Kaizen Discovery Closes C$5 Million Private Placement with ITOCHU Corporation
06 Fevereiro 2014 - 8:16PM
Marketwired
Kaizen Discovery Closes C$5 Million Private Placement with ITOCHU
Corporation
Kaizen-ITOCHU collaborative framework agreement now in
effect
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) -
Kaizen Discovery (TSX-VENTURE:KZD) announced today that further to
its news release of January 30, 2014, it has closed the private
placement to ITOCHU Corporation of 8,500,000 common shares of
Kaizen at a price of C$0.60, for gross proceeds of C$5,100,000.
ITOCHU now holds 6.35% of Kaizen's issued common shares.
The proceeds of the placement will be used by Kaizen to fund
exploration and development activities associated with Kaizen's
mineral exploration properties, including the Ebende
nickel-copper-cobalt project in the Democratic Republic of Congo
and the Fairholme copper-gold project in Australia, in accordance
with work programs and budgets approved by Kaizen, as well as for
general corporate and working capital purposes.
The framework agreement between Kaizen and ITOCHU took effect
upon the closing of the placement, setting the stage for the two
companies to work together to evaluate opportunities to explore and
develop selected, high-quality, international mineral projects.
Significant provisions of the framework agreement were summarized
in Kaizen's January 30, 2014, news release.
About Kaizen Discovery
Kaizen is a Canadian, technology-focused, mineral exploration
company that was formed in late 2013 through a combination of
Concordia Resource Corp. and assets acquired from HPX TechCo Inc.,
a 100%-owned subsidiary of High Power Exploration Inc. Kaizen's
existing portfolio of exploration projects consists of Ebende and
Kabongo in the Democratic Republic of Congo, Fairholme in Australia
and Kerboulé in Burkina Faso. With the activation of its
collaboration agreement with ITOCHU, the company's long-term growth
strategy is to produce and deliver minerals to Japanese industries.
A strong management team and an experienced board, combined with
the improved project portfolio and access to HPX TechCo's
leading-edge, proprietary technology, will help enable Kaizen to
more effectively identify and advance world-class mineral
projects.
More information on Kaizen is available at
www.kaizendiscovery.com.
About ITOCHU
Corporation
ITOCHU is one of the leading Japanese trading corporations, with
approximately 130 bases in 66 countries. ITOCHU engages in domestic
trading, import/export, and overseas trading of various products
such as textile, machinery, metals, minerals, energy, chemicals,
food, information and communications technology, realty, general
products, insurance, logistics services, construction, and finance,
as well as business investment in Japan and overseas.
More information on ITOCHU is available at
www.itochu.co.jp/en.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
FORWARD-LOOKING STATEMENTS
Statements in this release that are forward-looking statements
are subject to various risks and uncertainties concerning the
specific factors disclosed here and elsewhere in the company's
periodic filings with Canadian securities regulators. When used in
this document, the words such as "will, could, plan, estimate,
expect, intend, may, potential, should," and similar expressions,
are forward-looking statements. Information provided in this
document is necessarily summarized and may not contain all
available material information.
All such forward-looking information and statements are based on
certain assumptions and analyses made by members of Kaizen's
management in light of their experience and perception of
historical trends, current conditions and expected future
developments, as well as other factors that they believe are
appropriate in the circumstances. These statements, however, are
subject to a variety of risks, uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking information or statements.
Readers are cautioned not to place undue reliance on
forward-looking information or statements.
Kaizen DiscoveryBill
Trenaman+1-604-669-6446www.kaizendiscovery.com
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