although the forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Corporation cannot be certain that actual results will be consistent with these forward-looking statements. In particular, this release contains forward looking information relating to the completion of the issuance of the shares pursuant to the settlement agreements.  A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause the Corporation's actual results, event, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Corporation has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

SOURCE Celtic Minerals Ltd.

For further information:

Paul Cullingham, President and Chief Executive Officer 
Celtic Minerals Ltd.
Phone: (647) 341-9267
Fax: 1(888) 678-7396
Email:  pcullingham@celticminerals.com

Profil de l'entreprise

Celtic Minerals Ltd.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.