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Vancouver, British Columbia, Canada, December 16, 2011. Empire Mining Corporation (EPC: TSX-V) ("Empire") is pleased to announce that is has issued the share consideration to Alacer Gold Corp. ("Alacer") in connection with its acquisition of a 100% interest in the Bursa Licences, which cover the Demirtepe and Karapinar projects in Turkey, as last announced October 19, 2011. Empire is now required to pay the sum of US$1,500,000 on or before December 31, 2011 to complete the acquisition. In the aforementioned issuance, Empire has issued 11,563,861 common shares (each, a "Share") to Alacer. Alacer is located at 10333 East Dry Creek Road, Suite 240, Englewood, CO 80112, United States. Prior to the aforementioned issuance, Alacer held 1,000,000 Shares, which represented approximately 1.93% of Empire's issued and outstanding Shares. Alacer now holds 12,563,861 Shares, representing approximately 19.9% of Empire's issued and outstanding Shares and an increase of approximately 17.97%. Empire understands that Alacer's Share holdings are all direct ownership. Shares issued to Alacer are issued at the deemed price of $0.37 per Share. Alacer has informed Empire that its purpose in effecting the aforementioned transaction is for investment purposes and it has no present intention to acquire ownership of, or control over, additional securities of Empire. Empire has issued the Shares in reliance on the Accredited Investor exemption under applicable securities law. ON BEHALF OF THE BOARD Robert F. Giustra Chairman |
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| aus der Diskussion: | Empire Mining Corporation EPC |
| Autor (Datum des Eintrages): | KMST (22.12.11 19:13:58) |
| Beitrag: | 77 von 171 (ID:42515434) |
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