Citadel Gold Mines Inc. completes redemption of Preferred Shares

About this update from Omai Gold Mines Corp.

[{"type":"text","content":"\n\n\n\n/NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES/\n\n\nTORONTO, Aug. 7 /CNW/ - CITADEL GOLD MINES INC. (CGM.H: NEX Exchange).\n\n\nCitadel Gold Mines Inc. (the "Company") announces that it has completed\nits previously-announced redemption of all of its outstanding First Preferred\nShares, Series II, effective as of July 31, 2008 (the "Redemption"), which\nshares were indirectly owned by Dr. Bernard C. Sherman, a principal\nshareholder and related party to the Company.\n\n\nThe aggregate redemption purchase price of $241,734 paid to Dr. Sherman\nwas funded by the issuance of 2,544,568 common shares of the Company.\n\n\nFollowing completion of the Redemption, Dr. Sherman controls, directly\nand indirectly, approximately 59.5% of the Company.\n\n\nThe NEX Exchange has neither approved nor disapproved of the information\ncontained herein. The statements used in this press release may contain\nforward-looking statements that may involve a number of risks and\nuncertainties. These statements reflect management's current expectations\nregarding future events and speak only as of the date of this press release.\nAlthough the Company believes that its expectations reflected in these\nforward-looking statements are reasonable, such statements involve risks and\nuncertainties and no assurance can be given that actual events or results will\nbe consistent with these forward-looking statements. Except as required by\nlaw, the Company does not undertake, and specifically disclaims, any\nobligation to update or revise any forward-looking information, whether as a\nresult of new information, future developments or otherwise. Readers are\ntherefore cautioned not to place undue reliance on any forward-looking\nstatements.\n\n\n%SEDAR: 00004216E\n\n\n","length":1847,"tagName":"div"}]

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