Jul 17, 2012
URSA Major Minerals and Prophecy Platinum Corp. Amalgamate
URSA Major Minerals Incorporated ("URSA Major" or
the "Company") (TSX-UMJ) today reports that
further its news release dated May 30, 2012, URSA Major and
Prophecy Platinum Corp ("Prophecy Platinum")
(TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) are pleased to
announce that the acquisition of URSA Major by Prophecy
Platinum (see joint URSA Major/Prophecy Platinum news,
April 16, 2012) was completed on July 16, 2012 (the
"Closing Date"). Ross Glanville & Associates Ltd.
acted as financial advisor to URSA Major.
The last day of trading of the common shares of URSA Major
on the TSX will be close of markets on July 18, 2012.
Following the transaction, Prophecy Platinum will have a
total of approximately 58,705,461 common shares issued and
outstanding, as well as options and warrants entitling
holders to purchase approximately 9,037,347 common shares,
at exercise prices ranging from $7.50 to $0.9 and having
expiry dates ranging from August 9, 2012 to July 13,
2017.
About Prophecy Platinum
Prophecy Platinum Corp. is a mineral exploration company
focused on developing platinum group metals (PGM) and
nickel sulphide projects. Defining and driving the company
is its flagship Wellgreen PGM Nickel Copper property in
Canada's Yukon Territory. Prophecy Platinum's
further holdings include the Lynn Lake Nickel Copper
project in Manitoba, the Las Aguilas Nickel PGM deposit in
Argentina, as well as five prospective claims in
Uruguay.
About URSA Major Minerals
URSA Major is a Canadian mining company with a nickel mine
and two nickel sulphide projects containing significant NI
43-101 compliant nickel and copper reserves and resources.
URSA Major is focused on expanding operations at the
Shakespeare Nickel Mine and growing its nickel, copper and
platinum group metal (PGM) deposits through exploration and
development, primarily in Ontario, Canada.
Dr. Richard Sutcliffe, President & CEO
Alison Tullis, Investor Relations Manager
Phone: 416-864-0615
atullis@ursamajorminerals.com
http://www.ursamajorminerals.com/
Chris Ackerman
Senior Manager, Investor Relations
1-800-459-5583
cackerman@prophecyplat.com
www.prophecyplat.com
Address: 8 King Street East, Suite #1300, Toronto, Ontario,
Canada M5C 1B5
Symbol & Exchange: UMJ -- TSX
Cautionary Statements: Completion of the transaction is
subject to a number of conditions, including regulatory
approval, shareholder approvals, completion of satisfactory
due diligence, a definitive agreement and approval of the
Ontario Supreme Court if applicable. There can be no
assurance that the transaction will be completed as
proposed or at all. Investors are cautioned that, except as
disclosed in the Management Information Circular 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 exploration
and development stage resource companies should be
considered highly speculative.
Forward-Looking Statements: This news release includes
certain statements that may be deemed "forward-looking
statements". All statements in this release, other
than statements of historical facts, including, without
limitation, statements regarding potential mineralization,
the estimation of mineral resources, the realization of
mineral resource estimates, interpretation of prior
exploration and potential exploration results, estimates of
production, the timing and success of exploration,
development and production activities generally, the timing
and results of future resource estimates, permitting time
lines, metal prices, availability of capital, government
regulation of exploration operations, environmental risks,
reclamation, title, and future plans and objectives of the
companies are forward-looking statements that involve
various risks and uncertainties. Although URSA Major and
Prophecy Platinum believe the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in the forward-looking statements.
Forward-looking statements are based on a number of
material factors and assumptions. Factors that could cause
actual results to differ materially from those in
forward-looking statements include unsuccessful exploration
results, changes in project parameters as plans continue to
be refined, results of future resource estimates, future
metal prices, availability of capital and financing on
acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment
on a timely basis, accidents or equipment breakdowns,
delays in receiving government approvals, unanticipated
environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein
and from time to time in the filings made by the companies
with securities regulators. Readers are cautioned that
mineral resources that are not mineral reserves do not have
demonstrated economic viability. Mineral exploration and
development of mines is an inherently risky business.
Accordingly the actual events may differ materially from
those projected in the forward-looking statements. For more
information on URSA Major and Prophecy Platinum and the
risks and challenges of their businesses, investors should
review their annual filings that are available at
www.sedar.com.
"Neither the TSX nor its Regulation Services Provider
(as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this
release."
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