/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Symbol: COC: TSX Venture Exchange Inc.
TORONTO, April 29 /CNW/ - China Opportunity Inc. (the "Corporation") today announced the closing of a non-brokered private placement
financing of 21 million common shares at $0.60 per share for gross
proceeds of $12.6 million.
PowerOne Capital Markets Limited acted as financial advisor to the
Corporation in connection with the private placement.
All common shares issued pursuant to the offering are subject to a four
month and one day hold period from the date of issue.
Proceeds from the offering will be used by the Corporation to pursue
exploration opportunities within the mining sector in West Africa and
for working capital purposes.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Caution Concerning Forward-Looking Information
This news release contains forward-looking statements that are based on
the Corporation's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Corporation's intent to
complete the offering, the timing thereof, the use of the proceeds
therefrom, and its plans with respect to pursuing acquisition
opportunities within the mining exploration sector. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events or
results implied or expressed in such forward-looking statements.
Factors that may cause actual results to vary materially include, but
are not limited to, the Corporation's financial resources and the
availability of financing alternatives, changes in general economic
conditions or conditions in the financial markets, the availability of
suitable exploration properties, the speculative nature of mineral
exploration, development and mining (including with respect to size,
grade and recoverability of mineral reserves and resources),
fluctuations in mineral prices and currency exchange rates and
unanticipated operational or technical difficulties. Such forward
looking information is based on a number of assumptions, including but
not limited to, the availability of financing, no significant decline
in existing general business and economic conditions, the level and
volatility of mineral prices and receipt of the approval of the TSX
Venture Exchange. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable
securities laws, the Corporation disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent
SOURCE China Opportunity Inc.
For further information:
China Opportunity Inc.
Phone: (514) 932-2797