Everfront Ventures Corp. announces TSXV conditional approval and filing of filing statement for its Qualifying Transaction

TORONTO, July 31, 2013 /CNW/ - Everfront Ventures Corp. ("Everfront") (TSXV: EVC.P) is pleased to announce that it has received conditional approval from the TSX Venture Exchange ("TSXV") for the closing of its Qualifying Transaction, as defined under TSXV Policy 2.4 - Capital Pool Companies (the "CPC Policy") and that further to its press release dated October 17, 2012, Everfront has filed its filing statement in connection with its Qualifying Transaction (the "Filing Statement").

As previously announced, Everfront's Qualifying Transaction involves the purchase by Everfront, pursuant to an amalgamation agreement dated October 12, 2012 (the "Amalgamation Agreement") with Canagco Mining Corp. ("Canagco"), of all of the outstanding common shares of Canagco by way of a three cornered amalgamation among Everfront, Canagco and a wholly owned subsidiary ("Subco") of Everfront to be incorporated under the laws of the Province of Ontario for the purposes of the Qualifying Transaction.

Assuming all conditions for closing are satisfied, Everfront expects to close the Qualifying Transaction on or about October 17, 2013. Upon completion of the proposed Qualifying Transaction, Everfront is expected to meet all of the minimum listing requirements for a Tier II mining issuer on the TSXV. The Filing Statement is available under Everfront's profile on SEDAR at www.sedar.com.

Following completion of the Qualifying Transaction, the business of Everfront will be to manage and operate the business of Canagco. Canagco is an exploration stage mining company and its current principal mineral project is the Langis Silver Project which consists of 35 patented contiguous mining claims located in Casey and Harris Townships in Ontario's famed Cobalt Silver Mining Camp, which has seen historical production of some 500,000,000 ounces of silver from numerous mines. The property is located approximately 500 kilometres north of Toronto.  The Langis Project includes the past-producing Langis and Dolphin-Miller silver-cobalt deposits.

Everfront Ventures Corp.

Everfront Ventures Corp. is a capital pool company listed on the TSXV. Everfront was established pursuant to the CPC Policy which permits an initial public offering and a TSXV listing by a newly created company that has no assets, other than cash, and has not commenced commercial operations. Prior to entering the Amalgamation Agreement, the principal business of Everfront has been the identification and evaluation of assets with a view to completing a Qualifying Transaction.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, final TSXV acceptance.  There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in Filing Statement filed in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon.  Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release.  Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking information within the meaning of Canadian securities laws.  Such information includes, without limitation, information regarding the completion of the Qualifying Transaction.  Although Everfront believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Everfront cautions investors that any forward-looking information provided by Everfront are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: Everfront's ability to complete the proposed Qualifying Transaction; the state of the financial markets for Everfront's equity securities; the state of the market for minerals that may be produced generally by Everfront in the event the Qualifying Transaction is completed; recent market volatility; Everfront's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Everfront is unaware of at this time. The reader is referred to Everfront's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through Everfront's page on SEDAR at www.sedar.com.

SOURCE: Everfront Ventures Corp.

For further information:

Joshua Gerstein at (416) 479-8623.

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