Agoracom Blog

Liberty Star Uranium & Metals Corp. Message to Shareholders

Posted by AGORACOM-JC at 3:53 PM on Thursday, July 24th, 2014

Message to Shareholders

July 24, 2014

The need for a continuous, secure supply of rare earth elements is widely reported. The rare earths mining industry is responding to this need, including Liberty Star; we seek to explore and develop the large (7 – 9 sq mile) rare earth metals anomaly discovered at Hay Mountain in southeast Arizona.

In that endeavor we have engaged a lobbying group, VogelHood Research (NR 181) to bring the Liberty Star REE story before the appropriate congressional subcommittees. Yesterday we submitted Testimony for the Record to the House Subcommittee on Energy and Mineral Resources for the July 23rd hearing on “American Metals and Mineral Security: An examination of the domestic critical minerals supply and demand chain.” Mineweb covered the hearing – Dorothy Kosich “Coherent national mineral policy a must for U.S. manufacturing, Congress told

Liberty Star’s website includes several links to news, educational articles and videos reinforcing our aim to concentrate on the exploration of the REE anomaly at Hay Mountain.
Summary of REE information shared on our website:

Videos:

Short overview on the uses and the looming shortage of REEs. Good if you only have 3 minutes for the issue: DNews hosted by Anthony Carboni, Why We Need Rare Earth Elements
Commentary and information about the military uses of REEs by metals expert commentator/consultant Jack Lifton. This video was produced by Ucore, the owners of the rare earth Bokan Mountain Mine (AK): ucoreTV: Jack Lifton – USDOD & Ucore

Links:

Rare earth elements are required for a wide variety of modern electronic, autos and weapons systems: Uses of REEs Courtesy of American Elements Liberty Star’s Jim Briscoe used this graphic in in his article, About Rare Earth Elements Both were submitted as Testimony for the Record to the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources Hearing on “American Metals and Mineral Security: An examination of the domestic critical minerals supply and demand chain” (NR 184)

According to US Geological Survey officials, rare earth elements bonanza in the USA:

Arizona could become a center for REE mining:

University of Arizona Department of Mining and Geologic Engineering Head, Professor Mary Poulton and Arizona Geologic Survey Director and State Geologist Lee Allison comment: Nathan O’Neal KVOA.com ‘Rare earth’ mineral could mean revival for Arizona’s mines Lee Allison Arizona Geology: Blog of the State Geologist of AZ Rethinking rare earth element potential in Arizona

Liberty Star Uranium & Metals Corp. trades as LBSR: OTCQB
Contact:
Agoracom Investor Relations
lbsr@agoracom.com
Liberty Star Uranium & Metals Corp.Tracy Myers, 520-425-1433

Investor Relations

info@LibertyStarUranium.com

Follow Liberty Star Uranium & Metals Corp. on Facebook , LinkedIn & Twitter @LibertyStarLBSR

Noront Appeals Mining Recorder’s Finding of KWG Prior Staking

Posted by AGORACOM-JC at 5:55 PM on Wednesday, July 23rd, 2014

TORONTO, ONTARIO–(July 23, 2014) - KWG Resources Inc. (TSX VENTURE:KWG)(FRANKFURT:KW6) was served yesterday with a notice that Noront Resources Ltd. will appeal to the Mining and Lands Commissioner of Ontario to set aside the finding of the Provincial Mining Recorder that KWG was the first to stake two 16 unit claims when they came open on the morning of June 17, 2011. These two claims are contiguous to the southern two claims of the Fancamp Exploration Ltd. Koper Lake claims where KWG is assessing the economic potential of the Black Horse chromite deposit under an option agreement with Bold Ventures Inc. and Fancamp.

“Koper Lake is an important amphibious aircraft facility for the Ring of Fire and the area used for landing and docking is within the eastern boundary of these claims,” said KWG President Frank Smeenk. “In the past our exploration crews have been blockaded there, or embargoed from landing there, or been levied substantial landing fees. We believe that this necessary part of the area’s transportation assets should be operated as a public facility. From this sprang the concept of a federally sponsored Port Authority. Accordingly, we are hopeful that the Provincial Mining Recorder’s Order will be upheld so that we can now assess the mineral potential of these claims and add their surface endowments to an integrated transportation network for the area. This is as contemplated by the ‘Northland Development Corporation Act’ that we provided to each candidate during the Ontario election campaign. We hope that those candidates who are now members of the legislature will encourage their cabinet colleagues to adopt the Bill.”

About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG has also acquired interests in provisional patents including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Shares issued and outstanding: 777,512,273

Contact Information

 

KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com

AGORACOM Small Cap Stock TV – July 23, 2014

Posted by AGORACOM-JC at 5:31 PM on Wednesday, July 23rd, 2014

AGORACOM – The Small Cap Epicenter reports on the day’s best small cap and micro cap press releases.

 

Good afternoon to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on our TV show. It’s July 23rd and we’ve found 6 great press releases to report on. It’s another great day for small-cap and micro-cap financial news.

If you miss an episode or want to search for your company in our archive, you can visit our industry leading Small-Cap Podcast site at any time:

If you want to subscribe to our Small-Cap RSS Feed or download our podcast everyday via iTunes, or your favourite podcatcher, just use the following:

TODAY’S SMALL-CAP AND MICRO-CAP BREAKING FINANCIAL NEWS

Today’s show features:

Virtutone Networks VFX.V),

BlackBerry (BB.T),

Fission Uranium (FCU.V),

Cayden Resources (CYD.V),

Rockhaven Resources (RK.V),

Pilot Gold (PLG.T)

CORRECTING and REPLACING Liberty Star Submits Testimony to US House of Representatives Committee on Natural Resources RE: Strategic Rare Earth Elements

Posted by AGORACOM-JC at 4:59 PM on Wednesday, July 23rd, 2014

CORRECTION…by Liberty Star Uranium & Metals Corp.

TUCSON, Ariz.–()–Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

LIBERTY STAR SUBMITS TESTIMONY TO US HOUSE OF REPRESENTATIVES COMMITTEE ON NATURAL RESOURCES RE: STRATEGIC RARE EARTH ELEMENTS

Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to announce written Testimony for the Record has been submitted to the US House of Representatives Committee on Natural Resources Subcommittee on Energy and Mineral Resources for the July 23rd hearing on ”American Metals and Mineral Security: An examination of the domestic critical minerals supply and demand chain.”

CEO/Chief Geologist Jim Briscoe’s address to Shareholders “About Rare Earth Elements” (August 7, 2013) is included in the testimony.

Briscoe’s opening remarks are also included in the Testimony for the Record:

“I am founder, CEO and Chief Geologist of Liberty Star Uranium & Metals Corp., an Arizona-based mineral exploration company engaged in the acquisition and exploration of mineral properties in the states of Arizona and Alaska. Last year I addressed the shareholders of the company regarding the urgent and continuously growing need for rare earth elements (REEs) by industry and the military. I submit that communication here today for the subcommittee’s reviews.

Before presenting that communication, I would like to give the Committee some background on what I believe could be a large and reliable source of rare earth elements in southeast Arizona. While more exploratory work is required, my company discovered the presence of at least 4 of the 17 REEs while conducting geochemical surveys for copper and gold in southeast Arizona, near Tombstone, Arizona, in an area we call the Hay Mountain Project.

In May 2012 we reported via news release (NR 122): ”A surprising presence of rare earth elements (REEs) has been defined over a large area (7 to 9 square miles). This was completely unexpected and justifies further study. The REEs we assayed for are among the 17 REEs now known, are strongly anomalous, and are scandium, yttrium, lanthanum, and cerium. The other 13 known REEs were not included in our assay process. In due course we will re-assay the samples for these additional REEs.”

While previously only small insignificant amounts of REEs had been detected throughout the state, this finding in a new area of mineral exploration could introduce high tech and environmentally sensitive mining to southeast Arizona and would include other strategic metals. The Hay Mountain Project will be primarily a copper mine that would also produce gold, silver, molybdenum, zinc, lead and REEs—all strategic metals required for the 21st Century economy and beyond.”

“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.

Contacts

Agoracom Investor Relations
lbsr@agoracom.com
http://agoracom.com/ir/libertystar
or
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
info@LibertyStarUranium.com
Follow Liberty Star Uranium & Metals Corp. on Facebook, LinkedIn & Twitter@LibertyStarLBSR

Enertopia Announces AGM Results

Posted by AGORACOM-JC at 8:06 AM on Wednesday, July 23rd, 2014

 

Vancouver, BC /July 23 2014 / Enertopia Corporation (ENRT) on the OTCBB and (TOP) on the CSE (the “Company” or “Enertopia”) is pleased to announce all resolutions were approved and adopted at its Annual General Meeting (AGM) held on July 15th.

Re-election of directors was approved with the following results:

Nominee For Withhold Not Voted
Robert McAllister 18,929,105 (99.41%) 113,264 (0.59%) 11,529,448
Donald Findlay 18,963,169 (99.58%) 79,200 (0.42%) 11,529,448
John Thomas 19,000,854 (99.78%) 41,515 (0.22%) 11,529,448
Mathew Chadwick 2,084,772 (10.95%) 16,957,597 (89.05%) 11,529,448

 

-Ratification of MNP LLP our independent registered public accounting firm to hold office until the close of the next annual general meeting and to allow directors to set the remuneration, approved with 30,286,680 votes For (99.07%), 285,136 votes Against (0.93%) and 1 vote Not Voted; and

-Ratification of the change of business to the regulated marijuana industry was passed with 19,029,444 votes For (99.93%), 12,925 votes Against (0.07%), and 11,529,448 Not Voted; and

-Shareholders approved the compensation of our company’s named executive officers (Say-On-Pay), by a vote of 19,008,019 votes For (99.82%), 34,350 votes Against (0.18%), and 11,554,370 Not Voted; and

-Shareholders approved a 3-year frequency (Say-When-On-Pay) of future advisory votes on the compensation of our company’s named executive officers, by the following votes One Year – 1,452,183, Two Years – 74,858 Three Years – 17,490,406, Not Voted – 11,554,370; and

-Ratification of the Company’s 2014 stock option plan was passed with 18,996,969 votes For (99.76%), 45,400 votes Against (0.24%), and 11,529,448 Not Voted.

The Company also notes that 252,000 warrants have been exercised raising $25,200 in net proceeds.

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Enertopia

Enertopia’s shares are quoted in the USA with symbol ENRT and in Canada with symbol TOP.

To learn more about Enertopia Corp. visit www.enertopia.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ken Faulkner, Business and Institutional Development: (250) 765-3630

Clark Kent, Media Inquiries: (647) 519-2646

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its medical marihuana projects, evaluation of clean energy projects, oil & gas projects, , competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and exploration expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks

InvestmentPitch Media Attending Next Gen Metal’s GreenRush Financial Conference in Seattle, Washington on September 23, 2014, Covering Medical Marijuana, Industrial Hemp and Alternative Medicines

Posted by AGORACOM-JC at 6:32 PM on Tuesday, July 22nd, 2014

Vancouver, British Columbia–(July 22, 2014) – InvestmentPitch Media will be attending the upcoming GreenRush Financial Conference in Seattle, Washington. Following very successful GreenRush Financial Conferences in Vancouver in May, and Toronto in June, arrangements are in place for the next conference which will be held on September 23rd at the Washington State Convention Centre, from 7:00 am to 5:00 pm.

For more details, please watch this video. If this link is not enabled, please visit www.InvestmentPitch.com and enter “GreenRush Conference” in the search box. InvestmentPitch is a media partner for this event, and will be available to film presentations and conduct interviews.


http://www.investmentpitch.com/video/0_wjudlxo5/InvestmentPitch-Media-Invite–GreenRush-Financial-Conference-in-Seattle-Washington–Sept-23-2014

Harry Barr, CEO, stated: “We are pleased with the results of the first two Canadian GreenRush Financial Conferences and look forward to exporting our success and brand to the United States. We would like to thank the 40+ exhibitors, 1200+ attendees and expert speakers from around the world that came together to make this Toronto conference the success that it was. We look forward to hosting our third GreenRush Financial Conference in Seattle, Washington which is the newest state to legalize recreational marijuana. Given the size of the US market, its population when compared to Canada and the fact that marijuana is legal both recreationally and medically in Washington State we anticipate that our third conference will be even bigger and better received than our conferences have been to date.”

The conference will provide a platform for venture capital investment, education and business to business opportunities, with exhibitors having a forum to showcase their products, technologies and services. For further information or to register as an attendee for the Seattle Conference, please visit www.greenrushfinancialconferences.com.

For information about further conferences, which are also being considered for North and South America as well as Europe and the Caribbean, please register on their site.

If you are interested in being a speaker, exhibitor or sponsor for the Seattle Conference please contact the GreenRush Financial Conference team at 604-685-1870 or 1-800-667-1870 or email the following:

Taylor Barr taylor@greenrushfinancialconferences.com
Ray Rich rayrich@greenrushfinancialconferences.com

The GreenRush Financial Conferences are 100% owned by Next Gen Metals Inc. (CSE:N). Next Gen focuses on investing in the Medical Marijuana, Industrial Hemp and Alternative Medicine sectors, and is currently negotiating with a number of companies who are interested in entering into contractual arrangement to co-venture, co-finance, and option-joint venture on one or more of Next Gen’s large inventory of business opportunities and existing 100% owned companies and projects in these multi-billion dollar industry.

Next Gen recently announced a non-brokered private placement of up to 3,000,000 units at $0.10 per unit, for gross proceeds of up to $300,000. For more information about Next Gen, please visit www.nextgenmetalsinc.com.

About InvestmentPitch

InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals,

specializes in producing short three minute videos based on significant news releases and research reports. Please visit InvestmentPitch.com and browse the extensive library of investment videos.

CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks

Stria Lithium, High Quality and Low Cost Supplier, CEO Clip Video

Posted by AGORACOM-JC at 3:08 PM on Tuesday, July 22nd, 2014

Vancouver, British Columbia–(July 22, 2014) – Julien Davy, President & COO of Stria Lithium Inc. (TSXV: SRA) describes this technology mining company in the lithium market with strategic alliances with Focus Graphite and Grafoid.


http://www.ceoclips.com/companies/Video-Interview-with-Julien-Davy-President-and-COO-of-Stria-Lithium-Inc.html
About Stria Lithium (TSXV: SRA)

Stria Lithium owns the Pontax spodumene lithium property in Northern Quebec and the Willcox brine lithium property in southeastern Arizona. As announced in January 2014, Stria is developing proprietary, in-house processing technologies for both projects with the purpose of reducing costs on an environmentally sustainable basis. Stria’s technologies, based on recovering lithium metal directly from ore and from brine liquids, will be more efficient, will require fewer controls, less chemistry and require less energy from compact facilities designed to enable easy automation. http://strialithium.com/

About CEO Clips:

CEO Clips is the largest library of publicly traded company CEO videos in the US and Canada. These 90 second video profiles broadcast on national TV and are distributed online on top financial portals including: Thomson Reuters, BNN.ca, MSN Money, Stockhouse.com, Canadian Business Journal, Germany’s Investor SMS, and 32 sites in Europe. They are also disseminated via a video news release to several financial portals including Globe Investor, OTC Markets, TMX Money, and The National Post.

BTV – Business Television/CEO Clip Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

Allan Barry Goes “Beyond the Press Release” with Ken Armstrong, President and CEO, of North Arrow Minerals

Posted by AGORACOM-JC at 1:30 PM on Tuesday, July 22nd, 2014

North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the Canadian diamond industry. In addition to the Redemption Project, North Arrow is presently conducting a bulk sampling program of the Q1-4 kimberlite at its Qilalugaq (NU) Project and is also evaluating each of the Pikoo (SK), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.

Cannabis Stocks Edge Higher Last Week Led by Nuvilex & Entertopia

Posted by AGORACOM-JC at 10:25 AM on Tuesday, July 22nd, 2014

WHITEFISH, MT / July 22, 2014 / The Marijuana Index(TM) moved slightly higher last week, despite a 7% drop in GW Pharmaceuticals plc (NASDAQ: GWPH) shares. Medbox Inc. (OTC: MDBX), the second largest component of the index, also fell over 5% last week.

Top gainers last week included Nuvilex Inc. (OTC: NVLX), which jumped more than 16.5% after reporting positive results in dogs for its anticancer treatment, Enertopia Corp. (OTC: ENRT), which jumped more than 13% after receiving municipal approval for its MMPR joint venture in Burlington, Ontario, and Novus Acquisition & Development Corp. (OTC: NDEV), which rose more than 12% last week.

Cannabis regulatory initiatives also gained ground last week. In a favorable swing, the U.S. House of Representatives voted to support making it easier for cannabis-related companies to access the commercial banking sector. A new survey also found that U.S. citizens are increasingly embracing both medical and recreational marijuana following the successful rollout of both programs in several states.

What’s New?

- CannLabs Continues to Make Tremendous Strides – CannLabs Inc. (OTC: CANL) recently announced the addition of industry experts to its leadership team, updates to its services to accommodate new Colorado MED testing requirements, and a new ticker symbol.

- West Point Starts Cannabis Breathalyzer Development – West Point Resources Inc. (CNSX: BLO) recently announced that it has selected a prototype development firm to complete the initial version of its Cannabix Marijuana Breathalyzer in partnership with its engineering team.

- A Supreme Opportunity in the Cannabis Space – CannabisFN takes a look at Supreme Pharmaceuticals Inc. (OTC: SPRWF) and its low-risk, high-reward strategy for obtaining licensed producer status from Health Canada under the country’s new MMPR framework introduced this year.

- House Votes to Allow Marijuana-Related Banking – The U.S. House of Representatives voted 236-186 in support of making it easier for cannabis-related businesses to work with commercial banks, a problem that has caused some marijuana businesses to become criminal targets.

- Cannabis Therapy’s Multi-Pronged Approach – CannabisFN takes a look at Cannabis Therapy Inc.’s (OTC: CTCO) unique business strategy, existing hemp cultivation, and why their laboratory research could be a significant catalyst for the stock over the coming quarters.

- Capitalize on the Green Rush with DigiPath – CannabisFN takes a look at DigiPath Inc. (OTC: DIGP) and its unique and synergistic plans within the cannabis industry focusing on laboratory testing, training/education, and cannabis-related media ventures.

What to Watch This Week

The cannabis sector continues to move higher, as it recovers from its lows made earlier this year. In Canada, investors are still waiting for MMPR licensing decisions to be made for several companies, while keeping an eye on the injunction that’s keeping the country’s MMAR program alive for now. In the U.S., regulators appear to be increasingly supportive of cannabis, as state-wide experiments continue to be positive in terms of both public safety and tax revenue from cannabis.

About CannabisFN

CannabisFN.com is a dedicated financial network covering new, emerging and established companies operating in the burgeoning multi-billion dollar medical marijuana (“MMJ”) and cannabis industries. CannabisFN’s coverage is syndicated on the leading industry specific and mainstream financial websites and social media. To learn more and request a media kit, visit http://www.cannabisfn.com/market-defining-companies-program/.

To subscribe to the CannabisFN newsletter or read additional coverage on cannabis laws and investments, visit http://www.cannabisfn.com.

Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks

Virtutone Announces New $10 Million USD Line of Credit With a Tier One U.S. Bank

Posted by AGORACOM-JC at 1:07 PM on Monday, July 21st, 2014

Sherwood Park, Alberta / July 21st, 2014 / Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that it has secured a new $10 million line of credit with a tier one U.S. bank.

The line of credit is a one-year renewable term at a rate of prime plus 1.5% per annum. The facility is based on 85% of good accounts receivable.

“This new facility will significantly increase our revenues and goes a long way to helping us meet and potentially exceed our financial projections for this year,” said Jason Allen, Chief Executive Officer. “It will also substantially lower our cost of capital and therefore help drive profitability. We see a lot of attractive business that, prior to obtaining this line, we were unable to land, so we will have no trouble deploying this capital to the benefit of our shareholders.

“We are pleased to be working with this new bank, which understands our business and is willing to work with us to grow it. Although it took longer than we expected to find the right lending partner, finding this one has made the wait worthwhile.”

With this new line of credit, the Company has declined the previously announced $7.5 million credit facility on November 1st, 2013, as the cost of the capital was very high, and had restrictive terms. The Company required a larger and more long-term partnership providing the Company with more flexibility and a lower cost of capital.

For further information please contact Jason Allen at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of wholesale telecommunication services, serving as an intermediary between large carriers and local telephone companies in many countries worldwide. Over the years, Virtutone has built lasting and secure business relationships with a number of key strategic partners.

We pride ourselves in providing unsurpassed service to customers and suppliers worldwide. Our customers choose us for three primary reasons: quality voice services, competitive rates, and superior customer service.

Additional information can be found on the company’s website at www.virtutone.com.

This document may contain certain forward-looking information or statements (“Forward-looking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any current or new wholesale contracts; changes in the global economy; a failure to negotiate new customer contracts; changes in legislation or the interpretation thereof, particularly in the telecommunications industry. Forward-looking statements are any statements other than statements of historical fact. The use of any “plan” “expect ” “project” “believe” “should” “anticipate” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: the impact of the new voice traffic contracts; timing and completion of the transition of new voice traffic; the sustainability of the new revenue stream; increased leverage with suppliers; additional deals currently being worked on and the impact thereof; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone’s new contracts; the market for wholesale telephony services; the maintenance of new and current wholesale contracts; and the ability to add new wholesale clients. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law. The historical revenue numbers for the new wholesale contracts do not represent estimates of future revenues to be received by the Company. As these contracts do not contain any minimum traffic requirements, revenue generated on such contracts will vary from month to month, and such variations may be material. The Company cannot provide any assurances as to the revenues to be generated by such contracts once the transition is complete.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.