Symbol: COC: TSX Venture Exchange Inc.
/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 23 /CNW/ - China Opportunity Inc. (the "Corporation") announces that it intends to complete a non-brokered private
placement of up to 21,000,000 common shares at a price of $0.60 per
share for gross proceeds of up to $12,600,000.
Proceeds from the offering will be used by the Corporation to pursue
exploration and development opportunities within the mining sector and
for working capital purposes. Completion of the offering is subject to
The Corporation will pay a finder's fee to registrants of up to 3.75% of
the gross proceeds of the offering. All securities issued under the
offering will be subject to a four-month statutory hold period.
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. The
securities have not been registered under the United States Securities
Act of 1933, as amended, or any state securities laws, and may not be
offered or sold within the United States, absent such registration or
an applicable exemption from such registration requirements.
About the Corporation
China Opportunity Inc. (TSXV:COC) is focused on pursuing exploration and
development opportunities within the mining sector. The Corporation
holds an option to earn up to a 50% interest (which may be increased to
70% in certain circumstances) in the McCart nickel exploration
property, located in northeastern Ontario.
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.
Caution Concerning Forward-Looking Information
This news release contains forward-looking statements that are based on
the Corporation's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Corporation's intent to
complete the offering, the timing thereof, the use of the proceeds
therefrom, and its plans with respect to pursuing acquisition
opportunities within the mining exploration sector. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events or
results implied or expressed in such forward-looking statements.
Factors that may cause actual results to vary materially include, but
are not limited to, the Corporation's financial resources and the
availability of financing alternatives, changes in general economic
conditions or conditions in the financial markets, the availability of
suitable exploration properties, the speculative nature of mineral
exploration, development and mining (including with respect to size,
grade and recoverability of mineral reserves and resources),
fluctuations in mineral prices and currency exchange rates and
unanticipated operational or technical difficulties. Such forward
looking information is based on a number of assumptions, including but
not limited to, the availability of financing, no significant decline
in existing general business and economic conditions, the level and
volatility of mineral prices and receipt of the approval of the TSX
Venture Exchange. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable
securities laws, the Corporation disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent
SOURCE CHINA OPPORTUNITY INC.
For further information: For further information:
China Opportunity Inc.
Phone: (514) 932-2797