Canada Zinc Metals arranges $3-million placement CZX.v, TNR.v, BLS.to, LUN.to, QUA.to, FCX, CUU.v, DON.v, BWR.to, CS.to, BHP, RTP, RIO, IMN.to,

Canada Zinc Metals arranges $3-million placement CZX.v, TNR.v, BLS.to, LUN.to, QUA.to, FCX, CUU.v, DON.v, BWR.to, CS.to, BHP, RTP, RIO, IMN.to,

"CZX’s Cardiac Creek deposit (Akie property) represents one of the top 10 largest undeveloped zinc deposits on the planet. The deposit is very good grade with a very high grade section within it that could be mined first (quicker payback of capital). CZX also has a very large prospective land package – this represents a district scale opportunity in mining friendly BC, Canada. Infrastructure in the area is relatively advanced (full road access, railway, power facility, deep sea port). Neighboring property / deposits owned by big players Teck Resources and Korea Zinc. We are going to China to visit Tongling and other Chinese companies next week for further discussions on our project development"

"Tongling exercises its warrants at 20% premium to the market today (0.50CAD) - it is a very positive sign of commitment. Now Chinese company holds 17.5% in Canada Zinc Metals CZX.v, when will they bid for the whole company? Another important shareholder is Lundin Mining LUN.to With new Bailout in Europe direction is to Inflation and Commodities are the place to be. Another company we are following here is engaged in this Chinese M&A in Canada story: TNR Gold Corp. with International Lithium Corp. where CZX has a stake. Will shareholders in TNR Gold wake up one morning with new Chinese connection one day?"

With recent market meltdown Canada Zinc Metals provides another very good Entry point into this Chinese M&A play in Commodities in Canada. Markets are signaling that risk appetite could be back now and Company reports that after Chinese Tongling has exercised their warrants at 0.6CAD it was able to secure another sizable financing at that level with more than 20% premium to the market.

"Canada Zinc Metals arranges $3-million placement

2010-05-27 07:44 ET - News Release
Mr. Peeyush Varshney reports
CANADA ZINC METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Canada Zinc Metals Corp. has arranged a private placement of five million units at a price of 60 cents per unit for gross proceeds of up to $3-million.
Each unit will consist of one common share and one-half share purchase warrant of the company. Each whole warrant will entitle the holder to purchase one additional common share at a price of 80 cents for a period of 18 months from closing.
A finder's fee of 7 per cent will be paid on the private placement. The private placement is subject to TSX Venture Exchange approval.
The proceeds of the private placement are anticipated to be used for further exploration of the Akie Sedex zinc-lead deposit and for working capital purposes.
About the Akie and Kechika regional properties
The Akie zinc-lead property is situated within the southernmost part (Kechika trough) of the regionally extensive Paleozoic Selwyn basin, one of the most prolific sedimentary basins in the world for the occurrence of Sedex zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic zinc-lead Sedex mineralization (Cardiac Creek deposit). The deposit is hosted by variably siliceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel formation. The company has outlined an NI 43-101-compliant inferred resource of 23.6 million tonnes grading 7.6 per cent zinc, 1.5 per cent lead and 13.0 grams per tonne silver (at a 5-per-cent zinc cut-off grade).
Two similar deposits, Cirque and Cirque South Cirque, located approximately 20 kilometres northwest of Akie and owned under a joint venture by Teck Resources and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes (not 43-101-compliant) grading approximately 10 per cent combined zinc and lead.
In addition to the Akie property, Canada Zinc Metals controls a large contiguous group of claims which consist of the Kechika regional project. These claims are underlain by geology identical to that on the Akie property (Cardiac Creek deposit) and Cirque. This project includes the 100-per-cent-owned Mt. Alcock property, which has yielded a historic drill intercept of 8.8 metres grading 9.3 per cent zinc and lead, numerous zinc-lead-barite occurrences, and several regional base metal anomalies.
All of the company's claims (77,889 hectares), with the exception of a small isolated block (2,293 hectares), are in good standing, under the provisions of the Mineral Tenure Act of British Columbia, until Dec. 8, 2018."

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Los Azules: TNR Gold Files Full Response to Minera Andes' Statement of Claim TNR.v, MAI.to, CZX.v, NG.to, LUN.to, ABX, AUY, AEM, BVN, VALE, RTP, FCX,

Los Azules: TNR Gold Files Full Response to Minera Andes' Statement of Claim TNR.v, MAI.to, CZX.v, NG.to, LUN.to, ABX, AUY, AEM, BVN, VALE, RTP, FCX,

"In our quest for the new Bulls ignited by Peak Oil and new disruptive transformational technologies we can not avoid old solid Copper play. Electricity is the most convenient form of energy available to us, it could be generated by using different sources, it could be transported and it could be transformed in another form of energy or to power different devices from A/C to iPod. Now we have means to store it, game has been changed in Energy Business with development of lithium batteries powerful enough for mobility applications. Electric cars is the new game in town and we have defined our Lithium Bull on supply side for Energy Storage applications."

"More on Los Azules

Value of the prise in the ground at Los Azules is rising with every drill hole. It is very important to see that the best grade was in a step out hole 300m to the North - we have a very big chances of increasing size of the deposit at Los Azules. The step out hole 51 and majority of the High Grade Core of the deposit are located on Xstrata's part of the property, back in right into which is now the subject of legal dispute between TNR Gold, Xstrata and Minera Andes."

Interesting - it is the only comment we can make...now we can finally see the legal position of TNR Gold in this litigation process, history of relationship between Xstrata and Minera Andes and what has happened according to lawyers of TNR Gold behind the curtain. We guess that TNR Gold litigation team with George K. Macintosh, Q.C, from Farris, who signed the Statement of Defence, will not allow any baseless conclusions and they have discovered some evidence to the actions described in article 15. These actions give an interesting interpretation to the true intentions and motivations of the different parties involved in the case if provided statements will be proven to be true in the court. Logic of waiving feasibility study and 5 million dollars in trust account to exercise the back-in right are described in details as well. We will refer you to the legal disclosure in the News Release.

We have a position in this company, please, do not consider anything as an investment advise, as usual, on this blog.

TNR Gold Files Full Response to Minera Andes' Statement of Claim

Press Release Source: TNR Gold Corp. On Monday May 17, 2010, 11:29 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2010) - TNR Gold Corp. (TSX VENTURE:TNR - News) and its wholly-owned subsidiary, Solitario Argentina S.A. (collectively, "TNR"), have filed an Amended Statement of Defence and Counterclaim in the Supreme Court of British Columbia responding in detail to the Statement of Claim filed by Minera Andes Inc. and certain related entities (together, "Minera Andes").
As disclosed in our April 23, 2010 press release, TNR notified Minera Andes that it was exercising its back-in right for 25% of certain of the properties constituting the Los Azules project in Argentina (the "Los Azules Project"). Minera Andes is contesting TNR's ability to exercise its back-in right.
The Amended Statement of Defence sets out, among other things, TNR's position as to why the back in clause in the May 2004 Exploration and Option Agreement should be rectified to remove reference to a feasibility study being completed within 36 months, and why the condition linking the timing of the back-in right to the production of a feasibility study was for the sole benefit of TNR and, therefore, could be waived by TNR. TNR has brought a Counterclaim which seeks a positive declaration from the court that TNR's April 23, 2010 back-in notice is valid and enforceable.
We encourage interested parties to review the Amended Statement of Defence and Counterclaim in their entirety on our website for a better understating of our position. The link for this information is as follows:
http://media3.marketwire.com/r/Counterclaim
ABOUT TNR GOLD
TNR and International Lithium Corp ("ILC") are diversified metals exploration companies focused on exploring existing properties and identifying new prospective projects globally. TNR has a portfolio of 18 active projects, of which 9 will be included in the proposed spin-off of International Lithium Corp. For further details of the spin-off please refer to TNR's April 12, 2010 press release or visit http://www.internationallithium.com/.
The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the companies' commitments to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that TNR expects, including the outcome of pending and current litigation, are forward looking statements. Although the Company believes 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. In particular, there are no assurances that TNR will be successful in the current litigation with respect to the Los Azules Project and its back-in right. Accordingly, readers should not place undue reliance on forward-looking statements. This press release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
In addition, it should be noted that the Statement of Defence and Counterclaim are not intended to be, and should not be interpreted as, sources of factual, business or operational information about TNR or any of its affiliates. The Statement of Defence and Counterclaim contain assertions that have been prepared solely for use in connection with the legal dispute with Minera Andres, have not been proven and should, therefore, not be relied upon.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release."

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Canada Zinc Metals: Tongling Nonferrous Metals Group Holdings Co. Ltd. Exercises Share Purchase Warrants CZX.v, TNR.v, LIN.to, BHP, FCX, BLS.to,

Canada Zinc Metals: Tongling Nonferrous Metals Group Holdings Co. Ltd. Exercises Share Purchase Warrants CZX.v, TNR.v, LIN.to, BHP, FCX, BLS.to,

Tongling exercises its warrants at 20% premium to the market today (0.50CAD) - it is a very positive sign of commitment. Now Chinese company holds 17.5% in Canada Zinc Metals CZX.v, when will they bid for the whole company? Another important shareholder is Lundin Mining LUN.to With new Bailout in Europe direction is to Inflation and Commodities are the place to be. Another company we are following here is engaged in this Chinese M&A in Canada story: TNR Gold Corp. with International Lithium Corp. where CZX has a stake. Will shareholders in TNR Gold wake up one morning with new Chinese connection one day?

"Commodities: Zinc Play.

Canada Zinc Metals CZX.v now has very prominent shareholders - players in Zinc market like Chinese Tongling and Lunding Mining LUN.to. Togling has paid for 13% in the company price of 0.425CAD above even today's level of 0.4CAD.
We have called the company and can share with you some information for your further consideration. Please do not take anything as an investment advise and contact the company to verify all information.
"CZX’s Cardiac Creek deposit (Akie property) represents one of the top 10 largest undeveloped zinc deposits on the planet. The deposit is very good grade with a very high grade section within it that could be mined first (quicker payback of capital). CZX also has a very large prospective land package – this represents a district scale opportunity in mining friendly BC, Canada. Infrastructure in the area is relatively advanced (full road access, railway, power facility, deep sea port). Neighboring property / deposits owned by big players Teck Resources and Korea Zinc. We are going to China to visit Tongling and other Chinese companies next week for further discussions on our project development"

Company's presentation.

We will see in the nearest future, whether this market represent to us again opportunity to step in the Commodity Super Cycle and the more boring and forgotten story seems to be - the best value you can get with all proper investigation of management and property strengths."

With rising Zinc prices value in the ground is rising as well, another value driver is exploration: company has set anagressive exploration program for this summer season now.

"2010 AKIE PROPERTY EXPLORATION PROGRAM
Canada Zinc Metals Corp.'s planning is progressing well for the 2010 exploration program on its flagship, 100-per-cent-owned Akie zinc-lead property, located in northeastern British Columbia, approximately 260 kilometres north-northwest of the community of Mackenzie.

The objectives of this program on the Akie property are twofold:
To test the permissive Gunsteel formation -- Road River Group stratigraphy present along strike to the northwest of the Cardiac Creek deposit for the continuation of this mineralization;
To further explore the highly prospective North lead anomaly, located approximately 2.2 kilometres to the northwest of the Cardiac Creek deposit, which is underlain by similar geology. Previous drilling has encountered massive sulphides containing sphalerite and galena (0.8 metre grading 11.60 per cent Zn and 9.05 per cent Pb), sulphide replacement (pyrite, sphalerite, galena) of an underlying footwall debris flow and quartz-carbonate alteration of footwall rocks, all suggestive of proximity to a vent zone."

"This stock represents an opportunity to invest in Chinese Infrastructure via Zinc resource development in Canada. Who will be the final suitor of Akie Chinese Tongling or Lundin Mining? "Strategic investment" in TNR Gold with its upcoming focused Lithium play - International Lithium Corp. adds some spice to the picture with solid resource base in the stable mining environment.
"Canada Zinc Metals CZX.v will be another example of Chinese expansion into Canada. Canadian Juniors will be the most exited public with all recent developments, interesting to note, that sector is building reversal which is more aggressive than USD and Gold pace of changing direction - we have a bullish candle and Free White Soldiers, bullish reversal will be confirmed with crossing MA50."

"Tongling Nonferrous Metals Group Holdings Co. Ltd. Exercises Share Purchase Warrants

Posted on 05/10/10 at 7:36am by Chip Brian
Canada Zinc Metals Corp. (CZX - TSX Venture), is pleased to announce that Tongling Nonferrous Metals Group Holdings Co. Ltd. ("Tongling") has exercised 5.75 million share purchase warrants to acquire 5.75 million common shares at a price of $0.60 per share, for proceeds to the Company of $3,450,000.
"The Cardiac Creek deposit is one of the most significant discoveries in Canada in the past several years," commented Mr. Peeyush Varshney, CEO of Canada Zinc Metals. "We are pleased to see Tongling increase its stake in the Company."

With the exercise of the warrants, Tongling now holds a 17.65% equity position in the Company.
The proceeds of the private placement will be used to fund further exploration and advancement of the Company's Akie property and for working capital purposes.
Tongling Nonferrous Metals Group Holdings Co. Ltd., based in Tongling, Anhui, is a state-owned holding company, and one of China's largest copper smelting companies. Tongling's principal activities are exploration, mining, ore processing, smelting & refining and products processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals.

About Canada Zinc Metals Corp.
Canada Zinc Metals is a mineral exploration company focused on unlocking the potential of a future long life mining district in British Columbia, Canada. The Company is the dominant land holder in a world class mineral belt called the Kechika Trough which hosts in excess of 80 million tonnes of base metal resources. Canada Zinc Metals owns a total of 78,526 hectares in 233 claims which extend northwestward from the Akie property for a distance of 125 km.
About the Akie Property
The Akie zinc-lead property is situated within the southern-most part (Kechika Trough) of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization (Cardiac Creek deposit). The deposit is hosted by variably siliceous, fine grained clastic rocks of the Middle to Late Devonian 'Gunsteel' formation. The Company has filed a NI 43-101 report supporting the estimated inferred resource of 23.6 million tonnes grading 7.6% Zn, 1.5% Pb and 13.0 g/t Ag (at a 5% Zn cut off grade). The complete NI 43-101 technical report, titled "Geology, Diamond Drilling and Preliminary Resource Estimation, Akie Zinc-Lead-Silver Property, Northeast British Columbia, Canada" and dated May 30, 2008, can be viewed on SEDAR.
Two similar deposits, Cirque and South Cirque, located some 20 km northwest of Akie and owned under a joint venture by Teck Cominco and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
CANADA ZINC METALS CORP.
"PEEYUSH VARSHNEY"
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN
Contact: Investor Relations
Phone (604) 684-2181
info@canadazincmetals.com"

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WHOA: NYP Says Federal Agents Have Launched Civil And Criminal Probes Into JPMorgan For Silver Manipulation ASM.v, KTN.v, MGN, RVM.to, EPZ.v, SGC.v,

WHOA: NYP Says Federal Agents Have Launched Civil And Criminal Probes Into JPMorgan For Silver Manipulation ASM.v, KTN.v, MGN, RVM.to, EPZ.v, SGC.v,

We have a giant Bullish Cup and handle formation in Silver now, Gold move to the new high must be confirmed by new high in Silver.

"First Gold will make new all time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. markets will be volatile by all means and political tensions will be driving this Gold Bull as well."

SAI:

"WHOA: NYP Says Federal Agents Have Launched Civil And Criminal Probes Into JPMorgan For Silver Manipulation

Joe Weisenthal May. 9, 2010, 4:43 PM 2,920 19
See Also:


The New York Post has an explosive exclusive, if true:
Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.
The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.
The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.
That JPMorgan (JPM) has somehow been involved in silver market manipulation has been the source of rumor and speculation for a long time.
Things really heated up on this front in March, when a whistleblower was due to speak in Congress about commodity market manipulation, but was scrubbed from the list at the last second. That sent of all kinds of red flags. The New York Post was on the story then too, citing an outspoken trader named Andrew Maguire who claimed that JPMorgan and HSBC were doing the Fed's work in ceaselessly selling silver (nakedly) on behalf of the Fed in order to keep prices down.
If today's report is true, it would clearly indicate that at least at the regulatory level (if not the political level, where any financial reform is bound to be toothless), there's been a major shift in attitude. Add this to the civil charges against Goldman Sachs (GS), and the Moody's (MCO) Wells notice, and you're starting to see a trend."

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Copper in Argentina: TNR Gold Provides Update on Los Azules Copper Project TNR.v, CZX.v, MAI.to, AUY, BVN, ABX, LUN.to, RTP, BHP, RIO, CUU.v, FCX, FXI

Copper in Argentina: TNR Gold Provides Update on Los Azules Copper Project TNR.v, CZX.v, MAI.to, AUY, BVN, ABX, LUN.to, RTP, BHP, RIO, CUU.v, FCX, FXI

Value of the prise in the ground at Los Azules is rising with every drill hole. It is very important to see that the best grade was in a step out hole 300m to the North - we have a very big chances of increasing size of the deposit at Los Azules. The step out hole 51 and majority of the High Grade Core of the deposit are located on Xstrata's part of the property, back in right into which is now the subject of legal dispute between TNR Gold, Xstrata and Minera Andes.

"The very important issue for development of Los Azules - ownership for Escorpio IV stays with TNR Gold until court decision in the Fall. Escorpio IV will accommodate part of the mining facilities according to Minera Andes Preliminary Economic Assessment of the Los Azules."

"TNR Gold has announced today (23rd of April, 2010) a very important milestone in the development of the company: management and, what is very important, investors behind this financing are not discouraged by any legal rhetoric from Xstrata and Minera Andes and methodically advancing their legal case in Los Azules back-in right case. Company reports that as part of its legal strategy TNR Gold secured the credit facility and have notified Minera Andes about an early back-in right into the Los Azules project.It looks like money will be used only in case of successful litigation progress and this bridge loan allows company to finance the back-in right without dilution of TNR Gold and International Lithium Corp. at these price levels, which do not reflect the possible success in litigation.You can review Los Azules project details in Minera Andes presentation. Recent news on developments at Los Azules can be found here and for further reference we will address you to the latest TNR Gold presentation. Every legal case brings uncertainty and you should address it in a legal statement below."

We are not legal experts, but legal tactic of TNR Gold with announced early back in waiving the condition of feasibility study looks very interesting in conjunction with Law and Equity Act:

"Conditions precedent

54 If the performance of a contract is suspended until the fulfillment of a condition precedent, a party to the contract may waive the fulfillment of the condition precedent, even if the fulfillment of the condition precedent is dependent on the will or actions of a person who is not a party to the contract if

(a) the condition precedent benefits only that party to the contract,

(b) the contract is capable of being performed without fulfillment of the condition precedent, and

(c) where a time is stipulated for fulfillment of the condition precedent, the waiver is made before the time stipulated, and where a time is not stipulated for fulfillment of the condition precedent, the waiver is made within a reasonable time."

Feasibility study -- a detailed investigation and analysis of a proposed development project to determine whether it is viable technically and economically. It looks like that it will be clearly to the benefit of TNR Gold to know, whether Los Azules can be economically viable or not before back in and if they have decided to take the risk, put the money and step in before it - how it could be denied? We will monitor the situation.

We have a position in this company, please, do not consider anything as an investment advise, as usual, on this blog.

TNR Provides Update on Los Azules Copper Project

Press Release Source: TNR Gold Corp. On Friday May 7, 2010, 3:21 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2010) - TNR Gold Corp. (TSX VENTURE: TNR - News; "TNR" or the "Company") is pleased to provide the following update on the status of its Los Azules project located in the San Juan province of Western Argentina.
Minera Andes Inc. ("MAI"), announced yesterday that they have received further positive results from their diamond drill program of approximately 10,007 metres at the Los Azules project. For further details on the exploration program, please refer to MAI's news on May 6th, 2010.
The Los Azules project is an advanced exploration project currently reporting a National Instrument 43-101 compliant Inferred Resource. TNR's wholly owned subsidiary, Solitario Argentina S.A., has served notice of exercising its 25 per-cent back-in right to certain of the properties. Solitario's right to back into the properties is the subject of a lawsuit filed by Minera Andes, and the terms of the back in right are the subject of litigation between Solitario and Xstrata. A court date is set for the fall of 2010.
In the legal dispute with Xstrata, TNR is also seeking confirmation of its ownership of the Escorpio IV property, which is located adjacent to the Project, and a declaration that the Escorpio IV property is excluded from the Exploration and Option Agreement.
ABOUT TNR GOLD / INTERNATIONAL LITHIUM CORP.
TNR and International Lithium Corp. ("ILC") are diversified metals exploration companies focused on exploring existing properties and identifying new prospective projects globally. TNR has a portfolio of 18 active projects, of which 9 will be included in the proposed spin-off of International Lithium Corp. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit http://www.internationallithium.com/.
The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the companies' commitments to generating projects, diversifying its markets, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements. In particular, there are no assurances that any transaction will result from the strategic review, or that if any transaction arises, that it will be completed. Nor are there any assurances that the Company will be successful in the current litigation with respect to the Project. This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration."

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