MONTREAL, Feb. 15, 2012 /CNW Telbec/ - Toron Inc. (OTCBB:TRON) - (The Company) Toron Inc. is pleased to provide a Corporate Update on the various activities that the Company has undertaken to date. The Company has become very concerned about the variety of negative spam emails that have been sent out recently and the false statements that have been issued as a result. Toron Inc. is in no way a part of these spam emails in any manner. Toron is committed to building the company through a series of acquisitions of gold mining properties and then proving up these claims using extensive exploration and development programs.
Toron is very encouraged at the progress we have made in a relatively short period of time. The Company has been able to acquire 62 mining claims with a total area of 8,164 acres in the Tiblemont region of Quebec, which are fully paid for and 100% owned by the Company. Currently, the 62 mining claims first acquired are in the transfer process with the Resource Department of Quebec. The Company has also put under contract an additional 295 mining claims in the same area of the Tiblemont region as the previous claims. These 295 claims combined with the 62 claims will give Toron a total land package of 53,547 acres. This large land position, once closed, will give Toron the thrust it needs to carry out extensive exploration on its properties. The Company can close the agreements for these claims for total consideration of $60,000 and 13,500,000 shares of the Company's common stock.
Toron has come quite far since August of last year, when it decided to change its focus and become a fully operational mining exploration Company with large land assets located in the Val-d'Or mining district of Quebec. The Company now has 2 directors and officers and is in the process of adding more personnel as it grows. Toron is in the development stage of a wide ranging exploration program and is hopeful of proving up these assets. The Company is very pleased with its growth in a relatively short time horizon and is excited about its future prospects.
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 closing on the 295 claims under contract, beginning exploration work, adding more personnel and proving up its current and future land assets. 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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