TORONTO, June 9 /CNW/ - Further to press release dated February 26, 2009
Carlisle Goldfields Limited (Carlisle) wishes to announce the cancellation of
a proposed business transaction with Delta Uranium Inc. (Delta). The
transaction would have involved a vend-in of certain gold assets of a subco of
Delta for consideration of 4 million shares and a post consolidated roll back
of Carlisle shares on a 10:1 basis. As part of this transaction Delta's subco
was to conduct a private placement of a minimum of $5 million and a maximum of
$10 million of units @ $0.50 per unit.
After further review and due to overall market conditions management of
both companies have agreed that the transaction should not proceed.
Carlisle has decided that it will now proceed in a singular fashion to
raise capital with 100 % focus on its core asset at the MacLellan mine site in
Lynn Lake Manitoba. As a first step in this process Carlisle announced in a
press release dated June 5, 2009 that it had completed a private placement of
$165,000 of convertible debentures of the company.
A definitive plan is underway as the company puts together a syndicate of
new and key shareholders focused on the long term potential of Carlisle; the
goal being recapitalization and recommencement of activity at its flagship
MacLellan mine site and the provision of true value for its loyal
About Carlisle Goldfields Limited
Carlisle Goldfields Limited is a Canadian based Gold Exploration and
Development company focused on its 20,000 hectare land position in the Lynn
Lake Greenstone Belt of Manitoba where the company has defined reserves of
412,00 ounces of gold and is expecting to define additional resources in the
range of 400,000 to 800,000 ounces of gold.
This document may contain forward looking statements. A number of
important factors could cause actual outcomes and results to differ materially
from those expressed in forward-looking statements, including those set forth
in other public filings. In addition, such statements relate to the date on
which they are made. Consequently, undue reliance should not be placed on such
forward-looking statements. The company disclaims any intention or obligation
to update or revise forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by
applicable securities laws.
For further information:
For further information: Carl McGill, President and Chief Executive
Officer, Tel: (416) 278-8406, Fax: (416) 703-3695