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MCM Capital One Inc. Update on Proposed Qualifying Transaction With Siguiri Gold Mining Corp.

TORONTO, ONTARIO--(Marketwire - Jan. 31, 2013) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

MCM Capital One Inc. (TSX VENTURE:ZGN.P) ("MCM"), a capital pool company as defined under Policy 2.4 ("Policy 2.4") of the TSX Venture Exchange (the "Exchange"), is pleased to provide this Press Release to its shareholders and members of the public to update shareholders and others with respect to its proposed "Qualifying Transaction", as defined by Policy 2.4, with Siguiri Gold Mining Corp. ("Siguiri") as previously announced on July 18, 2012 and August 24, 2012, in respect to a proposed amalgamation (the "Transaction") of the parties.

The parties are continuing to work towards completing the steps necessary to complete the Transaction, including obtaining a final NI 43-101 report on a gold exploration property in Guinea that Siguiri has an option on, and completing the audited financial statements for Siguiri.

In addition, as announced on August 24, 2012, MCM reports that it has advanced to Siguiri $81,000 (25,000 as an unsecured loan to be applied by Siguiri to preserve its assets, and $56,000 as a secured loan to be used by Siguiri to pay for: (a) geological work, and (b) general and administrative costs.

For more information on MCM please see its corporate profile on SEDAR at www.sedar.com.

The information provided in this Press Release regarding Siguiri and its management has been provided to MCM by Siguiri and has not been independently verified by MCM.

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although MCM and Siguiri believe that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, MCM and Siguiri disclaim any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of RedWater. The securities of RedWater have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.

FOR FURTHER INFORMATION PLEASE CONTACT:
MCM Capital One Inc.
Joseph Heng
Director and CFO
jheng@macdonaldmines.com

 

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