TORONTO, Jan. 26, 2015 /CNW/ - Amato Exploration Ltd. (the "Company" or "Amato") (TSX-V:AMT) is pleased to announce that as a result of the current low valuation of precious metal reserves, Amato has initiated a strategy to aggressively identify and seize opportunities to acquire such reserves on a long term horizon, with the full support and backing of its major shareholder.
The company will not continue to exhaust past exploration approaches that have led to lackluster market interest and devaluation, but will instead inventory and strategically develop each prospective project with particular attention to acute project development timing, minimizing dilution to shareholders and executable exit strategies.
In a statement from Kieran Prashad, President and CEO of the Company, he says that "We are inherently optimistic and driven to be at the vanguard of discovery and scientific advancement in this industry, although too often we forget to ask before spending a dollar to fly a survey, drill a hole, or build a mine – who will buy it and why? For many of these projects and companies we can be their last attempt at creating value for their shareholders but not without keeping in mind our own end game."
On behalf of AMATO EXPLORATION LTD.
Kieran Prashad, President and CEO
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
This news release contains forward-looking statements which reflect management's current expectations regarding the Company's objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities. These forward-looking statements are not guarantees, but only predictions. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to vary significantly from current expectations. These factors and other risks and uncertainties are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time, as identified in the Company's disclosure record on www.sedar.com. The forward-looking statements included in this news release are made only as of the date of this news release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by law.
Neither the 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 news release.
SOURCE Amato Exploration Ltd.
For further information: Amato Exploration Ltd., Kieran Prashad, President and CEO, Tel: +1 647-478-9361