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Unitronix Corp.
Planned Reorganization, Spinoff and Dissolution Requires Additional Time to Implement
Published Jul 6 2011
3 min read

Planned Reorganization, Spinoff and Dissolution Requires Additional Time to Implement

July 6, 2011

Greenville, SC - Unitronix Corporation (UTRX-OTC: PINK) and its subsidiaries report that as a result of the May, 2011, field trip to the Cobb Bay and Mattabi area mining claims in Northern Ontario, subsequent data received and data awaited, that elevating the potential of these properties might be merited.

The National Instrument 43-101 for the Standards of Disclosure for Mineral Projects within Canada, a regulatory requirement for inclusion in a prospectus for Unitronix Mining and Exploration Inc. (UMT) to become a public company is therefore delayed

Final laboratory assay results and reports of the SGH Geochemical sampling from both areas are expected shortly. After careful consideration, the original plan to only report on the Aur Lake Exploration Inc. property, as is permitted, should be increased to include one or both of the areas now under review.  This decision could result in an increase of shareholder value.

UTRX estimates a 75 day delay for the setting of a record date for the initial distribution of UMT shares to shareholders, to late September, 2011.

 
Safe Harbor Statement

This press release contains forward looking statement. Such statements without limitation, statements regarding future results of operation, performance and achievements of the company and subsidiaries, including business or financing plans, business trends and other numerous factors can cause the actual results to differ materially from those stated and implied. Unitronix Corporation expressly does not undertake to update such statements.

 

 

 

Contact:

Sandy McAlister

864.233.6391

sandy@shawresourcesinc.com