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TORONTO, March 1, 2012 /CNW/ - MillenMin Ventures Inc. (TSX-V: MVM.P) ( " MillenMin " or the "Company") announces that it has terminated a proposed acquisition of certain mineral interest in the Suquash coal project from Electra Gold Ltd. (the "Proposed Transaction") that was previously announced in the Company's news release dated December 13, 2011. The Proposed Transaction was intended to constitute the Company's Qualifying Transaction, as such term is defined in the policies of the TSX Venture Exchange.
The Company will continue to actively identify and evaluate alternative opportunities for the purpose of completing its Qualifying Transaction.
Trading of MillenMin's common shares is expected to resume on March 5, 2012, subject to regulatory approval.
MillenMin is a capital pool company governed by the policies of the Exchange. The Company has not commenced operations and has no assets other than cash. The business objective of the Company is to identify and evaluate assets or businesses with a view to completing a Qualifying Transaction approved by the Exchange. Additional information about the Company is available to the public on SEDAR at www.sedar.com.
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.
This press release may include forward-looking information within the meaning of applicable securities laws including information concerning the business and future results of the Company that are not historic facts. Any such forward-looking statements are subject to risks and uncertainties, and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company cannot offer any assurances that a Qualifying Transaction will be completed. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. Additional information on these and other potential factors that could affect the Company's actual results, performance or achievements are detailed in disclosure documents filed from time to time with the applicable securities regulatory authorities.
For further information:
Yunkai (Kent) Cai, President, CFO and Secretary, Telephone: (416) 366-1888, [email protected].