Loncor Resources Moves to Toronto Stock Exchange
25 Abril 2013 - 9:57AM
Marketwired
Loncor Resources Inc. (the "Company" or "Loncor") (TSX
VENTURE:LN)(NYSE MKT:LON)(NYSE Amex:LON) is pleased to announce
that its common shares will begin trading on the Toronto Stock
Exchange ("TSX") under the symbol "LN" effective Friday April 26,
2013 and will be delisted from the TSX Venture Exchange ("TSX-V")
at the same time. Loncor began trading on the TSX-V in December
2008 and has been listed on NYSE-MKT (formerly the AMEX market)
under the trading symbol "LON" since April 2011. The Company has
73,439,732 common shares issued and outstanding.
"Moving from the Venture exchange to the TSX main exchange
represents a significant milestone in Loncor's evolution and
development as a Canadian resource company," commented CEO Peter
Cowley. "While the Venture exchange provided an excellent place
from which to launch an exploration company, we envision that the
TSX listing will increase the liquidity of the Company's common
shares and provide greater access to capital."
Loncor Resources is a Canadian gold exploration company focused
on two key projects in the Democratic Republic of the Congo ("DRC")
- the Ngayu and North Kivu projects. The Company has exclusive gold
rights to an area covering 2,087 sq km of the Ngayu Archaean
greenstone belt in Orientale province in the northeast portion of
the DRC. Loncor also owns or controls 53 exploration permits in
North Kivu province located west of the city of Butembo. Both areas
have historic gold production. At its Makapela project, Loncor has
an Indicated Mineral Resource of 0.61 million ounces gold (2.20
million tonnes grading at 8.66 g/t Au) and on Inferred Mineral
Resource of 0.55 million ounces gold (3.22 million tonnes grading
at 5.30 g/t Au). Led by a team of senior exploration professionals
with extensive African experience, Loncor's strategy includes an
aggressive drilling program to follow up on initial known targets
as well as covering the entire greenstone belt with regional
geochemical and geophysical surveys. Additional information with
respect to the Company's projects can be found on the Company's web
site at www.loncor.com.
Peter Cowley, President and CEO of Loncor, is the "Qualified
Person" (as such term is defined in National Instrument 43-101) who
approved the contents of this press release. Additional information
with respect to the Company's Ngayu Gold Project is contained in
the technical report prepared by Venmyn Rand (Pty) Ltd, dated May
29, 2012 and entitled "Updated National Instrument 43-101
Independent Technical Report on the Ngayu Gold Project, Orientale
Province, Democratic Republic of the Congo." A copy of this report
can be obtained from SEDAR at www.sedar.com and EDGAR at
www.sec.gov.
Forward-Looking Information: This press release contains
forward-looking information. All statements, other than statements
of historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements regarding
mineral resource estimates and the Company's plans and objective)
are forward-looking information. This forward-looking information
reflects the current expectations or beliefs of the Company based
on information currently available to the Company.
Forward-looking information is subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things,
risks related to the exploration stage of the Company's properties,
the possibility that future exploration results will not be
consistent with the Company's expectations, changes in world gold
markets and equity markets, political developments in the DRC,
uncertainties relating to the availability and costs of financing
needed in the future, failure to establish estimated mineral
resources (the Company's mineral resource figures are estimates and
no assurance can be given that the indicated levels of gold will be
produced), the uncertainties involved in interpreting exploration
results and other geological data and the other risks disclosed
under the heading "Risk Factors" and elsewhere in the Company's
annual report on Form 20-F dated March 28, 2013 filed on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov. Forward-looking
information speaks only as of the date on which it is provided and,
except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking information, whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
For further information, please visit our website at
www.loncor.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Loncor Resources Inc. Peter N. Cowley President and
Chief Executive Officer + 44 (0) 790 454 0856 Loncor Resources Inc.
Arnold T. Kondrat Executive Vice President Loncor Resources Inc.
Naomi Nemeth Investor Relations (416) 366-9189 or 1 (800) 714-7938,
Ext 2802 www.loncor.com
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