2005 News Releases
Maple Minerals Corp. Increases Size of Financing to $5 Million
TORONTO, ONTARIO, October 3, 2005 – Maple Minerals Corp. ("Maple") (MPM:TSX-V) announces that it has increased the size of its previously announced unit financing (see press release of September 29, 2005) to $5,000,000. Sprott Asset Management will purchase $4,000,000 of the financing. The remaining terms of the financing remain unchanged.
Completion of the financing is subject to receipt of TSX-V approval.
In other news, Maple is pleased to announce the appointment of Mr. Arni Johannson as a director. Mr. Johannson is the co-founder and a partner of The Fortress Financial Group. In connection with Mr. Johannson’s appointment as a director, Maple has granted Mr. Johannson 100,000 options, each option exercisable at $2.75 per share until October 2, 2010. The options are subject to regulatory approval.
Maple is a Toronto based resource company with property interests in Australia, Argentina, Mongolia, Africa and Canada. For more information about Maple, please visit the company’s website at www.mapleminerals.com.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Maple’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Maple disclaims any intent or obligation to update these forward-looking statements and cautions investors from placing undue reliance on forward-looking statements. Maple does have an ongoing obligation to disclose material information as it becomes available.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please contact:
Maple Minerals Corp.
Janice Crawford, Secretary
Telephone: (416) 643-7630