MONTREAL, Feb. 6, 2012 /CNW Telbec/ - Toron Inc. (OTCBB:TRON)- (The Company) Toron Inc. is very pleased to announce that it has entered into an Agreement dated February 6, 2012 to acquire an additional 140 claims in the Tiblemont Gold Region of Quebec. The total consideration for the purchase will be $20,000 cash and the issuance of 5 million common shares of Toron Inc. The Claims add an additional framework to the lands that have already been accumulated by Toron. The claims are situated in the area of Tiblemont and are adjacent to the existing claims Toron already has acquired. The total land area of the claims is 19,563 acres and upon closing of this agreement will bring the total amount of lands owned or under contract to 53,547 acres.
Toron Inc. has been able to acquire and put under contract a substantial amount of acreage in the Val Dor mining district and in particular the Tiblemont Gold Region. Toron is very pleased to be apart of this very prospective area for gold exploration. The Company intends to undertake an extensive exploration program on these lands and will begin in the spring of this year.
Michael Whitehead President of Toron Inc. said, "We are very excited to expand our land position in the Tiblemont area and we look forward to a successful exploration program. This acquisition gives us momentum in the region and we will continue to examine the surrounding areas for opportunities."
Toron Inc. (www.toroninc.com) prides itself on being a new mineral exploration company focusing its attention on projects involving gold and other valuable metals. Based in Quebec, one of Canada's richest mining provinces, Toron Inc., a Nevada company incorporated a wholly owned subsidiary, Toron Resources Inc., for the sole purpose of exploring mining projects in Canada, and specifically, in Quebec and Ontario.
Safe Harbor Statement
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, but are not limited to, statements with respect to the closing of the various stages of the Acquisition Agreement for the 140 claims in the Tiblemont region as well as the start and potential results of exploration on such claims. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration development and production activities. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of its mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing Toron Inc. resources and ability to mine Toron Inc. resources, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the mining sectors, and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements.
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