MONTREAL,
March 26, 2014 /CNW Telbec/ - Maudore
Minerals Ltd. ("Maudore" or the "Company") - (TSXV:
MAO) (OTCBB: MAOMF) (FWB: M6L) - announces that, further to its
press release of March 14, 2014
setting out the terms of the additional funding to be provided by
FBC Holdings S.à.r.l ("FBC"), the required documentation has
been completed in order to implement the $4
million senior secured loan which FBC had agreed to make
available to Maudore's wholly-owned subsidiary Aurbec Mines Inc.
("Aurbec"). These funds will be used by Aurbec for
general corporate purposes until such time that a meeting of the
shareholders of Maudore can be convened in order to obtain the
approval of the shareholders of the overall terms of the
comprehensive funding package to be provided by FBC (the "FBC
Funding").
The Company has established May 22, 2014 as the date for its annual and
special meeting of shareholders at which shareholders will be asked
to approve, among other matters, the FBC Funding. The Company
expects that the management proxy circular in connection with this
meeting will be mailed to shareholders in late April 2014.
About Maudore
Maudore is a Quebec-based junior gold company in
production, with mining and milling operations as well as more than
22 exploration projects. Five of these projects are at an advanced
stage of development with reported current and historical resources
and mining. Currently, gold production is ramping up at the
Sleeping Giant mine. The Company's projects span some 120 km,
east-west, of the underexplored Northern Volcanic Zone of the
Abitibi Greenstone Belt and cover a total area of 1,570 km², with
the Sleeping Giant Processing Facility within trucking distance of
key development projects.
Cautionary Statement Regarding
Forward-Looking Statements
This release and other documents filed by the
Company contain forward-looking statements. All statements that are
not clearly historical in nature or that necessarily depend on
future events are forward-looking, and the words "intend",
"anticipate", "believe", "expect", "estimate", "plan" and similar
expressions are generally intended to identify forward-looking
statements. These forward-looking statements include, without
limitation, performance and achievements of the Company, business
and financing plans, business trends and future operating revenues.
These statements are inherently uncertain and actual achievements
of the Company or other future events or conditions may differ
materially from those reflected in the forward-looking statements
due to a variety of risks, uncertainties and other factors,
including, without limitation, financial related risks, unstable
gold and metal prices, operational risks including those related to
title, significant uncertainty related to inferred mineral
resources, operational hazards, unexpected geological situations,
unfavourable mining conditions, changing regulations and
governmental policies, failure to obtain required permits and
approvals from government authorities, failure to obtain any
required approvals of the regulatory authorities or from
shareholders or creditors, failure to obtain any required
financing, increased competition from other companies many of which
have greater financial resources, dependence on key personnel and
environmental risks and the other risks described in the Company's
continuous disclosure documents.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Maudore Minerals Ltd.