Dynasty Receieves Conditional Approval of Previously Announced Spin-Off of Copper Duke Gold/Copper Project
Thu Oct 25, 2:32 PM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2007) - Dynasty Metals & Mining Inc. (TSX: DMM.TO) (the "Company" or "Dynasty") is pleased to announce that the TSX Venture Exchange (the "Exchange") has conditionally approved the previously announced agreement to sell the core concessions of its Copper Duke gold/copper project (the "Copper Duke project") to SBI Skin Biology Incorporated ("SBI"), a publicly-traded company listed on the TSX Venture Exchange's NEX Board, for 51,000,000 common shares of SBI and a 2% net smelter royalty on all minerals extracted from it (the "Transaction").
The conditional approval of the Exchange is subject to SBI fulfilling all of the requirements of the Exchange, including obtaining shareholder approval of the Transaction. The previously announced private placements of SBI, for aggregate gross proceeds of approximately $6,000,000, are expected to close concurrently with the closing of the Transaction.
Upon completion Dynasty will control approximately 60% of the outstanding shares of SBI. It is expected that the closing of the Transaction will occur as soon as reasonably possible following shareholder approval.
About Dynasty Metals & Mining
Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.
The Company has two advanced-stage projects, Jerusalem and Zaruma, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield, the Copper Duke Project and the Marianna Joint Venture among other prospects.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
Contacts
Murray Oliver
Dynasty Metals & Mining Inc.
(604) 687-0888
Email: info@dynastyming.com
Website: www.dynastymining.com
Gordon Aldcorn
Brisco Capital Partners
(403) 262-9888
Email: Gordon@briscocapital.com |
