VANCOUVER, June 4 /CNW/ - Further to the press release dated April 1,
2009, Copper Mesa Mining Corporation ("Copper Mesa" or the "Company")
(TSX:CUX) and Nortec Ventures Corp. ("Nortec") (TSX-V: NVT) have agreed to
extend the closing of Nortec's acquisition of a subsidiary of Copper Mesa (the
"Subsidiary") until June 30, 2009 to complete due diligence.
Under the extended agreement, Nortec will pay immediately to Copper Mesa
US$90,000 and an additional US$70,000 on June 16, 2009. The US$1,100,000
payment previously due May 31, 2009 will be postponed to June 30, 2009, and
the US$900,000 payment previously due June 30, 2009 will be postponed to July
31, 2009. Nortec has the right to satisfy the total payment of the purchase
price if it pays to Copper Mesa the total aggregate sum of US$5,000,000 less
applicable payments made; on or before July 31, 2009, which has been extended
from June 30, 2009. To date Nortec Ventures has paid to Copper Mesa US$600,000
as partial payment towards the purchase price.
The closing of this transaction remains subject to a number of
conditions, including completion of a due diligence review by Nortec,
acceptance for filing by the TSX Venture Exchange, Nortec arranging for
financing for the funds required to pay the purchase price, and receipt of any
further required regulatory approvals.
About Copper Mesa Mining Corporation
Copper Mesa is a mineral exploration and development company focused on
advancing into production its two key past-producing copper properties, the
Zonia and Emerald Isle Mines in Arizona, USA. www.coppermesacorp.com
This press release may contain forward-looking statements that are based
on Copper Mesa's expectations, estimates and projections regarding its
business and the economic environment in which it operates. These statements
are not guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. Therefore, actual outcomes and
results may differ materially from those expressed in these forward-looking
statements and readers should not place undue reliance on such statements.
Statements speak only as of the date on which they are made, and the Company
undertakes no obligation to update them publicly to reflect new information or
the occurrence of future events or circumstances, unless otherwise required to
do so by law.
For further information:
For further information: Rana S. Gill, Chief Financial Officer,
1-866-907-6047, email@example.com; or Joanna Longo, Investor Relations,