MONTREAL, May 9, 2012 /CNW Telbec/ - Toron Inc. (OTCBB: TRON) - (The Company) Toron Inc.'s management team is ecstatic that the Company has been able to assemble mining claims where the total property assets encompass 53,547 acres.
Management believes and expects the future development of these properties to be a worthwhile endeavor and the Company would like to update its shareholders on its various acquisitions. They are as follows:
- The Company's chain of acquisitions that began on September 30 of 2012, where the Company purchased a total of 62 claims that had 3 closings of September 30, November 15 and the final close on December 30, 2012. The 62 claims were made up of 8,164 acres.
- The Company entered into an additional contract for the purchase of an additional 193 claims also situated in the Tiblemont Gold area that was closed on February 29, 2012. The total area of land was 25,820 acres. This gave Toron a total of 33,984 acres in 255 claims.
- Torons final purchase to date was for 140 claims that were made up 19,563 acres .This transaction closed on April 16, 2012. With the closing of this purchase Toron Inc. now has a total of 395 claims that cover an area of 53,547 acres.
Michael Whitehead, president of Toron, stated, "the Company is very pleased to have been able to assemble a very large land package in the Tiblemont area in a relatively short period of time. We are very happy about our prospects and look forward to exploring the property."
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 exploration and commercialization of the company's 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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