TSX Venture Exchange
Trading Symbol: CFI
TORONTO, Feb. 14 /CNW/ - Canada Fluorspar Inc. (the "Company") is
pleased to announce it has filed and obtained a receipt for its final
long form prospectus qualifying for distribution 11,000,000 units of
the Company, each comprised of one common share (a "Common Share") in
the capital of the Company and one-half of one common share purchase
warrant (each whole common share purchase warrant, a "Warrant"). Each
Warrant will entitle the holder thereof to purchase one Common Share at
a price of $0.75 per Common Share at any time prior to June 16, 2012.
The Common Shares and Warrants are issuable upon the exercise or deemed
exercise of 11,000,000 common share special warrants (the "Common Share
Special Warrants") which were issued on December 16, 2010 in connection
with a previously announced private placement financing (the
"Offering") through a syndicate of investment dealers led by Dundee
Securities Ltd., and including GMP Securities L.P., Jennings Capital
Inc. and Paradigm Capital Inc. All unexercised Common Share Special
Warrants will be deemed to be exercised on Tuesday, February 22, 2011,
being the fifth business day after the receipt was issued for the final
prospectus, resulting in the issue of 11,000,000 Common Shares and
The net proceeds from the Offering will be used to develop the Company's
fluorspar deposits located in St. Lawrence, Newfoundland and for
general working capital purposes.
ABOUT CANADA FLUORSPAR INC.
The Company is a specialty mineral resource company engaged in the
development and production of fluorspar deposits at its property
located in St. Lawrence, Newfoundland, Canada, and is moving forward to
reactivate existing underground fluorspar mines, expand an existing
mill, construct a new, environmentally-sound Tailings Management
Facility and build a new deep-water marine terminal in the outer St.
Lawrence Harbor for the export of fluorspar concentrate product.
For more information please see: www.canadafluorspar.com
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States of
America. The securities have not been and will not be registered under
the United States Securities Act of 1933 (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the
United States or to U.S. Persons (as defined in the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable
state securities laws, or an exemption from such registration is
"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."
Advisory Regarding Forward Looking Statements
This press release contains forward-looking statements which include,
but are not limited to: current development and operating objectives
and outlook, expectations, opinions, forecasts, projections, guidance,
the timing for obtaining a receipt for its prospectus, or other
statements that are not statements of fact. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, it cannot give any assurance that such
expectations will prove to be correct. Results of the Company may be
affected by a variety of variables and risks associated with mining
development, such as loss of market, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates, environmental
risks, competition from other producers, ability to access sufficient
debt and equity capital from internal and external sources, ability to
generate sufficient cash flow to meet its current and future
obligations, regulatory approvals affecting construction and mining
operations; as a consequence, actual results could differ materially
from those anticipated or implied in the forward-looking statements.
The Company's forward-looking statements are expressly qualified in
their entirety by this cautionary statement and are made as of the date
of this news release. Unless otherwise required by applicable
securities laws, the Company does not intend nor does it undertake any
obligation to update or review any forward-looking statements to
reflect subsequent information, event, results or circumstances or
SOURCE Canada Fluorspar Inc.
For further information:
On behalf of Canada Fluorspar Inc.:
President and CEO
Canada Fluorspar Inc.
Spinnaker Capital Markets Inc.