VANCOUVER, Aug. 6 /PRNewswire-FirstCall/ -- Adcore Capital Inc. ("Adcore") (the "Company")(TSX-V: ACR-P), announces that on July 26, 2010, it purchased and acquired the 100% interest in the Day Butte and Meadow Draw Projects from Equinox Resources LLC ("Equinox") pursuant to an agreement of purchase and sale dated June 8, 2010 as disclosed in the Company's Filing Statement (the "Filing Statement") which was previously filed with the Exchange.
Adcore's Qualifying Transaction ("QT") has not yet closed, pending completion of the private placement and satisfaction of all conditions in the conditional acceptance letter from the Exchange dated July 2, 2010. Consistent with the statements of the conditional acceptance letter, Adcore closed the acquisition of the Assets on July 26, 2010.
Adcore must now complete a private placement to raise gross proceeds of $840,000 through the issuance of 8,400,000 units at $0.10 per share in order to be able to close the Qualifying Transaction and request the final approval from the Exchange by Wednesday, August 11, 2010.
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.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Adcore's beliefs, plans, expectations, anticipations, estimates and intentions, such as Adcore's completion of the Qualifying Transaction and the completion of the Private Placement. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes Adcore's expectations as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events. Adcore cautions that the foregoing list of material factors is not exhaustive. When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Adcore has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ADCORE AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ADCORE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Adcore Capital Inc.
CONTACT: Paul Cox, President, Adcore Capital Inc., 207 - 1425 Marine
Drive, West Vancouver, BC, V7T 1B9, Ph: (778) 786-1285, Fax: (604) 926-5806,
Email: paulcox@adcorecapital.com
