THUNDER BAY, Jul 17, 2013 -
Sendero Mining Corp. ("Sendero" or the "Company") (TSX VENTURE:SM) is pleased to announce that it entered into shares for debt agreements totalling $115,000.00 with arm's length third parties.
A total of 920,000 common shares with a deemed issuance price of $0.125 for aggregate proceeds of $115,000.00 will be issued to unrelated parties for the settlement of payments owing under the Las Leddas option agreement, and a related finder's fee agreement, as disclosed in a news release by the Company on February 17, 2012. Given the size and scope of the required investment, management of Sendero believes the project would be better advanced by a larger resource company and has therefore decided to terminate its Las Leddas option. The Company has decided to settle a portion of this payment in common shares to preserve a portion of its existing cash on hand for ongoing working capital requirements.
The issuance of the common shares will not result in the creation of a new Control Person (as such term is defined in the TSX Venture Exchange Corporate Finance Manual), will be subject to a four-month hold period from the date of the settlement and will be subject to the approval of the TSX Venture Exchange.
On January 24th 2013, the Company announced that it had obtained an unsecured loan from two arm's length parties in the aggregate amount of US$500,000. The Company is pleased to announce that it has repaid both parties in full.
About Sendero Mining Corp.
Sendero Mining Corp. (TSX VENTURE:SM) is a Canadian publicly-listed mineral exploration and development company. Sendero's flagship Aurum-Copper property, which is a surface copper oxide project, is located 12km from Teck Resources' El Relincho project. Management looks to leverage its exploration and development expertise to bring additional resources and value to shareholders and to reduce exploration risk and expense through its advancement of small-scale production. The Company is committed to upholding the highest environmental and social standards while focusing on delivering the financial growth its shareholders expect.
ON BEHALF OF THE BOARD OF DIRECTORS
John Seaman
CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future, exploration results relating to the Aurum-Copper property, exploration plans for the Aurum-Copper property and the exploration potential of the Aurum-Copper property. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Apex Capital Inc.
Brett Allan
416-907-4148
ballan@apexcap.ca
