Business
Pacific Cascade Minerals Inc. Announces That The Company Will Not Be Proceeding With The Biofuels Joint Venture Project
Pacific Cascade Minerals Inc. Announces That The Company Will Not Be Proceeding With The Biofuels...
About this update from Bathurst Metals Corp
[{"type":"text","content":"\nPacific Cascade Minerals Inc. Announces That The Company Will Not Be Proceeding With The Biofuels Joint Venture Project\n\n\n Jul. 13, 2010 (TheNewswire.ca) -- Vancouver, British Columbia -On behalf of the BoardMr. Harold Forzley, President of Pacific Cascade Minerals Inc. (TSXV:PCV) (the \"Company\") announces that the Company will not be proceeding with the Biofuels Joint Venture Project (\"Biofuel Project\") . The Company received Shareholder approval on the proposed Biofuel Project, Change of Business and Name Change at its April 16, 2010 Annual General and Special Meeting of the Shareholders and the Company later received Conditional Approval from the TSX Venture Exchange on April 27, 2010. The Company proposed a $1,750,000 brokered private placement to fund the Biofuel Project and provide working capital but market conditions have not been conducive to complete this financing. At this point, the Board of Directors of the Company believe it is in the best interests of the Company and its Shareholders to retain the Company's status as a mining and exploration company. The Company is currently negotiating a private placement to provide working capital and return PCV to trading on the TSX Venture Exchange as soon as possible. The Company has been halted from trading since July 6, 2009 due to the Change of Business related to the Biofuel Project.ON BEHALF OF THE BOARD OF DIRECTORS,\"Harold Forzley\"Harold ForzleyPresident & CEOPacific Cascade Minerals Inc.For more information contact Harold Forzley, President and CEO at:Telephone: (604) 685-5851Facsimile: (604) 685-7349The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor.Copyright (c) 2010 Thenewswire.ca - All rights reserved.\n\n\n\n","length":2080,"tagName":"div"}]