TORONTO, Sept. 4 /CNW/ - On August 28, 2009, Smith, Vincent & Co. Ltd.
("Smith") sold on the Toronto Stock Exchange 1,389,300 Common Shares it held
in Franconia Minerals Corporation (the "Issuer"), thereby decreasing its
current holdings in the Issuer by 2.35% to 1.69% (from 2,389,000 Common Shares
to 1,000,000 Common Shares held in the Issuer).
As a result of the sale, Smith and the other related holding companies,
individuals and trusts that are all related to the Vincent and/or Curry
families of Toronto (such entities being the Shareholders as listed and
defined above), who may be considered to act "jointly or in concert" for
purposes of Canadian securities legislation, now own an aggregate of 7,642,068
Common Shares of the Issuer, representing approximately 12.93% of the issued
and outstanding Common Shares, based on a total of 59,082,572 Common Shares
issued and outstanding.
The Common Shares sold had previously been acquired by Smith in the
ordinary course of business for investment purposes. The Shareholders have no
intention of making an offer generally to acquire the Issuer. The Shareholders
may acquire additional Common Shares or dispose of Common Shares from time to
This press release is being issued in accordance with the early warning
requirements of applicable Canadian securities laws.
For further information:
For further information: Kit Vincent, Suite 808, 1200 Bay St, Toronto,
Ontario, (416) 964-6411