/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Feb. 7 /CNW/ - CMQ Resources Inc. ("CMQ") (TSXV:NV) today filed a preliminary long form prospectus with the
securities regulatory authorities in the provinces of Alberta, British
Columbia, Ontario and Québec in connection with its offering (the "Rights Offering") of rights (the "Rights") to purchase common shares of CMQ ("Common Shares"). The Rights Offering is expected to raise up to $5,000,000.
The closing of the Rights Offering is scheduled to occur on or about
March 18, 2011 and is subject to the satisfaction of customary closing
CMQ has applied to list the Rights and the Common Shares issuable on
exercise of the Rights on the TSX Venture Exchange (the "TSXV"). Listing will be subject to CMQ fulfilling the applicable listing
requirements of the TSXV.
A copy of the preliminary prospectus has been filed on SEDAR and will be
available for review at www.sedar.com.
CMQ has also filed on SEDAR a technical report (the "Technical Report") relating to CMQ's primary mineral project located in Eureka County,
Nevada (the "Red Canyon Project"), prepared in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Technical Report, entitled "Technical Report on the Red Canyon
Project", is dated February 1, 2011 and was authored by Edward G.
Bryant (principal author), Jeffrey A. Jaacks and John M. Hogg.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities to be offered have not
been, and will not be, registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state
securities laws and may not be offered or sold in the United States or
to United States persons absent registration or absent an applicable
exemption from the registration requirements of the U.S. Securities Act
and applicable U.S. state securities laws. There shall be no sale of
the securities in any jurisdiction in which an offer to sell, a
solicitation of an offer to buy or a sale would be unlawful. The preliminary prospectus has not yet become final for the purpose
of a distribution to the public and there shall not be any sale or any
acceptance of an offer to buy these securities in any province or
territory of Canada prior to the time a receipt for the final
prospectus or other authorization is obtained from the securities
commission or similar authority in such province or territory.
For more information on CMQ visit the CMQ website at (www.cmqresources.com) or please contact: Ryan Jennings, CMQ Resources Inc., telephone
number (403) 294-6496. In connection with the Rights Offering and the
release of the Technical Report, CMQ is planning to make changes to the
CMQ website so as to update information and provide links to public
documents including the Technical Report.
This press release contains certain forward-looking statements and
forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other
than statements of historical fact are forward-looking statements.
Forward-looking statements typically contain statements with words such
as "anticipate", "believe", "plan", "continuous", "estimate", "expect",
"intend", "may", "will", "shall", "project", "would", "should", or
similar words suggesting future outcomes.
Undue reliance should not be placed on forward-looking statements, which
are inherently uncertain, are based on estimates and assumptions, and
are subject to known and unknown risks and uncertainties (both general
and specific) that contribute to the possibility that the future events
or circumstances contemplated by the forward-looking statements will
not occur. There can be no assurance that the plans, intentions or
expectations upon which forward-looking statements are based will in
fact be realized. Actual results will differ, and the difference may be
material and adverse to CMQ and shareholders. Forward-looking
statements are based on management's current beliefs as well as
assumptions made by, and information currently available to,
management. Though management considers these assumptions to be
reasonable based on information currently available to it, they may
prove to be incorrect. By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and specific,
and risks that forward-looking statements will not be achieved. The
forward-looking statements contained in this press release are made as
of the date hereof and CMQ does not undertake any obligation to update
publicly or to revise any of the included forward-looking statements,
except as required by applicable law. The forward-looking statements
contained herein are expressly qualified by this cautionary statement.
SOURCE CMQ Resources Inc.
For further information:
on CMQ visit the CMQ website at (www.cmqresources.com) or please contact: Ryan Jennings, CMQ Resources Inc., telephone number (403) 294-6496