Reimbursement of tax credits related to exploration by Revenu Québec of $2,095,034
For immediate distribution
Montreal, July 10, 2013 – Geomega Resources Inc. (“GéoMégA” or the “Company”) (TSX.V: GMA) confirms the reception of the reimbursement of tax credits related to exploration by Revenu Québec of $2,095,034 and announces the resignation of Mr. Jean-Charles Potvin as a director of the Company.
Reimbursement of tax credits
The reception of those credits will be used for the reimbursement of the bridge loans with SIDEX, Limited Partnership, guarantee by this reimbursement for a total amount of $1,461,000. The remaining will be used for the continuity of the operations on the Montviel property.
Resignation of Mr. Jean-Charles Potvin
The Company accept with regret the resignation of Mr. Jean-Charles Potvin as a director of the Company for personal reasons and would like to take this opportunity to thank Mr. Potvin for his contributions to the board of directors during the last few years.
GéoMégA currently has 34,990,113 common shares issued and outstanding.
About GéoMégA (ressourcesgeomega.ca)
GéoMégA, which owns 100% of the Montviel Rare Earths/Niobium project, is a Québec mineral exploration and development company focused on the discovery and sustainable development of economic deposits of minor metals, such as Rare Earth Elements, Niobium and Graphite, in Québec. GéoMégA is committed to meeting Canadian mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.
GéoMégA currently has 34,740,113 common shares issued and outstanding.
About SIDEX Limited Partnership
SIDEX was established by the Government of Québec and the Solidarity Fund QFL. The mission of SIDEX is to invest in companies engaged in mineral exploration in Québec in order to diversify Québec’s mineral base, encourage new exploration models, stimulate investment for new commodities in existing districts and open new territories with high potential for discovery.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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President and CEO
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecast or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company’s filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.