|By Marketwired .||
|March 3, 2014 05:52 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/03/14 -- Procon Holdings (Alberta) Inc. ("Procon"), of Suite 108 - 4664 Lougheed Highway, Burnaby, British Columbia, reports that on February 27, 2014 Procon and its wholly-owned subsidiary, Procon Resources Inc., entered into a debenture amending agreement with Lincoln Mining Corporation ("Lincoln") which amended the convertible debenture in the principal amount of $2,300,000 issued by Lincoln to Procon on November 22, 2012 (the "Debenture") by eliminating Procon's conversion right and providing Lincoln with the right to prepay the Debenture at any time. Procon also reports that on February 28, 2014 Procon disposed of its ownership and control of 46,000,000 common shares of Lincoln to Mr. Ron Netolitzky through a private transaction at a price of $0.01127 per share, the Debenture was fully paid out and discharged, and Procon's four nominees on the board of directors of Lincoln resigned. As a result, Procon no longer has ownership or control of any common shares or debentures of Lincoln.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with an early warning report filed by Procon earlier today (the "Report"). A copy of the Report may be found under Lincoln's profile on www.sedar.com.
Procon Holdings (Alberta) Inc.