Message #12 From:
NewsBot Date: December 2, 2005 02:19:00 PM
PVMCF News Pine Valley Mining Unit Offering Increased to $10.1 Million
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 2, 2005--Pine Valley Mining Corporation (TSX VENTURE:PVM)(OTCBB:PVMCF) (the "Company") is pleased to announce that a syndicate of agents have agreed to sell an additional 370,000 units for incremental gross proceeds of $925,000 pursuant to an option granted to the syndicate of agents, in conjunction with the previously announced private placement of units. The exercise of the option increases the unit offering to a total of 4,055,000 units raising aggregate gross proceeds of $10,137,500. Details of the private placement of units are described in the press releases issued November 30, 2005.
The Offering is subject to certain conditions including, but not limited to, satisfactory due diligence, the execution of a definitive agency agreement with the Agents and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
This press release is not an offer of the securities for sale in the United States. The securities offered will not be or have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
This news release contains certain "forward-looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties including but not limited to economic, competitive, governmental and geological factors affecting the Company's operations, markets, products and prices and other risk factors. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company's dependence on the steel industry, volatility in coal prices, accidents and other risks associated with mining operations, the Company's need for and availability of additional financing, the restrictions imposed under the Company's existing debt arrangements and its debt service requirements and the other risk factors discussed in greater detail in the Company's various filings with the Securities and Exchange Commission and Canadian securities regulators, including the Company's Form 20-F dated September 30, 2005.
PINE VALLEY MINING CORPORATION
Graham Mackenzie, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release.
Pine Valley Mining Corporation (TSX VENTURE:PVM) (OTC Bulletin Board:PVMCF)
