TORONTO, Oct. 9, 2012 /CNW/ - This press release is issued by Bowen Minerals, LLC ("Bowen Minerals"), pursuant to the early warning requirements of National Instrument 62-103 with respect to common shares ("Common Shares") of Virginia Energy Resources Inc. (the "Corporation"), a reporting issuer in certain jurisdictions in Canada. In accordance with such early warning requirements, Bowen Minerals is required to report certain information in respect of its holdings of securities of the Corporation. On September 27, 2012, further to a plan of arrangement between Virginia Energy Resources Inc., VA Uranium Holdings, Inc., Virginia Uranium Ltd. and 0942845 B.C. Ltd. (the "Arrangement"), Bowen Minerals acquired ownership of 3,732,982 Common Shares or approximately 11.3% of the outstanding Common Shares, without giving effect to the exercise or conversion of any other convertible securities of the Corporation.
A press release announcing the closing of the Arrangement was issued by the Corporation on September 27, 2012.
The Common Shares were acquired as a result of the Arrangement. Bowen Minerals will evaluate its investment in the Corporation from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in the Corporation as circumstances require. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to the Corporation's profile on the SEDAR website www.sedar.com or contact Bob Vaughn at 434-792-5005.
Note: Disclosure regarding the percentage of outstanding Common Shares held by Bowen Minerals and the Corporation's outstanding share capital is based on information provided by the Corporation.
Note on Forward-Looking Information
This press release includes certain forward-looking information, including statements relating to Bowen Minerals' interests in the Corporation and its future intentions in respect thereof, using words including "anticipate ", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. This forward-looking information reflects current views with respect to current and future events and circumstances and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions, including those relating to changes in business, performance and markets. Actual results may differ materially from information contained in the forward-looking information as a result of a number of those factors. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Bowen Minerals undertakes no obligation to publicly update or revise any forward-looking information contained in this press release, except as required by applicable laws.
SOURCE: Bowen Minerals, LLC
For further information:
Bowen Minerals, LLC
772 Main Street,
Danville, VA, 24541
Attention: Bob Vaughan