Geoinformatics Announces Notice of Reorganization of Major Shareholder
Geoinformatics Announces Notice of Reorganization of Major Shareholder
Jun. 25, 2007 07:52 PM
TORONTO, ONTARIO -- (MARKET WIRE) -- 06/25/07 -- Geoinformatics Exploration Inc. (TSX VENTURE: GXL) ("Geoinformatics" or the "Company") announced today that it has been advised by Fractal Holdings Pty Ltd. ("Fractal") of Fractal's intention to distribute the 20 million Geoinformatics common shares held by Fractal to its two shareholders pursuant to a corporate reorganization. Fractal is a related party to Geoinformatics by virtue of its 17.1% holding in Geoinformatics and that its shareholdings include the shares held by Dr. Nicholas Archibald, Chief Executive Officer and a director of Geoinformatics.
Fractal intends to transfer its shareholding in Geoinformatics equally to Geocrust Pty Ltd., a corporation controlled by Dr. Archibald and his spouse, and Geo Holdings (IIF) Pty Ltd., a corporation controlled by Foundation IIF Partnership, an Australian venture capital fund. Of the 20 million shares to be transferred by Fractal, 6 million shares are presently subject to a TSX Venture Exchange value escrow arrangement. Fractal has advised that, subject to receipt of TSX Venture Exchange approval, it expects to complete the transfer of the Geoinformatics shares prior to June 30, 2007.
About Geoinformatics
Geoinformatics is a global exploration company which has developed a unique and innovative approach to minerals exploration.
Geoinformatics is developing the Whistler Project ("Whistler") in the prospective Alaskan Range, which is an advanced-stage gold-copper porphyry discovery and an associated exploration project. Whistler encompasses a 440 sq. km. land package and includes an ore zone defined by drilling which includes an intersection of 220 metres grading 1.49 grams per tonne gold and 0.33% copper, as well as several high potential copper and gold targets.
The Company has entered into a Master Strategic Alliance Agreement (the "Alliance Agreement") with Kennecott Exploration Company ("Kennecott") under which it is using its proprietary scientific and technology platform (the "Geoinformatics Process") to identify and prioritize 30 or more exploration drill targets over the initial two years of the Alliance Agreement. Whistler has been conveyed to Geoinformatics as a property-of-merit under the Alliance Agreement, and Kennecott retains certain royalty and/or back-in rights on all Alliance projects.
In addition, Geoinformatics is actively exploring several significant properties located in British Columbia, the Battle Mountain Trend region of Nevada, and the State of Sinaloa, Mexico. The Company also has an extensive portfolio of other direct property interests, joint ventures, and royalties covering a wide range of minerals in Mexico, Australia and New Zealand and North America.
The Geoinformatics Process integrates large-scale data aggregation, data mining and three-dimensional modeling, and has been designed to assist in understanding and quantifying risk at a much earlier stage of the exploration cycle than has traditionally been available. The Company's objective is to advance its properties to a stage of commercial development by applying faster, less expensive and more reliable analytical methods to resource exploration.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our current Annual Information Form and other recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Geoinformatics Exploration Inc.
Kevin L. Snook
Chairman
(416) 861-1300 x226
Email: kevins@geoinformex.com
Geoinformatics Exploration Inc.
Dr. Nick Archibald
Executive Vice-Chairman and CEO
(416) 861-1300 x224
Email: nicka@geoinformex.com
Geoinformatics Exploration Inc.
330 Bay Street, Suite 1109
Toronto, Ontario M5H 2S8
Website: www.geoinformex.com
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