|By Marketwired .||
|June 30, 2014 04:05 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/30/14 -- Azul Ventures Inc. ("Azul" or the "Company") (TSX VENTURE: AZL) announces that it intends to seek approval from shareholders for a consolidation of the common shares of Azul on three for one (3:1) basis, such that the existing 30,699,362 common shares will be consolidated and there were be approximately 10,233,121 post-consolidated common shares issued and outstanding (the "Consolidation"). Conditional on the approval and completion of the Consolidation, Azul proposes to undertake a non-brokered private placement offering of up to 28,000,000 post-consolidated common shares of Azul at a price of $0.05 per post-consolidated common share for aggregate gross proceeds of up $1,400,000 (the "Offering"). Assuming completion of the Offering, the net proceeds will be used to fund the Company's exploration and development activities, to repay the outstanding debt in full and for general corporate purposes.
The Offering will be made available by way of private placement exemptions in Canada and may be offered in other jurisdictions where they can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.
It is expected that the Offering will result in the creation of a "Control Person" as such term is defined by the TSX Venture Exchange. Accordingly, shareholder approval for the creation of a "Control Person" will be sought at the same time as approval for the Consolidation.
Additionally, the Company is proposing to acquire a 100% interest (subject to a 2% Net Smelter Royalty) in 35 contiguous unpatented mineral claims, totalling 455 units and covering 7,264 hectares of land near Red Lake, Ontario (the "Treasure Property"). The Treasure Property is an early stage gold exploration property and would be acquired by Azul in exchange for the issuance of 6,000,000 post-consolidated shares of Azul to the current property owners (the "Acquisition").
The Offering and the Acquisition are subject to a number of conditions including receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.
All securities issued in connection with the Offering and the Acquisition will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law legislation.
Further details on the Offering, the Acquisition and the upcoming special shareholder meeting will be provided in the Company's Management Information Circular currently being prepared. A press release will be issued when further details on the special shareholder meeting are available.
About Azul Ventures Inc.
Azul Ventures Inc. is a mineral exploration company with the rights, through its wholly owned subsidiary Minera Azul Ventures Limitada, to acquire a 100% interest in two prospective copper-iron properties in La Higuera, Chile: the La Higuera Property and the Caballo Blanco Property. The properties are located approximately 600 km north of Santiago in a prolific I.O.C.G. belt surrounded by excellent infrastructure in a mining friendly jurisdiction.
The La Higuera Property was assembled as a result of the first-time consolidation of mining rights and covers a historic copper mining district with mining activity dating back to at least the late 18th century; however, there had been no known modern exploration conducted on the property. The mining concessions total 1,076 hectares and include two option agreements with separate concession holders (down from a total of 1,230 hectares which included four option agreements with concession holders, as two option agreements have been dropped). Since the consolidation of the mining rights in June 2011, Azul completed a rock sampling program, completed geophysical work which generated intense magnetic and chargeability anomalies coincident with existing copper workings, finalized a 4,088 m drill program and an underground mapping and sampling program.
The Caballo Blanco Property, which begins approximately 1 km southwest of the La Higuera Property, has historical copper workings and a total of 15 broad spaced reconnaissance holes were completed at Caballo Blanco by previous option holders. The Company has received and logged the core from these historical drill holes.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; market conditions; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the "Risk Factors" section of the Company's Filing Statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Azul undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the 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.
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 21, 2016 01:00 PM EDT Reads: 896
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 21, 2016 01:00 PM EDT Reads: 913
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Oct. 21, 2016 12:45 PM EDT Reads: 1,321
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Oct. 21, 2016 12:15 PM EDT Reads: 860
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 21, 2016 12:00 PM EDT Reads: 671
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 21, 2016 12:00 PM EDT Reads: 8,042
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 21, 2016 10:50 AM EDT Reads: 196
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Oct. 21, 2016 10:45 AM EDT Reads: 1,635
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 21, 2016 10:30 AM EDT Reads: 535
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 21, 2016 10:30 AM EDT Reads: 1,222
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
Oct. 21, 2016 10:15 AM EDT Reads: 1,373
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
Oct. 21, 2016 09:30 AM EDT Reads: 1,124
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 21, 2016 09:30 AM EDT Reads: 430
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
Oct. 21, 2016 09:15 AM EDT Reads: 262
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 21, 2016 08:45 AM EDT Reads: 11,119