VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Druk Capital Partners Inc. ("Druk" or the "Company") (TSX VENTURE:DRU.P), a capital pool company, announces that, further to its news release of June 6, 2012, it has completed, in two tranches, the advance of an aggregate of $225,000 (the "Loan") to QMX Gold Corporation ("QMX")(formerly, Alexis Minerals Corporation) pursuant to a loan agreement between the Company and QMX dated July 25, 2012. The Loan plus accrued interest is considered a partial advance of the cash consideration payable by the Company to QMX for the properties the Company is acquiring from QMX (the "Properties") in connection with its qualifying transaction (the "Qualifying Transaction").
On June 6, 2012, the Company announced that the Loan would be secured by a lien on certain real property owned by QMX located in Val-d'Or. The Company subsequently agreed that the Loan would be secured by a first mortgage in the principal amount of $225,000, on 111 mining claims located in the Val-d'Or area of Quebec known as the Dunraine claims. QMX has also agreed to use the proceeds of the Loan only on direct expenses related to the Properties.
The Loan has a maturity date of the earlier of December 22, 2012, the date of completion of the Qualifying Transaction, and the date of termination of the Qualifying Transaction and will accrue interest at a rate of 8% per annum.
About Druk Capital Partners Inc.
Druk was listed in September 2010 as a Capital Pool Company under TSX Venture Exchange Policy 2.4 and is headquartered in Vancouver, B.C. The company was established by a seasoned group of professionals who have consistently contributed to strong performances in their respective companies over the years through achievement of value enhancing milestones.
On behalf of the board of directors of DRUK CAPITAL PARTNERS INC.
Kelly Klatik, President and CEO
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. 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 the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the 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 Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release contains forward-looking statements relating to the timing and completion of the Proposed Transaction, the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Proposed Transaction and the future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the Proposed Transaction will be completed and that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
Neither the 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 press release.