Major Shareholder, Sasco Partners LP, Reports the Private Sale of 5.0
Million Shares of Minfocus and 2.0 Million of the Shares Purchased by
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/02/13 -- Minfocus
Exploration Corp. (TSX VENTURE:MFX) ("Minfocus") announces it has
been advised that Sasco Partners LP ("Sasco") has reported that,
during the month, on or before December 31st, 2012, it completed the
private sale of 5.0 million shares of its holdings in Minfocus at a
price of $0.035 per share ("Sasco Shares") as part of their year-end
tax-loss selling program. The 50-day moving average price of Minfocus
shares traded, as of December 31, 2012, was $0.036 per share and a
total volume of 170,000 Minfocus shares were traded on the TSXV for
the month of December.
In January 2012, Sasco subscribed for 6.0 million units of Minfocus
in the private placement carried out concurrently with the completion
of the Qualifying Transaction of Minfocus on the TSXV. Sasco now
holds a remaining 1.0 million shares in Minfocus and 3.0 million
share purchase warrants.
Further to the sale of the Sasco Shares, Minfocus advises that it has
been reported that two Minfocus Directors were purchasers of a total
of 2.0 million of the Sasco Shares sold. The other shares were
purchased by non-insiders of Minfocus.
About Minfocus Exploration Corp.
Minfocus Exploration Corp. is a Canadian company currently focused on
the continued growth of a portfolio of Platinum Group Element ("PGE")
rich resource assets through exploration, acquisitions and joint
ventures in Northwest Ontario, Canada, which is one of the most
stable mining districts in the world with global class PGE deposits.
Minfocus has a distinguished management group with a record of
multiple discoveries of deposits worldwide, and more than 15 years
experience and success exploring for PGE-rich resources in Ontario,
including the discovery of the first Platinum-rich PGE deposit, the
Panoramic Resources' Current Lake deposit (+700,000 oz Pt-Eq). The
Minfocus management group also has extensive strength and success in
corporate development, M&A and project development, which together
with its technical prowess is aimed at delivering growth in
shareholder value through a balanced strategic approach.
s release includes certain forward-looking statements
concerning the future performance of the Company's business and
operations as well as management's objectives, strategies, beliefs
and intentions. Forward-looking statements are often identifiable by
the use of words such as "may", "will", "might", "would", "plan",
"believe", "expect", "anticipate", "intend", "estimate", "scheduled",
"forecasts" and similar expressions or variations (including negative
variations) of such words and phrases. Forward-looking statements are
based on the current opinions and expectations of management, and are
subject to a number of risks and uncertainties that may cause actual
results, performance or achievements of the Company to be materially
different from those currently anticipated by such statements.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things, the
possibility that future exploration results will not be consistent
with the Company's expectations, fluctuating commodity prices, delays
in commencing the Company's proposed drilling program, exploration
costs varying significantly from estimates, the availability of
financing, and other risks identified in the Company's documents
filed with the Canadian securities regulatory authorities at
www.sedar.com. Any forward-looking statement speaks only of the date
on which it is made, and except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulatory Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
Minfocus Exploration Corp.
Kenneth de Graaf
Senior Vice President
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