European Uranium Resources Ltd. und Portex Minerals Inc.. give current status of the fusion procedure known

European Uranium Resources Ltd. und Portex Minerals Inc.. give current status of the fusion procedure known

Vancouver, 21. January 2014 – European Uranium Resources Ltd. („EUU‟) (TSXV: Euu) und Portex Minerals Inc.. („PAX‟) (CNSX: PAX) indicate the current status of the fusion process, that too in the joint press release dated 23. December 2013 was announced (die „Fusion‟), known.

The fusion is carried out via a plan of arrangement, accepts the EUU all outstanding PAX ordinary shares against exchange by EUU ordinary shares. The merged company will be named European Minerals Inc. (the "combined company") and will deal with a diversified, consisting of various commodities portfolio of promising exploration- focus and development projects in Europe. For more details, please see the press release dated 23. December 2013.

As stated in the press release dated 23. December 2013 announced, the Contracting Parties, each party financing in the amount of 1,25 Million $ and 2,4 Million $ (the "GRIT-financing") von Global Resources Investment Limited angekündigt. The completion of each GRIT-financing depends on various conditions, u.a. to approval by the TSX Venture Exchange (in the case of EUU) and the successful GRIT's IPO on the London Stock Exchange (die „LSE‟). The Parties were informed, that the inclusion of GRIT in the LSE delayed; the completion of the GRIT-financing is now the beginning of February 2014 take place.

With regard to the preparation of the information letter to the EUU- und PAX Aktionäre, whose consent is required for fusion, those in charge of EUU and PAX held talks on the planned operations of the combined company after the completion of GRIT-financing and merger. There are no shareholders' meetings were not scheduled. The Contracting Parties shall enter the dates known after fixation.

Über European Uranium Resources Ltd.

European Uranium Resources Ltd. is an ambitious European uranium exploration- and shooting company, which has an extensive portfolio of great projects in Slovakia. European Uranium is on its way, the most important uranium exploration- being and development company in Europe. Europe is in relation to the per capita consumption of the largest uranium consumer in the world. Are currently 160 Reactors in operation and more under construction or planned, However, there is only one active uranium mining operation. A Tetra Tech, Inc. performed 43-101 compliant pre-feasibility study has shown, Kuriskova that can be built and operated using the latest environmentally friendly technologies and this one in terms of the cost per pound of uranium to the most cost-effective production facilities in the world. European Uranium has a strong and committed shareholder base. This includes AREVA, a company, standing in the nuclear energy sector world leader and one of the major uranium mining companies and nuclear operators.

Über PAX

PAX is a company based in Toronto mineral development company, focused on the acquisition and development of basic- specialized and precious metal projects in Europe. PAX has besides projects in Spain and Portugal also large estates in Ireland and Northern Ireland.

Cautionary Note Regarding Forward-Looking Information

Completion of the transaction is subject to a number of conditions, which u.a. the approval of the Securities and Exchange Commission and the disinterested shareholders counts. The transaction can not be completed prior to receipt of the relevant approval of the shareholders. There is no guarantee, that the transaction or in the form proposed. is generally brought to a conclusion.

Investors are cautioned, that all information, published or received in connection with the transaction, may be inaccurate or incomplete and therefore not deemed reliable. The only exception is the information in the circular of the management, that must be created in connection with the transaction. Trade with EUU- and PAX securities is considered highly speculative.

The TSX Venture Exchange has reviewed the facts of the proposed transaction in any way and the content of this press release neither approved nor disapproved.

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements are often characterized by words such as "plan", "Expect", "Forecast", "Intend", "Believe", "Anticipate", "Estimate", "Will", "Could" and similar words or statements, according to which "can" enter certain events or conditions. In particular, the forward-looking information in this press release include, without limitation, statements regarding the expectations of management regarding the merger, to the respective shareholdings of PAX- and EUU shareholders of the merged company, to carry out the GRIT-financing, for mineralization potential held by EUU PAX and mineral rights, the planned name change, to carry out the definitive agreement, to compile the information letter, for approval of the merger by the shareholders, the planned acquisition („Reverse Takeover‟) and to change the name, the timetable for the resumption of trading of the shares EUU, statement relating to the issuer's future after the completion of the merger and the approval of the merger by the Securities and Exchange TSXV, including the proposed acquisition („Reverse Takeover‟) counts. EUU and PAX assume, that the expectations, contained in such forward-looking information, based on reasonable assumptions; However, no guarantee can be assumed, that these expectations be correct. These forward-looking statements are subject to risks and uncertainties, which may cause, the actual results, Performance or developments to differ materially from those contained in these statements. Including without limitation include the risk, that the TSXV of the merger may not agree, that the shareholders of EUU and / or PAX fusion – and the planned acquisition – do not agree, that the parties are not satisfied with the outcome of the due diligence process, that the parties or not to agree to the terms and conditions necessary for the completion. in the case of an agreement, the conditions may not meet, that the TSXV / specialist report / s does not release regarding the essential characteristics of the merged company, that either both GRIT-financing can not be completed or that EUU and can not find a sponsor if required.


„Dusty Nicol‟

Dorian L. (Dusty) Nicol, President und CEO

For more information, please contact Dorian (Dusty) Nicol by phone (604) 536-2711 or. on the website


„Peter F. Chodos‟

Peter F. Chodos, President & CEO

For more information, please contact Peter F. Chodos, Such. (416) 479-5417, or. through our website

For the correctness of the translation is any liability assumed! Please note original English message!


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