29 Jun 2011 07:00
FOR IMMEDIATE RELEASE: 29 June 2011
CIC Mining Resources Ltd
("CIC Mining Resources", the "Company", or "CICR")
Corporate Update and CNSX de-listing
CIC Mining Resources (AIM:CICR) (FRANKFURT:31C), the consulting and advisory firm operating primarily in the mining energy and infrastructure sectors, is pleased to provide an update on various matters of the Company.
Following the Company's Admission onto AIM in November 2010, the Company has decided that CICR's primary listing moving forward will be the AIM Market of the London Stock Exchange. To that end, the Company has de-listed from the Canadian National Stock Exchange as of 24 June 2011.
In addition, given CICR's main operations are now based in Beijing, China, CICR has decided to re-register its multiple subsidiary and operating businesses as Hong Kong entities so as to improve shareholder transparency as well as efficiencies within its compliancy operations. Likewise, CIC Logistics Limited (BVI), a wholly-owned entity of CICR, will be re-registered as a Hong Kong Company.
The Company is also pleased to notify shareholders that further to the announcement of 20 May 2011, CICR expects to complete settlement of the cash proceeds arising from the Private Placement this week and will provide a further update once complete.
CIC Mining Resources Ltd
The Company is a consulting and advisory company, operating primarily in the mining and energy infrastructure sectors. The Company seeks to provide consulting and advisory services to entities operating at various stages of resource development, and the exclusive right to control the public listing process of any client company if the client company is an unlisted company.
Mining and energy infrastructure companies or projects will include those involved in the exploration for, and extraction of, base metals, precious metals, bulk commodities, thermal and metallurgical coals, industrial metals, hydrocarbons, renewables and new technologies, including single-asset as well as diversified natural resources companies.
The core services provided by CIC Mining Resources are: the Advisory Service which provides a range of technical, project management, strategic and commercial services; the Strategic Investment Service which helps companies source investment from industry partners for which the Company will typically receive an equity interest; and Advice on Listings where the Company helps the client realize value by listing on a Stock Exchange. www.cicresources.com
Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect management's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risk Factors" in the Company's Admission Document which can be found at the Company's profile on SEDAR www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to
Update the reasons why actual results could differ from those reflected in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
CIC Mining Resources Ltd
Stuart J. Bromley
+86 136 0113 1912
OR
Canaccord Genuity Limited
Andrew Chubb/ Bhavesh Patel
+44 (0)207 050 6500
OR
GTH Communications
Toby Hall
+44 (0) 20 3103 3903
Cautionary Statement
Neither CNSX nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.