Business
Georox Resources Inc. announces lapse of mining concessions in Ecuador
NELSON, BC, April 2 /CNW/ - Georox Resources Inc. ("Georox" or the "Company") (GXR:TSX-V; OF6A:FR...
About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\nNELSON, BC, April 2 /CNW/ - Georox Resources Inc. ("Georox" or the\n"Company") (GXR:TSX-V; OF6A:FRA) announces that it has decided not to make\nannual concession payments on any of its mining concessions in Ecuador.\nConsequently, all of the Company's mining concessions will lapse. The\nCompany's concessions have been significantly adversely affected by the\nGovernment of Ecuador's implementation of changes to the country's\nconstitution and mining law on January 29, 2009 and general political and\nbusiness climate in Ecuador and the Company has determined that it is\nuneconomic for it to continue operations in Ecuador.\n\n\nThe Company has begun to look for new opportunities in order to expand or\nchange Georox's business. The Company will rely on the expertise of management\nand the Board of Directors of Georox as it carries out this review and will\nobtain shareholder approval of any changes in business or acquisition of\nassets, if required by the TSX Venture Exchange and/or applicable law.\n\n\nAbout Georox\n\n\nGeorox Resources Inc. is a mineral exploration company engaged in the\nacquisition, development and exploration of mining properties. The Company is\ncommitted to the creation of shareholder value through the exploration and\ndevelopment of natural resources in an environmentally, economically and\nsocially responsible manner within its host countries and communities.\n\n\nThe Company trades its common shares on the TSX Venture Exchange under\nthe symbol GXR and on the Frankfurt Stock Exchange under the symbol OF6A. For\nfurther information you can visit the Company's website at:\nwww.georoxresources.com or view the Company's records on SEDAR at:\nwww.sedar.com\n\n\nCautionary Statement:\n\n\nNeither the TSX Venture Exchange nor its Regulation Service Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nNo stock exchange, securities commission or other regulatory authority\nhas approved nor disapproved the information contained herein. This news\nrelease includes certain "forward looking statements". All statements other\nthan statements of historical fact, included in this release, including,\nwithout limitation, statements regarding potential mineralization and\nreserves, expl...