Therma-Med Inc. Completes Their 2011 Acquisition Payment for the Hindon Copper Property
December 05 2011 - 9:45AM
Marketwired
Therma-Med Inc. (PINKSHEETS: THRA) is pleased to announce the
completion of its 2011 option payment for the Hindon Copper
property located in Ontario, Canada.
The Company has completed year one of the three year option
payment for the Hindon property, ahead of schedule. Therma obtained
two debt financings totalling $110,000, ($25,000 on July 27, 2011
and $85,000 on December 1, 2011), to secure this strategic
property. These financings bear no interest and can be converted
into common shares of the Company after one year with the approval
of both parties. We will look at implementing similar financings to
secure funds for the upcoming work programs.
The contract for our B.C. property in the Slocan region is
currently being reviewed and amended. This region presents
tremendous potential, however, due to limited resources we will
have to extend our timelines to fully develop this opportunity.
CEO Zajay Trujillo stated, "I'm pleased that we are achieving
these small steps along our journey towards production. Securing
financing through debt instrument allows no immediate dilution of
our stock and shareholders value. We will continue to focus on
transparency and look at cost effective methods of fulfilling our
game plan."
Please check the Company's website for further updates.
Safe Harbor This press release contains statements, which may
constitute "forward-looking statements" within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Those statements include statements regarding the intent, belief or
current expectations of Therma-Med, Inc. with members of its
management team as well as the assumptions on which such statements
are based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The Company undertakes no obligation
to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
Contact Information: Therma-Med Inc. www.therma-medinc.com
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