Magna Resources Ltd. Postpones Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2009) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES
Rudy de Jonge, President of Magna Resources Ltd. ("Magna") (CNSX:MNA), advises that Magna's previously announced non-brokered private placement of up to 6,000,000 units, which was originally announced June 12, 2009 and extended August 5, 2009, will not proceed at this time. Management has postponed the company's financing efforts until pending permits for its Utah Potash applications are received from the Bureau of Land Management.
On behalf of the Board of Magna Resources Ltd.
Rudy de Jonge, President
This press release contains forward-looking information regarding management's anticipated receipt of permits for its Utah Potash applications and completion of the proposed private placement financing. The forward-looking information contained in this press release is made based on expectations of management as of the date of this press release and, except as required by applicable law, Magna does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Magna to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. There is no assurance that Magna will obtain the permits or be able to complete a financing on terms acceptable to the company, if at all.View Comments and Join the Discussion!